Risk for banks

The looming risk for banks: biodiversity loss

Society faces a critical juncture in one of the defining challenges of our time: the loss of biodiversity. It places severe costs on our economy. Stakeholders require information regarding their exposure to nature-related risks, and how entities are improving resilience across strategic, operational and financial dimensions. But how does biodiversity loss impact financial institutions? Read more

Management of risks for future success!

When uncertainty strikes – the structured management of risks and quality is crucial for future success!

In today’s demanding times for policy-makers and public sector organisations in Europe, PRIMO and KDZ, therefore, join forces to offer comprehensive training and guideline for boosting public administration towards sustainability and resilience especially in a future crisis. The cooperation of PRIMO as leading European expert network for public risk management and KDZ as leading European expert center for quality management and CAF (Common Assessment Framework) enable out of the box approaches to further development of public sector organizations. It ensures added value and high benefits for the participants.

In our 3-module-based training, we aim to enable participants to understand the challenges, developing strategies to counter them, and get to know frameworks and tools, to implement within their organisation. Furthermore, within the interactive sessions, participants can even train on specific tools, engineered to optimize risk- and quality management – as a whole system and targeted on specific policy fields.

Come join us, overcoming challenges by finding out-of-the-box solutions.


Lessons in contract certainty

Strategic Risk.

Contract certainty is always important for businesses, but the coronavirus crisis has shone a light on just how risky it can be when things go wrong. The consequences when contract certainty is not in place can be severe, as Martin Hegelbach, Head Property & Specialty at Swiss Re Corporate Solutions, explains. Read more

Resilience solutions for pandemics


Issues Paper on resilience solutions for pandemics

European Insurance and Occupational Pensions Auhority (EIOPA)

The paper recognises that private insurance solutions alone will not be sufficient to protect society against the financial consequences of future pandemics. Solutions will require both public and private sector involvement, and build on the following four key elements:

  1. Proper risk assessment
  2. Risk prevention and adaptation measures
  3. Appropriate product design
  4. Risk transfer

Insurance relies on risk pooling. If, as in the current pandemic, the event affects an overwhelming proportion of society, and on a worldwide basis, insurance cover will not be supplied by private insurance undertakings at any price since the risk cannot be pooled or diversified geographically. One estimate is that current business interruption premiums in some markets would need to be collected for over 100 years to cover two months of COVID-19-related business interruption costs.

The lock-down measures, by which national or local authorities have restricted movement of (parts of the) population, have augmented the risk of business interruption. On the demand side, inability to insure has significant wider economic and social consequences such as businesses and individuals being unable to obtain loans and mortgages. This may well be an important second round effect of the Covid-19 crisis…

…This paper identifies issues and options for developing possible shared resilience solutions addressing business interruption risk in the context of a pandemic. Crucial elements in increasing society’s resilience will be proper risk assessment, risk prevention and balanced solutions for risk transfer across private and public parties. Read more

Ensuring Resilience of Public Sector Organizations

Ensuring Resilience of Public Sector Organizations with Quality and Risk Management

European Online Course

The Covid-19 crisis has revealed a lack of quality and risk management in many public sector organizations in Europe. PRIMO and KDZ, therefore joint forces to offer a comprehensive training and guideline for boosting public administration towards sustainability and resilience especially in future crises.

The cooperation of PRIMO as leading European expert network for public risk management and KDZ as leading European expert center for quality management and CAF (Common Assessment Framework) enable out of the box approaches to further development of public sector organizations. It ensures added value and high benefits for the participants.

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Through high-quality presentations and interactive sessions, the participants will get a detailed and practical understanding of the initial challenges within the topic of risk and risk management in modern governance structures.

After this course, the participants will be able to use the frameworks and tools which help to improve the quality, governance, and risk approaches and become more effective.

The course program consists of three main perspectives and is offered in 3 modules:

  1. Managing Quality and Risk in Public Sector Organizations (general knowledge of frameworks, methods and techniques, corporate perspective)
  2. From Global to Local: Climate Change and Energy transition – based on the explicit knowledge of PRIMO from the European think tank ‘From Global to Local’
  3. Tools and methods: Preparing Public Sector Organizations for future Challenges (Design Thinking and Online CAF tools).

Contents and main topics within each module of the training

Each of the following modules can be booked separately.

  • Module 1 – Managing Quality and Risk in Public sector Organisations
  • Module 2 – From Global to Local: Climate Change and Energy transition
  • Module 3 – Tools and methods: preparing Public Sector Organizations for future Challenges

Dates and duration

  • Module 1:    October 7th, 2020 / 10:00-16:00
  • Module 2:    October 29th, 2020 / 10:00-16:00
  • Module 3:    December 2nd, 2020 / 10:00-16:00


265 € excluding 20% VAT for each module booked individually. When selecting 2 modules, the second is charged 250 € (ex. VAT). When selecting all of the 3 modules, the second will be 250 € (ex. VAT) the third 235 € (ex. VAT). Therefore total-pricing is as stated (ex. VAT): 1 Module: 265 € / 2 Modules: 515 € / 3 Modules: 750 € for the complete training including all three modules. Please find more information regarding discounts and cancellation attached below.

Registration Deadline:  September 9th, 2020 for module 1

PRIMO_KDZ_course description

Increasing interest in Smart City

I see increasing interest in Smart City from our companies and residents

Michel Bezuijen* started his administrative career as councillor and first deputy mayor of the municipality of Haarlemmermeer. In 2013 he became mayor of the municipality of Rijswijk and in March 2019, the city council of Rijswijk nominated him for a second term as mayor. On June 18, 2020, Bezuijen was nominated by the Zoetermeer city council as the new mayor. He is scheduled to be appointed on 1 October 2020.

The energy transition is one of the greatest challenges of our time. We can only successfully complete this turnaround if we ensure that there is broad support. Retaining comfort, affordability and realism are key concepts in Rijswijk. As a municipality, we are very aware of what this means for our residents. That is why the focus of our own actions on affordability, efficiency and realism lies in our timetable.

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*Michel Bezuijne is former chairman of the board of PRIMO Nederland.

The Three Lines Model

IIA Unveils New Three Lines Model

The Institute of Internal Auditors has unveiled a revamped version of its famed Three Lines of Defense model for risk assurance. Perhaps the most notable change: no longer calling it the Three Lines of Defense.

Instead, the IIA guide is now officially known as “The Three Lines Model” — a nod to criticism over the years that the word “defense” led people to focus too much on risk reduction, rather than balanced risk management that would encourage a company to take proper risks, too. Read more

Insurance and Risk management degree

Malta University / Department of Insurance/ Insurance and risk management

To prepare yourself for a dynamic career in the ever growing Financial Services industry. Learn about different types of risks, risk identification, risk measurement, risk mitigation and risk transfer, the various jobs available within the industry and prepare the road to join the number of professionals and specialists in the area.

The general aim of the Bachelor of Commerce degree in Insurance, the B.Com. (Hons) Insurance and Risk Management, the M.A. Insurance and Risk Management and the M.Sc. Insurance and Risk Management will provide the formal educational requirements for students to function competently in professional, specialist and managerial positions in both the private and public sectors.

Insurance and risk management touch every aspect of daily life and business. When we wake up in the morning, we accept risk of potential injury to others and ourselves. When we operate our business, we encounter risks to our business property, reputation, and livelihood. It is what allows our lives and the economy to operate smoothly in spite of the risks and the reality that ‘bad things’ will occasionally happen and what makes us complete when things go wrong in both our personal and business lives and ensures business continuity.

The Insurance and Risk Management programme is revised each year to ensure that it remains relevant and up-to-date with recent developments in the financial markets. It provides students with an excellent background with which to proceed to the MA in Insurance and Risk Management offered by the department or any other M.Sc., M.A. or M.B.A. programmes offered both locally and abroad. It will help prepare you for a number of different jobs including becoming an actuary, an agent or broker, a claims adjuster, a customer service representative, a field representative, a loss control specialist, an underwriter a risk manager and internal auditor, compliance Manager, portfolio manager, portfolio analyst, portfolio advisor, etc.

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SDG’s as frame of reference

The board of PRIMO Europe has decided that the association explicitly accepts the Sustainable Development Goals as a referential set of public values for good governance. This will be expressed in the general communication of the association as well as in the use of products and services in the overall setting of the portfolio.

The association would like to formally express the following statement:

“PRIMO considers the Sustainable Development Goals (SDG’s) as a framework with essential and elementary public values for the development and delivery of its products and services related to good public governance in general and to public risk management in particular. The SDG’s are considered as a permanent set of referential points for all activities of its association.”

Structured Client Communications

Structured Client Communications: The Key to Manage Risk in a Business Relationship

Stephen P. D’Alessandro | International Journal of Finance, Insurance and Risk Management, Volume 10, Issue 1, 135-148, 2020

Purpose: The key objectives of this paper are to provide a review of the current context within a regulated sector such as financial services which call for structured communications as an integral part of overall corporate governance and to provide a practical perspective to the implementation of systems technologies which can be used to improve risk management in this sector.

Design/Approach/Methodology: The study was designed around a qualitative approach of data collection based on the author’s experience as the founder and director of a boutique software development firm. The data used as the basis for this paper is related primarily to the development and implementation of such solutions within the financial services sector. This data was supplemented with research into current best practices in communications management in a regulated environment.

Findings: The design, development and implementation of a communications management strategy is an essential foundation to the development of an ICT systems infrastructure and the related processes and procedures required to mitigate risk of poor communications with clients and other key stakeholders. Technology must be seen as the driver of innovation to meet the changing requirements of the varied client groups which demand increased convenience through multi-channel services and support.

Practical Implications: Practical experience often supplants academic qualifications when nominating and appointing directors. Moreover, female representation on the Boards of MLCs is still lacking. Notwithstanding the fact that the importance of having separate chairperson/CEO roles is acknowledged, there is likely to be strong resistance to any law rendering this mandatory.

Originality/Value: Studies relating to the importance of communications management are often lost in marketing and communications operations and do not get the attention of the Board of Directors which needs to make communications management a key element of the corporate governance framework within the organisation. This paper provides information that is of interest to members of the Board as well as senior executives within the operational departments of organisations operating in the financial services sector.

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