Is the world a riskier place than before? Many say yes, pointing to climate change, terrorism, pandemics and an almost endless list of other threats. For those of us in business, we just need to think about Andersen the auditors who was “the gold standard” within their profession and then disappeared within months, innovations like the iPod, Napster and Google that create or reshape whole industries. Risks are increasingly caused not by nature, but by new technologies and human acts.

On the other side, life has certainly become less risky in important ways for people in may countries. Over the past century life expectancy has risen by two thirds, we have cures for more diseases, workplaces and the wider environment have become less hazardous, , and we can insure ourselves against the financial consequences of more risks.

Riskier or not, the risk picture is changing. DNV has coined the term “the new risk reality”. By this we want to point out that:

• Companies today are operating in an increasingly global, complex and demanding risk environment
• Society at large is gradually adopting a “zero tolerance” for failure. There are stricter regulatory requirements and increased demands for transparency and business sustainability
• New technologies have benefits – and introduce new risks.