An eye for detail

With risk management, the devil is certainly in the detail, as offering the wrong advice could land a firm in court. However, with brokers and insurers increasingly looking to adopt this service, Martin Friel explains that the simplest advice is usually the best

"It is dangerous to dabble," says James Shrimpton, a partner at Davies Lavery, as he discusses the pros and cons of broker risk management. Although it has become something of a buzz word in the past few years among insurers, brokers and their clients, there are, as Mr Shrimpton identifies, inherent risks for brokers looking to become involved in risk management.

Revenue streams have narrowed and new market entrants are continually picking away at traditional brokers, forcing them to expand their