Presenter: Bob Anderson – BRM Services

Emerging risks rarely appear overnight. They evolve through identifiable stages — from early awareness to regulation and long-term control. The Emerging Risk Lifecycle Review tracks how new threats develop, gain visibility, and move through phases of recognition, harm, and mitigation.

Typically, risks progress through four stages:
Stage 1 – “Watch” (Early Awareness):
Signals begin to appear — research papers, small incidents, or niche industry concern — but no major losses yet.
Stage 2 – “Hurt” (Real-World Impact):
Incidents start occurring, causing financial or reputational damage. Media, regulators, and insurers take notice.
Stage 3 – “Mitigate & Regulate”:
Frameworks, standards, and legal responses emerge. Industries adopt controls and compliance structures.
Stage 4 – “Normalize & Monitor”:
The risk becomes integrated into standard governance, insurance, and operational models — but continuous monitoring remains essential.

This lifecycle approach helps insurers, risk managers, and regulators understand where each risk currently sits, anticipate what’s coming next, and allocate resources more effectively.

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