Following an Initial Public Offering (IPO), a Marsh client in the chemical sector was required to provide evidence of effective corporate governance through developing a framework for managing risk. Marsh ran a series of board-level workshops to identify the main risks to the business.
A risk register was produced and subsequent controls allocated to senior management. The exercise integrated the risk management activity that had previously taken place in silos. The cumulative effect was to save the company £1.5m.
Managing your risk