The Ukraine crisis presents a myriad of risks to the sector – direct underwriting losses, rapidly rising prices, slower economic growth, financial market volatility and the potential for asset shocks – that are not altogether different to what occurred during COVID-19 and the financial crisis. But with direct investment and underwriting exposures limited overall, and with second order effects in financial markets currently manageable, the sector is strongly positioned to support clients through this period of uncertainty.

[Limited free articles per month for non-subscribers] For the fourth year in a row, business has been named the most trusted institution in America. But trust is fragile and businesses must manage it as carefully as they do their balance sheets.

The state of the world in 2022 may be beset by global challenges – but it is not without hope. Through global collaboration, public-private partnerships, new models and innovations, and a renewed sense of social responsibility we can create a more sustainable, inclusive and resilient world. Here are the main messages and takeaways from The Davos Agenda 2022, which took place in January.

[Limited free articles per month for non-subscribers] Psychological safety around risk reporting is, as a solid body of research indicates, essential to the speak-up culture that is the oxygen of risk management – how Swissgrid introduced two parallel risk management processes in its enterprise-wide system to identify and mitigate strategy risks, external risks, and novel risks.