History

The Institute of Risk Management (IRM) was founded in April 1986 in response to a growing demand at that time for a diploma course in risk management. Led by AIRMIC (The Association of Insurance and Risk Managers), help and encouragement for the initiative was provided by the Royal Society, the Geneva Association, the UK Department of Education and Science, the UK Department of Trade and Industry, the UK Health and Safety Executive, Glasgow Caledonian University and other commercial and organisational supporters, in order to establish the new Institute.

At its formation, it was recognised that the multi-disciplinary nature of risk management called for a specialist institute working in co-operation with other centres of risk expertise around the world. This is still true today, with IRM working actively with partner organisations both in the development of new educational programmes and other projects such as the development of the Risk Management Standard.

In 2005 an introductory International Certificate in Risk Management was brought in to complement the existing Diploma level qualification. A range of training courses and other activities to support the professional development of risk management professionals have also been introduced.

Over more than 20 years the IRM has emerged to become a leading force in risk management education, with around 3,000 members in over 50 countries worldwide.

IRM is a company limited by guarantee, i.e. a ‘not-for-profit’ organisation and is governed by a Board of Directors elected from Members and Fellows of the Institute. Any surplus generated by the IRM's activties is ploughed back into the development of risk management education.