It is often easier to focus on the seen and physical. But, in a world that is highly digitalised and interconnected, adequately identifying, assessing, and mitigating non-physical threats, or intangible risks, has now become a priority for businesses. Having a holistic view of risk also ensures long-term competitiveness, brand value and operational continuity in time of continuous disruption and volatility.
In this session, Reem El Khatib, Risk Management Executive at Lockton Companies LLP, will provide an overview of the evolution of intangible risks over the past few years and the multidimensional impact they have had on businesses across industries. She will discuss how the insurance market has reacted to these risks so far and explore the role of robust risk management in protecting businesses against future related unknowns.
By the end of the session, you will be able to:
- Describe the differences between tangible and intangible risks.
- Discuss the impact of intangible risks on businesses.
- Explain the importance of robust risk management in mitigating the impact of intangible risks.
- Examine the insurability of intangible risks.
- Identify available insurance products/ alternative risk transfer solutions for intangible risks.
Speaker:
Reem El Khatib, Risk Management Executive, Assistant Vice President, Lockton.