by Daniel Ralph, Andrew Coburn, Jennifer Copic, Simon Ruffle, Michelle Tuveson. The 2018 version of the Cambridge Global Risk index sees risk up, with expected loss increasing to 1.54% of the world’s 2018 GDP, compared to last year’s index of 1.48% of 2017 GDP. This change is largely driven by an increase in geopolitical risks,… Read more
This post was originally written as part of the Institute for Risk Management’s Risk Agenda 2025 – a project investigating the future of risk and risk management in 2025. Dr Tuveson’s post is also available to be read here. It is a truth universally acknowledged that a corporation in possession of a good fortune is… Read more
As this is an on-going event and news story, please check back for regular updates. Pandora scenarios suggest Houston economy could lose $27 to $60 Bn of output as a result of Hurricane Harvey Flooding The economy of Houston, Texas could lose $27-60 Bn of economic output in the next year as result of… Read more
Please read the latest update of this evolving story. Read more
Tuesday, 28 February, saw “high error rates” in multiple AWS services in the US’ eastern region. These began in the S3 service provided by the US-East-1 North Virginia site before spreading to other services hosted by US-East-1 including CloudWatch, EC2, Storage Gateway, and WAF (web application firewall). Disruptions to the S3 Service, which allows clients… Read more
The motto of the Tyrell Corporation – the corporation responsible for android production in Ridley Scott’s 1982 classic Blade Runner – is “more human than human”. As autonomous systems become increasingly ubiquitous and permanent fixtures in modern societies, there is both concern and curiosity that our not-so-distant future resembles something out of a science… Read more
Greater use of civil and administrative sanctions will steer good corporate behaviour more effectively than prescribed risk culture as a regulatory tool divorced from business relevance, say Dr Michelle Tuveson and Professor Danny Ralph, Directors of the Cambridge Centre for Risk Studies. Their paper “Is Regulation of Risk Culture the Missing Piece? Civil Actions Reconsidered”… Read more
In the Cambridge Centre for Risk Studies we have developed a framework to quantify the potential damage from a Pandora’s box of all ills – a comprehensive taxonomy of catastrophes. The methodology and outputs speak directly to the value of investing in resilience. The analysis has been made possible by novel ‘Catastronomics’ techniques to analyse… Read more
SSL/TLS is an encryption mechanism that keeps your data confidential between your browser and a webpage. This system protects your data between you and (for example) your bank. To do such things, a bank needs a certificate. That certificate can be verified easily and quickly if it is provided by a certain type of certificate… Read more
Risk Managers have never been short of data – they are usually drowning in it – so they can be forgiven for not getting too excited about the prospect of ‘Big Data’: the idea of orders of magnitude more digital information becoming available about everything. Risk managers monitor the variation in performance of their companies… Read more
