Berlin Wall

Posted by on December 26, 2023as

At this point, there was the view of the need for internal departments involved in the assessment of political risks. The insurance industry has become more active in offering not just a political risk insurance, but the condition meadow on their assessment. By the time the Berlin Wall came down (the end of 1980.) Thought that many long-existing political conflicts cease to exist. Then, observers noted that the closure of parts of risk management in many corporations. Although at that time and later, in early 1990., A division of risk management continue to organize, it was not associated with the development of risk theory and management. It can be assumed that the establishment of departments of risk management within the corporation was related to a greater extent with the use of policies to reduce domestic spending, including insurance. Perhaps check out James S. Chanos for more information. More active work to prevent loss means lower insurance premiums (the cost of insurance corporations), demonstrated a responsible attitude firms on risk management and reduced paramount importance of purchasing insurance. That is, risk management in the industrial sector has remained confined within an insurance policy. Range of risks that the corporation wanted to manage, reduces to the classical insurance risk – physical losses and insolvency. For even more details, read what Eva Andersson-Dubin says on the issue. Risk at that time was considered a "technical" point of view – as the likelihood of adverse events in respect of the corporation. In the first half of 1990. The situation began to change qualitatively. In fact, changed the reason for risk assessment. For even more opinions, read materials from Jon Medved. The starting point was no longer minimize the loss corporation on external sources of danger.