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Managing risk is about raising society's resilience

Role of risk management is not to impede people's ability to do business, but to enhance their awareness about the dangers they face.

A natural disaster hitting highly populated areas would have big economic outcomes and big insurance claims.

FOLLOWING the Global Financial Crisis and the failure of many institutions to grasp the risks they were taking, the concept of risk and its consequences in terms of management have become central with regulators and more generally within society. Even though risk is an old concept, its...

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