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Implication for Corporate Governance
by William Peck
A number of major infrastructure failures have recently occurred in Australia, Canada, and New Zealand during the past two years. Each had a substantial impact on domestic and commercial users. Most of the commercial enterprises affected had not contemplated disruption of this type and, hence, were either uninsured or inadequately insured. Against this background, this paper focuses on four areas: The first section examines the characteristics of these risk types; the second section looks at the relevance of corporate governance and the role that holistic risk management and business continuity management should play in a properly governed organisation; section three examines what products the insurance industry currently offers and their limitations; and the final section examines what solutions the insurance industry could consider and the issues arising from implementing them.
The full paper has been published in Adobe Acrobat format. If you already have Adobe Acrobat installed, click here to view the paper. (234Kb)
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