Category: Risk Management Insights & Impacts

No time to be idle when it comes to protecting facilities
17 July 2020 | Feature Article

No time to be idle when it comes to protecting facilities

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COVID-19 is a major risk that has left its mark very quickly, leaving risk managers and boards in the position of having to deal with an unprecedented situation with a lot of uncertainty. One of the major risks for the mining industry is whether they may have to shut down and leave idle major facilities. We’ve already seen forced closures in mines overseas and Australia could be next. Michael Beaumont discusses why boards and risk managers need to prepare today for the possibility of a pandemic related shutdown and idling of sites down the line. His warning is that, in the current environment, calls for facilities to be shut down could come suddenly and traditional hazards remain in addition to new ones, so operators must be prepared.
WHY BUSINESSES MUST INVEST NOW TO PREPARE FOR CLIMATE RISK
08 April 2020 | Feature Article

WHY BUSINESSES MUST INVEST NOW TO PREPARE FOR CLIMATE RISK

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With climate risk top of the agenda, directors must ensure their companies are protected during extreme events, says FM Global Operations Chief Engineer Michael Stuckings.
WHAT TO DO DURING AND AFTER A BUSINESS SHUTDOWN
27 March 2020 | Feature Article

WHAT TO DO DURING AND AFTER A BUSINESS SHUTDOWN

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The coronavirus (COVID-19) outbreak has forced unprecedented sudden closings of facilities around the world. This article outlines some important steps to take to help minimise property loss during and after shutting down a facility.
CORONAVIRUS SPREADS TO BUSINESS OPERATIONS
27 March 2020 | Feature Article

CORONAVIRUS SPREADS TO BUSINESS OPERATIONS

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Being resilient means preparing for everything—including infectious disease. The coronavirus (COVID-19) outbreak is disrupting organisations in ways not previously experienced or planned for. What can you do to protect your business?
VIRTUAL CLIENT LEARNING LESSONS
25 March 2020 | Feature Article

VIRTUAL CLIENT LEARNING LESSONS

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Attention FM Global clients: Whether or not your business has been affected by the coronavirus pandemic, you can be sure of one thing—now is the perfect time to learn all you can to make your business more resilient.
ENERGY STORAGE SYSTEMS AND FIRE PROTECTION
12 March 2020 | Feature Article

ENERGY STORAGE SYSTEMS AND FIRE PROTECTION

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Lithium-ion battery-based energy storage systems (ESS) are in increasing demand for supplying energy to buildings and power grids. However, they are also under scrutiny after a number of recent fires and explosions. To increase awareness of what can be done to improve safety around this technology, commercial property insurer FM Global has publicly released groundbreaking research and recommendations.
BUILDING RESILIENCE IN COMPLEX INTERNATIONAL SUPPLY CHAINS
12 February 2020 | Feature Article

BUILDING RESILIENCE IN COMPLEX INTERNATIONAL SUPPLY CHAINS

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Companies are increasingly vulnerable to indirect supply chain disruptions and need to factor this into their supply chain risk management. Despite the increasing complexity of supply chain risk management, it seems executives in C-suites could do more to address the issue directly.
Grappling with cyber complacency in the mining sector
10 February 2020 | Feature Article

Grappling with cyber complacency in the mining sector

(/2020/02/09/grappling-with-cyber-complacency-in-the-mining-sector)
A recent survey by Pricewaterhouse Coopers found that Australian CEOs view cybersecurity risks as their greatest threat to business growth. Yet many mining executives are reporting that it would take a “catastrophic” cyber incident for industry to act and build adequate cyber resiliency.
A new approach to managing evolving risks in gas turbine technology
07 February 2020 | Feature Article

A new approach to managing evolving risks in gas turbine technology

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As Australia drives towards 24 per cent renewable energy generation this year and up to 50 per cent by 2030, the challenge of managing evolving risks becoming more urgent. We expect to see even more gas turbines modified or upgraded to cater for this change in the generation mix. New gas turbine technology coming to market is increasing resilience by allowing existing turbines to be operated in peaking mode, cycling mode and fast starting mode.
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