European transport enhances risk management
Insurance broker and risk adviser Marsh has commissioned research which has revealed 73% of Europe’s leading transportation firms plan to review their risk management in response to the economic decline.
When questioned almost four in five of respondents stated that the downturn had made risk management a more important factor in their business, and over half (54%) believe that the transport sector has been hit hardest by the decline.
Interestingly, despite more attention being paid to managing risk, transport firms are not leaping into a risk-averse mindset.
Marsh’s research shows that 40% are becoming less prone to risk, but 14% are more likely to take risks.
Head of Industry Practices for Europe, the Middle East and Africa Mark Pollard has described the transport sector’s eagerness to enhance its risk resilience as encouraging.
Category: Insurance News, Marsh News
Comments (1)
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I think that this focus on risk management is a trend that is (thankfully) being seen across numerous industries, including the transportation industry. More and more, organizations and industries are realizing what role risk has played in their operations over the years and certainly throughout the economic downturn. I think that the real test will be whether organizations sustain their risk awareness and sustain the focus they seem to be currently placing on risk in their operations.