Over one third of the risk management budgets will increase
 MARSH's latest study shows that top managers of large European companies are most concerned about risks related to customers and to credit access, in the conditions in which they are preparing the coming out of the crisis.
Almost two thirds of the respondents (62%), of seven economic sectors, have identified as the most important risks the financial and the macroeconomic ones, trade credit being the most important of them (31% of respondents).
Asked how concerned they were with the risks associated to the four groups of partners - customers, suppliers, insurers or outsourcing partners - the majority response in each country and 58% overall was related to clients.
MARSH's study highlighted that, in response to the crisis, over two thirds (69%) of the organizations surveyed have revised their risk aproach. Almost three quarters (73%) of the participants noted that now, more than ever, risk management is an essential component for the proper management of the company they run. According to the MARSH study, risk management was one of the few segments that have not suffered greatly after budgets reorganization. Thus, only 5% of managers surveyed expect the budgets dedicated to risk management to decrease, and 34% of them expected increases.
"Even though it's very encouraging that one third of large European companies think to increase budgets dedicated to risk management, I think it is important that more companies in Romania follow their exemple. This type of investment brings a vital competitive advantage for a company who wants to better manage the recovery from the crisis and who thinks a long-term development plan", details Cristian FUGACIU, General Manager, MARSH Romania.
"Cautious managers may free a lot of working capital from the balance sheets, if they have a better understanding of the risks their companies are facing in this period, of the insurance costs and of how risk exposure can be minimized", explains Cristian FUGACIU.
MARSH's latest report, "The Emerging Future of European risk management" is one of the most comprehensive research studies of risk management done since the beginning of the crisis, so far. It included over 700 companies with turnover exceeding EUR 50 million each.
Author: Mihaela CIRCU
on 01.12.2009
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