In one dramatic example, a major US auto manufacturer scrapped its plans to build a new plant extension after receiving the risk manager's evaluation of the business risks associated with the concentration of assets. The evaluation changed the economic model that management was wrong. This is a significant widening from the role of buying insurance. All these have altered the nature of risk and require new corporate responses. Yet the full potential of risk management is still to be appreciated by the majority of UK organisations.
Perception still lags behind reality.
Through networking, educating and lobbying, the Association is spreading the word about the strategic importance of modern risk management and encouraging higher standards of practice. It derives its strength in playing this vital role from its membership - blue chip companies and individual risk managers all across the UK as well as overseas.