My fellow panellists on the main debate were asked what would be the big issues that risk and insurance managers would have to deal with in 2012.

They all said that obviously risk managers would keep a close eye on the state of the insurance market and the potential for a hardening market.

But the real topic on everyone’s mind is clearly the state of the global economy and Europe’s ability to pull itself out of the debt crisis that it has dragged itself down into.

It is important to all of you whether corporate insurance rates remain flat or rise by 5-10% and we will of course keep a close eye on what is likely to happen next.

Some of our readers express annoyance that we all seem obsessed with the direction of insurance rates and availability of capacity but for most this seems to remain a significant concern.

But this micro supply and demand confluence does seem pretty insignificant when compared with the real prospect of a dramatic financial crisis in Europe that seriously threatens to throw the continental, and even global, economy into a prolonged recession.

The reaction of most forward-thinking European companies to the economic downturn already experienced and that which almost certainly lies around the corner is to look for growth and survival elsewhere.

It is no surprise that the pages of Commercial Risk Europe this year have been dominated by talk of solutions to the problems associated with global programmes and the need for a more joined up approach to cross-border risk and insurance management problems.

The front page of this issue again covers the latest changes to planned insurance regulations in Brazil which is important to any company hoping to break into this fast growing market.

The Japanese earthquake and subsequent tsunami and more recently floods in Thailand have reminded us all, however, of the huge risks inherent within the surely reckless expansion that most European companies have made into emerging markets in recent times to try and compensate for sluggish domestic growth.

Surely it is time to take stock at this point.

Japan and Thailand have proven beyond all reasonable doubt that the dash for growth in far-flung markets through the adoption of low cost but flaky new production and distribution systems that are inadequately risk managed is a big long-term risk.

Risk managers all over Europe have spent the last 12 months bemoaning the lack of innovation delivered by the insurers and reinsurers as they seek new markets and attempt to bridge new frontiers at every opportunity.

But you really have to ask whether these risk managers, the readers of CRE, have a leg to stand on at times.

Are they, in reality, playing catch-up with revenue- hungry marketing directors and CEOs who only have an eye on the next set of quarterly numbers? Can they really blame insurers for taking a more cautious view of such unfettered expansion when so many of their even most well-managed companies at home, appear to be taking such a cavalier approach to risk as they expand overseas?

CRE is the voice of the European risk and insurance manager.

We launched this publication with the full support of Ferma and the national European risk and insurance management associations to champion their members’ cause and challenge the insurers and brokers at every opportunity.

The big industrial insurers and to a lesser extent brokers have supported the concept by funding us via advertising and, to their immense credit, have done so without expecting any preferential treatment. We are 100% independent and in the buyer’s corner and will always be so.

But, we also have to challenge the risk and insurance managers themselves.

Yes the insurers and brokers must do more to spark innovation in this at times remarkably sluggish industry.

But how often and strongly are risk managers really challenging their board members about the real business cases behind these cost-driven production and distribution systems in new markets?

Can they really scream foul when the reinsurers inevitably pull the capacity at the next renewal because they are not really in control of their supply chain exposures?

Risk management is supposed to be as much about opportunity as risk and so it should be.

But surely the real, fundamental value of the risk manager is that she or he is totally on top of the risks that the organisation incurs with every business activity and that they are able to remind the revenue-hungry marketing director and CEO about the risks attached to the revenue opportunities of which they are so keen to take advantage.

By doing so the risk manager is able to provide the fact- based analysis that enables their bosses to make a risk-based and rational analysis of the business case.

This is why CRE ventured out to South Africa and Australia last month and why we are stepping up our coverage of the Brazilian and wider South American market and also Asia.

We are fully aware that the future growth for most European companies lies outside of Europe as they seek to hold their position in the highly regulated European market.

For this reason we will spend a great deal of our time and effort next year expanding and improving our coverage of the key growth and so-called emerging markets to help our readers identify, measure, manage and transfer the risks that will make or break their expansion and survival efforts.

At the same time we will expand our readership outside of the core European markets to risk and insurance managers based in those territories that European companies have identified offer the best potential for growth.

As ever, your guidance and direction on where we should best focus our efforts is essential to the continued success of our effort. Please do continue to tell us what we should be writing about, when, where, how and why and we will respond.

I look forward, as ever, to receiving your input, positive or negative.

Adrian Ladbury

Editor—Commercial Risk Europe

aladbury@commercialriskeurope.com

Please sign up here to our full-time mailing list to ensure that you receive our weekly newsletter.

• More Risk Management News