NEW YORK (November 9, 2015) — According to the inaugural RIMS ǀ Marsh Risk Management in Latin America report, Latin American companies have made significant progress in developing and implementing sustainable risk management capabilities, but more work still needs to be done. RIMS, the risk management society™, and Marsh Risk Consulting, the risk advisory consulting unit of Marsh LLC released these findings today at RIMS Risk Forum 2015 in Lima, Peru.
The RIMS ǀ Marsh Risk Management Latin America report includes assessments and comments from risk management leaders in 369 companies from 15 countries in the region and 10 different industries. Responses were obtained through an online survey conducted between June and September 2015. Key takeaways from the report include:
• 77 percent of respondents have an employee dedicated to risk management activities
• 66 percent of respondents have a risk management policy
• 55 percent have either fully or partially implemented a risk management system
• 21 percent of organizations reported strategic planning to be fully coordinated with risk management
"The report demonstrates that Latin American companies increasingly understanding the competitive advantage and added value risk management brings to their organizations," said Rodrigo Fajardo, Marsh Risk Consulting Leader for Latin America. "While the trend is encouraging, we must continue to educate Latin American business leaders about the benefits of an integrated and strategic risk management approach by demonstrating its ability to positively impact finances, sustainability and governance."
On November 9th and 10th in Lima, Peru, RIMS’ first-ever Risk Forum Latin America featured the region’s most renowned risk management leaders who shared best-practices and thought-leading industry perspective. Educational sessions at the Forum explored current and emerging risks facing organizations in the region; captives; the Latin American insurance market; reputation risk; climate change; enterprise risk management; among others.
“Latin America’s growing economy offers many opportunities but, before engaging in commerce in the region, it is critical for risk professionals to be able to identify and assess all uncertainties,” said RIMS President Rick Roberts. “The report and RIMS’ forum are aimed at providing practitioners with a better understanding of the region’s risk management landscape and most pressing challenges to make informed recommendations for their organizations.”
The report is available in RIMS Risk Knowledge library at www.RIMS.org/RiskKnowledge and on the Marsh LAC website at http://latinamerica.marsh.com/CountrySites/Peru/Inicio.aspx or directly here. The Executive Summary in English is available in RIMS Risk Knowledge library as well.
About Marsh
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 27,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With 57,000 colleagues worldwide and annual revenue exceeding US$13 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @MarshGlobal, or on LinkedIn, Facebook, and YouTube.
For more information, contact:
Josh Salter, Director of Communications, (212) 655-6059 or JSalter@rims.org
About RIMS
As the preeminent organization dedicated to promoting the profession of risk management, RIMS, the risk management society®, is a global not-for-profit organization representing more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. Founded in 1950, RIMS is committed to advancing risk management capabilities for organizational success, bringing networking, professional development and education opportunities to its membership of more than 10,000 risk management professionals who are located in more than 60 countries. For more information on RIMS, visit www.RIMS.org.