Bureaucratic process, 2
Business continuity, 12
Business risks
car sales scam, 85
consequential losses, 24
cost-effectiveness, 25
cyber-risks, 53
damage to reputation, 53
economy, 39
effectiveness, 39–40
efficiency, 39
employee absence, 53
insurance, 54
intangible risks, 24
large projects, 24
lions and hedgehog example, 92
machinery breakdown, 53
motor insurance scam, 86
payroll section, 85
property damage, 53
remote risks, 24
risk categories, 34
risk management, 33–35, 55
seasonal factors, 55–57
supply chain, 54
third-party claims, 24
Car sales scam, 85
Cash flow, 45
Clients, 46
Common sense, 1–2
Compliance, 4
Computerized systems, 22–23
Conceptually uninsurable risk, 13
Consultant, 30–32
Controls, 83–84
Cost of risk, 8–10
Cyber, 11
Cyber risk, 53
data breach, 63
data protection
myths, 59–62
technical aspects, 64–65
old computers, 67–68
poor management, 59
scammers, 68–69
self-employed people, 51
UK Government’s Cyber Essentials Initiative, 66–67
unwanted software, 68
Data breach, 63
data protection
example, 93
myths
box-ticking exercise, 62
fines and penalties, 61
IT matter, 59–60
legal requirements, 62
outsourcing, 60
technical aspects, 64–65
Data Protection Acts, 62
Decision-making process
desirability, 36
feasibility, 36
viability, 36–37
Economy, 39
Employer training, 46
Environmental risk management, 11
Escalators, 92–93
External risk management, 15, 34, 35
Faith and risk management, 79–81
Financial consequences, 11
Financial risk
computers and financial function
batch input system, 87
cheque list, 87–88
credit note, 87
French fleet blockading objectives, 88–89
organization’s reputation, 86
Fraudulent claims, 76–77
Health and safety, 1
Health and Safety at Work Acts, 62
Horse riding accidents, United Kingdom, 25–27
Inspection systems, 83
Insurance premiums, 1
additional cost, 8–9
business interruption, 54
claims
defensive action, 77–78
factors involved in, 72–73
fraudulent claims, 76–77
liability insurers, 74–76
steps involved in, 73–74
cost-effectiveness, 9
elements to cover, 71–72
needs, 23–25
risk analysis, 19–20
risk management, 5–6
IT controls, 83
Landlubbers, 94, 95
Legally uninsurable risk, 13
Liability insurers, 74–76
Lines of defense, 16
Money bags, 83
Motor insurance scam, 86
Negotiation, 37–38
Networking, 48
Noonday gun, 90–91
Operational risk, 34
Outsourcing, 46
Ownership, 15
Partnering, 48–49
People-related risks, 10
Private sector management, 43
Probability of risk, 2, 17–18
Property, 10–11, 45–46
Public sector management
challenge, 41–42
compete and compare, 42
consult, 42
controversial reforms, 41
Religious belief, 79–81
Resilience, 12
Risk analysis, 19–20
Risk appetite, 21
Risk assessment process, 16–17
Risk evaluation
gearing, 20
risk appetite, 21
unknown variables, 20–21
Risk gearing, 20
Risk management
awareness, 2
business risks (see Business risks)
compliance, 4
computerized systems, 22–23
consultant, 30–32
cost of risk, 8–10
cyber, 11
decision-making process, 36–37
environmental, 11
external risk management, 15
and faith, 79–81
financial consequences, 11
insurance premiums (see Insurance premiums)
liability, 12
lines of defense, 16
misconceptions, 1–2
motor, 11
over-cautious attitude, 27–28
ownership, 15
people, 10
probability assessment, 17–18
procedures and training, 16
property, 10–11
regulations, 11
reputational, 11
resilience/business continuity, 12
risk control measures, 8
risk survey, 6–7
road accidents, 28–29
severity assessment, 18
stress management, 7
supply chain, 12
uninsured risks, 12–14
Risk register, 21–22
Sales force
compliance issues, 52
“gray” fleet risk, 52
lone working, 52
overpromising, 52
reputation, 51
risk minimization, 52–53
stress, 52
Seasonal factors, 55–57
Self-employed people
benefits, 50
control measures, 50
cyber risk, 51
distractions, 50
health and safety checks, 50
Severity assessment, 18
Severity of risk, 2
Small business
networking, 48
one-person business, 48
risk and business size, 47
specialist skills and knowledge, 47
Smartphone, 94
Strategic risk, 34
Stress management, 7
Superfluous audit checks, 83
Supply chain, 12
System review, 46
Time-consuming task, 2
UK Government’s Cyber Essentials Initiative
benefits, 67
certification, 67
key controls, 66
Uninsured risks, 12–14
Unwanted software, 68
Voluntary sector
elements of managing risks, 58
factors affecting, 57–58
Win-lose model, 38