Topic: Protection, Growth and Resilience: Getting the most from your Risk and Insurance Strategy
Day: Wednesday 21 October 2020
Time: 1:50pm-2:10pm AEDT
We are entering a different governance paradigm for aged care services and traditional risk frameworks and approaches won’t cut it. Rethinking risk management is critical in an environment of more complex risks, more frequent disruptions, more public scrutiny and a hardening insurance market.We are entering a different governance paradigm for aged care services and traditional risk frameworks and approaches won’t cut it. Rethinking risk management is critical in an environment of more complex risks, more frequent disruptions, more public scrutiny and a hardening insurance market.Building the effectiveness and capabilities of risk management will support good governance, help prevent harms and assist organisations to achieve their strategic goals. But that will not happen organically.Our uncertain times provides organisations with two clear choices for risk management:1. Remain passive and hold on, or 2. Build and renew to grasp the opportunities ahead.Ansvar is a leading insurer and risk advisor for the Australian aged care sector; insuring over 800 providers and engaged by boards and executives to advise on governance and risk management frameworks. In this session we share our industry specialist knowledge and experiences to explore important risk governance and insurance considerations for boards and executives to deal with the times ahead.The COVID-19 pandemic has exposed critical shortcomings in risk management and we will include in this session our learnings from this.Acknowledging that governing for vulnerable people is a unique responsibility, we also look at the 5 key aged care sector risks that require close attention and ways to strengthen risk frameworks and insurance responses to manage these. Our session includes:1. Aged Care Risk Management for Boards; the shift from “managing risks” to “managing objectives”. How organisations are transforming risk thinking for better decision making. 3 Actions to make enterprise risk management work for you (not the other way around). Assessing risk maturity (the question of really how effective is your framework?2. 5 Risks on the Radar: manage well and reap rewards; suffer from them and face disruption. Examine the “big risks” confronting the aged care sector We share the drivers that lead to these risks impacting organisations What can boards do to be ahead of these risks?3. Aged care business has changed; so has Insurance. What does the future hold for insurability of aged care? Key observations of insurance claims trends and future impacts of sector reviews and disruptions. How is the insurance market adapting to meet the needs of a changing sector? What are the implications for Directors and Officers for ensuring effective risk management as it relates to insurability?
Anthony is a Senior Consultant, with a strong care sector and risk management background. With a background of nursing and as a health executive, he understands the challenges and uncertainties of managing complex services, particularly in the aged care sector, where he has held senior roles.
Joining Ansvar in 2018, he has led ERM services to our specialist sector clients across Australia. Anthony takes a practical and tailored approach to risk management; designed to shift focus from traditional methods to more strategic thinking and approaches for good governance.