Old solutions will leave businesses vulnerable in digital age, warns new report

Parametrics – a specialised form of reinsurance or insurance used mainly in catastrophe bonds – could become more mainstream in the commercial sector and enable risk managers to address some of the limitations of traditional insurance. That is the conclusion of a report from Airmic published today in collaboration with Swiss Re Corporate Solutions and Marsh.

The need for businesses to have a single person to oversee all aspects of risk is greater than ever, says a new report from Airmic and international consultants Oliver Wyman with support from Marsh. Yet boards in the UK are slow to respond even where there are obvious gaps in risk management.