Russell Group event to take on unknown risk

Russell Group is braving the unknown.

On July 12, the risk management software and services firm is holding an event aimed at engaging the London Market on the issue of quantifying unknown risk. The breakfast briefing will centre on the following questions: 

• Can unknown risk be quantified?
• Do (re)insurers have a strong handle on a corporate’s risk profile?
• Do (re)insurers understand the interconnections within a corporate’s risk profile?
• Why is the corporate and (re)insurance relationship so siloed?
• What can the London Market do collectively to solve the issue of quantifying unknown risk?

Joining Russell Group chief executive Suki Basi as speakers are Munich Re head of casualty facultative Adriano Bastiani and Centrica’s insurance risk head David Broughton.  

“Unknown risk has proliferated outside the traditional siloes over the last year as events ranging from WannaCry to Hurricane Harvey demonstrate the limitations of traditional risk modelling scenarios,” said Basi, who cited the potential of risks to aggregate and have an impact across all (re)insurance classes in what he described as a connected world.

He added: “We believe that the London Market must get involved in creating a solution that helps corporates and (re)insurers quantify their unknown risk, which in turn will create numerous profitable opportunities for both counter-parties.”

The event is happening at 1 Minster Court on Mincing Lane.