spRING 2011 GlobAl MARKETs INTERNATIoNAl - Willis
spRING 2011 GlobAl MARKETs INTERNATIoNAl - Willis
spRING 2011 GlobAl MARKETs INTERNATIoNAl - Willis
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sPeCIal ContIngenCy rIsks<br />
Risk ReduCtioN, Risk tRaNsFeR, Risk MitigatioN<br />
In order to ensure that a company is adequately protecting its most<br />
important asset, being its employees, minimising the threat of a kidnap<br />
to employees cannot be done through risk transfer (i.e. insurance) alone.<br />
A comprehensive, integrated and holistic approach to kidnap exposure<br />
of risk reduction, risk transfer and risk mitigation will enable a company<br />
to meet its duty of care towards employees.<br />
Risk Reduction<br />
Prevention<br />
| <strong>Willis</strong> | Mining Market Review <strong>2011</strong><br />
Risk Transfer<br />
Insurance<br />
Risk Mitigation<br />
Crisis Management<br />
CoNsideR the FolloWiNg sCeNaRio:<br />
It is late Friday afternoon and in your<br />
capacity as CEO of a mining and exploration<br />
company you have just finished a<br />
successful conference call with your major<br />
institutional investors. Thoughts have<br />
turned to a relaxing weekend when the<br />
phone rings. It is the regional manager<br />
from your West Africa Headquarters.<br />
A member of his management team has been<br />
kidnapped. Information surrounding the<br />
event is limited other than the gang who<br />
perpetrated the kidnap have demanded,<br />
through the local media, USD 3 million for<br />
safe release. The regional manager wants to<br />
know who is going to manage the situation,<br />
who is going to liaise with the family and<br />
how should he deal with the media who<br />
are camped outside his office building.
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