New Risk Management Findings from Royal Institute of Technology Described

By a News Reporter-Staff News Editor at Insurance Weekly News -- Fresh data on Risk Management are presented in a new report. According to news reporting from Stockholm, Sweden, by VerticalNews editors, the research stated, "Ethical analysis is often needed in the preparation of policy decisions on risk. A three-step method is proposed for performing an ethical risk analysis (eRA)."

The news correspondents obtained a quote from the research from the Royal Institute of Technology, "In the first step, the people concerned are identified and categorized in terms of the distinct but compatible roles of being risk-exposed, a beneficiary, or a decisionmaker. In the second step, a more detailed classification of roles and role combinations is performed, and ethically problematic role combinations are identified. In the third step, further ethical deliberation takes place, with an emphasis on individual risk-benefit weighing, distributional analysis, rights analysis, and power analysis. Ethical issues pertaining to subsidiary risk roles, such as those of experts and journalists, are also treated in this phase."

According to the news reporters, the research concluded: "An eRA should supplement, not replace, a traditional risk analysis that puts emphasis on the probabilities and severities of undesirable events but does not cover ethical issues such as agency, interpersonal relationships, and justice."

For more information on this research see: How to Perform an Ethical Risk Analysis (eRA). Risk Analysis, 2018;38(9):1820-1829. Risk Analysis can be contacted at: Wiley, 111 River St, Hoboken 07030-5774, NJ, USA. (Wiley-Blackwell - www.wiley.com/; Risk Analysis - onlinelibrary.wiley.com/journal/10.1111/(ISSN)1539-6924)

Our news journalists report that additional information may be obtained by contacting S.O. Hansson, Royal Inst Technol, Div Philosophy, Stockholm, Sweden.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1111/risa.12978. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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