UK Survey Finds “Risk Ignorance” to be Greatest 2009 Challenge
Companies in the UK are facing increased risks in 2009, but they say their biggest challenge isn’t dealing with those risks. Instead, they say it’s making sure employees in their organizations are risk-savvy.

According to an article on the Claims Journal website, the survey by Aon UK found that 70 percent of UK risk managers think “risk ignorance” is the greatest challenge they face in 2009.

“The risks companies are facing, such as increased company insolvencies, less access to credit and increased levels of fraud, need to be dealt with by employees throughout the organization rather than just at senior management levels,” the report said.

The survey found the top risk management challenges of 2009 in the UK are:

• Embedding enterprise risk management (ERM) in the culture of the organization (70 percent)
• Keeping “risk registers” real and relevant (47 percent)
• Making the link between ERM and strategic planning processes (34 percent)
• Gaining senior executive sponsorship (19 percent)
• Making business continuity plans relevant to line managers (13 percent)
• Credit rating agency scrutiny of ERM (6 percent)

Alex Hindson, head of enterprise risk management at Aon Global Risk
Consulting, told the publication: “When the markets are literally crashing down around us and we don't know what is just around the corner it is extremely tempting to focus just on the problems of today, rather than look at the issues and factors that are going to help us survive tomorrow, but this short term view can often be counter-productive.”