Fundamentals of Risk Management

PART FOUR FURTHER READINg
HM Treasury (2004) Orange Book: Management of Risk – Principles and Concepts, 
www.hm-treasury.gov.uk
Institute of Risk Management (2011) Risk Appetite 
& Tolerance, 
www.theirm.org
International Standard ISO 22301:2012 Societal Security. Business Continuity 
 
Management Systems – Requirements, 
www.iso.org
Taleb, NN(2008) The Black Swan: The Impact of the Highly Improbable,
www.penguin.co.uk
Taylor, E (2014) Practical Enterprise Risk Management, 
www.koganpage.com
United States Government (2004) Every Business Should Have a Plan, 
www.ready.gov
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Risk response
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PART FOUR cAsE sTUDIEs
Intu Properties: Insurance renewal
As part of the renewal processes for 2015, insurers were invited to visit Intu centres to see the 
business in action. As a result, significant interest was generated and a reduction in Intu’s insurance 
renewal rates of more than £1 million on a like-for-like basis was achieved and passed on to tenants.
The site visits were accompanied by a detailed presentation highlighting how Intu’s proactive 
approach reduces risk for both the insurers and the business, for example:
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National Counter Terrorism Security Office links for all centres;
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documented crisis management plan and procedures;
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documented emergency plans, for example threat-level response, business impact assessments;
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annual desktop testing of emergency plans for all centres;
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investing in ongoing training and development for employees to help them carry out 
responsibilities to a high standard;
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retailer duct-work inspection process to mitigate risk of fire;
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independent fire surveys carried out at all managed centres;
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direct relationships with loss mitigation company to minimize the impact of incidents;
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24-hour CCTV in use at all centres;
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police presence at centres including a number of police offices within the centres.
Edited extract from Intu Properties plc
Annual report 2015