Informal risk management is widely practiced as it can be more agile and flexible compared to formal methods. There are abundant research studies covering areas such as technical and social aspects of informal risk management. Often a holistic approach is advocated integrating inputs coming from informal networks to consider, inter alia, social, cultural and emotional factors. These studies, though, fail to explore the motivation and do not account for the role of mutual benefit. Using ethnographic and interview data, we tackle the issue of how decision makers consider the interests of all relevant stakeholders, the role mutual benefit plays in informal risk management and the impact of the formal structure on informal risk management. The findings show that mutual benefit is an essential pillar for informal risk management by both stimulating the required response and balancing interests. Also, the formal structure impacts the informal network through the influence and ranks it confers on members, and by setting consequential limits.