. 5 Misconceptions about Risk Management | Meetings & Conventions Asia

5 Misconceptions about Risk Management

Keep attendees safe by having a proactive risk mitigation plan in place. Planning for an overseas event or travelling overseas for work require one to keep an eye on Murphy's Law as any disruption would prove to be costly and highly inconvenient. We look at some of the blind spots that could prevent one from preparing for worst-case scenarios. 

 Franck Baron, group general manager of risk management and insurance, International SOS shares some common misconceptions about risk management.

1.   "I have already purchased travel insurance"
Travel risk management includes access to the highest possible level of travel, medical and security advice and services which many insurance companies do not offer. Our services complement that of insurance companies to ensure smooth medical services delivery to their business travellers.

2.     "I am healthy - no need for pre-travel health check"
Even a minor health or security issue, if unchecked, can quickly escalate into a more serious problem. Preparation is critical to protecting your health.

3.  "It is just a short trip"
It is important for travellers to stay up-to-date on medical and security risks regardless of destination, to help avoid costly emergencies.

4. "I have been to XXX country before and nothing has happened"
In an ever-changing world where the medical and security risk rating of a destination are subject to fluctuations, it is important to have access to the latest information on developments and travel advice on how to respond in emergency situations.

5. "What's in it for me if I invest in a risk mitigation programme?"
Protecting your biggest asset should be a key priority under any circumstance. According to Return on Prevention - a recent study by International SOS Foundation - there are tangible commercial incentives to investing in preventive programmes, in addition to fulfilling an organisation's duty of care. Additionally, employee malaria prevention programme have shown to reduce fatal cases by 70%, helping companies build their reputation as an employer with employee well-being at its heart.

*Extracted from interview with Franck Baron, Group General Manager, International SOS