Ian Smith of the Financial Times quoted Gray Rhino & Company Founder and CEO Michele Wucker April 14, 2021 in the article, “Risk specialists draw lessons from Greensill saga.” The article analyzed the collapse of supply-chain finance provider Greensill Capital, after it suddenly lost insurance coverage, which created a domino effect.
“Companies need to ‘create a situation where there is not a bottleneck, where it is not if one insurer pulls out, everything is over,’ says Michele Wucker, author of You Are What You Risk, a study of risk published last week in the US. ‘Diversification of your insurance coverage, diversification of your income sources . . . in general is one of those things that is hard to praise too much,’ Wucker says. Using ‘worst-case scenario analysis much more systematically’ could also help, she adds.”