Newly empowered employees and operating units may undertake activities and actions unanticipated by senior management, some of which will create harm. The answer lies in building a stronger sense of risk awareness and ownership at employee and unit levels. This bias toward decentralization, coupled with risk awareness and a long view, means both creativity and strong risk management. A formal business risk controls policy is approved by management and the board, is widely distributed and clearly understood. When this happens, the discredited practice of fragmentation will be broken.
Research harbors a lot of second and third-rate people.
While many organizations are now demanding direct discussions and negotiations with their risk financing underwriters and direct payment of premiums to them, one of the world's oldest markets, struggling to survive, cannot seem to grasp the change that is taking place. I admit that the architects of the Plan need the financial support of the brokerage community to sell the Equitas solution. A scuttling of commissions at this point might well scuttle the recovery as well. The role and remuneration of traditional intermediaries will be reduced. Insurance quotations will be net of these costs.