Welcome to the latest edition of ACE's risk management magazine, Progress
There is a good deal of debate at the moment around the threat of a so called double-dip recession, with economic data producing mixed messages across the globe. Not surprisingly there is no consensus amongst economists as to which way we are heading.
In a recent survey of European and global risk managers conducted by the Economist Intelligence Unit, regardless of whether we face a further global recession or not, the results of this survey show that firms remain vigilant to the risks they face. At a time of economic downturn when risks are heightened, insurance has a pivotal role to play. Insurers and risk managers need to work together to ensure the transfer of these risks from business balance sheets is achieved in the most efficient and effective way.
Recession also creates the potential for new or emerging risks to evolve. Therefore, it is vital that insurers continue to offer creative and relevant products addressing the needs of buyers to demonstrate the importance of the insurance proposition in difficult economic times.
This magazine aims to address both the existing and potential emerging risks and opportunities for business in the coming months. I hope you find it an interesting read.
Chairman and chief executive officer
ACE European Group