Risk Management

Founded in January of 1954, Risk Management is a monthly magazine that features news and industry analysis for corporate risk managers. The magazine has a circulation of 16,000 readers and is published by the Risk and Insurance Management Society Inc. Morgan O'Rourke is Editor-in-Chief. Jared Wade is Editor. Bill Coffin is Publisher/Editorial Director.

Articles from Vol. 50, No. 4, April

Chicago City of Builders
Chicago is a living museum of modern architecture. No other city in the country boasts such an impressive array of twentieth century building or such a rich history of architectural innovation. It is the birthplace of the skyscraper, home to enduring...
Chicago: City of Builders
Chicago is a living museum of modern architecture. No other city in the country boasts such an impressive array of twentieth century building or such a rich history of architectural innovation. It is the birthplace of the skyscraper, home to enduring...
Chicago Culture and Art
Chicago is one of the most culturally diverse cities in the world, a product of immigration, lakeside setting and economic prosperity, Historically populated with individuals of European and African descent, Chicago has evolved into a global village...
Chicago: Culture and Art
Chicago is one of the most culturally diverse cities in the world, a product of immigration, lakeside setting and economic prosperity. Historically populated with individuals of European and African descent, Chicago has evolved into a global village...
Chicago Flavor
The food of Chicago is rich not just in flavor, but also in history. Hot dogs, pizza and steak define the city as much as blues music or the Sears Tower. Chicago food reflects a tradition of immigrant roots and blue collars, a quality that historian...
Communication by Consensus
Breaking the Risk Barriers One of the reasons government authorities were unable to prevent the September 11 attacks was that the groups that knew about the activities of the terrorists failed to share their knowledge. Many individuals knew about critical...
Communication by Consensus: Breaking the Risk Barriers
One of the reasons government authorities were unable to prevent the September 11 attacks was that the groups that knew about the activities of the terrorists failed to share their knowledge. Many individuals knew about critical risk elements regarding...
Conference Highlights
This year's 41st RIMS Annual Conference & Exhibition at McCormick Place in Chicago promises to offer something for risk management professionals from all backgrounds and experience levels. From April 6 to 10, the Risk and Insurance Management Society...
Datebook
41ST ANNUAL RIMS CONFERENCE AND EXHIBITION APRIL 6-10 CHICAGO Contact: 212.286.9292 conferenceadmin@rims.org www.rims.org/registernow This year's conference, intended for risk management professionals from all backgrounds and experience levels,...
Ethics and the Risk Manager
The ethical exposure--any risk a company takes by behaving unethically--is not mentioned in risk management textbooks. Yet, unethical behavior can expose a company to potential property loss, liability torts and other risks. The risk manager need not...
Exhibitor Roster/floorplan: 41st RIMS[R] Annual Conference & Exhibition: April 6-10, 2003 * Chicago, IL as of 2.10.2003
EXHIBITOR ROSTER/FLOORPLAN 41ST RIMS[R] Annual Conference & Exhibition April 6-10, 2003 * Chicago, IL A @Global 1056 A.M. Best Company 1322 abd...
Finding One Voice
The traditional approach to risk management-limited to compensating for losses by injection of fresh capital via cash delivered by an insurer in exchange for a premium paid beforehand-cannot satisfy the survival criterion in the current business environment....
Finding One Voice: To Give a Purer Sense of the Tribe's Words
The traditional approach to risk management--limited to compensating for losses by injection of fresh capital via cash delivered by an insurer in exchange for a premium paid beforehand--cannot satisfy the survival criterion in the current business...
Five Decades of RM
Looking Back As Risk Management Magazine celebrates its fiftieth birthday, join us as we page over half a century of observation and analysis. 1950s If the risk manager is to perform his broad duties, he must be supported by a strong department. It seems...
Five Decades of RM: As Risk Management Magazine Celebrates Its Fiftieth Birthday, Join Us as We Page over Half a Century of Observation and Analysis. (Looking Back)
1950s If the risk manager is to perform his broad duties, he must be supported by a strong department. It seems appropriate, therefore, to consider the organization of an ideal risk or insurance department. It is recognized that the structure of...
Five-Minute Interview: Chrisopher Mandel
Executive Q&A departments khristopher Mandel is the assistant vice president of enterprise risk management for USAA and is the 2002-2003 president of the Risk and Insurance Management Society. He has served RIMS in many capacities since 1988, and...
Five-Minute Interview: Christopher Mandel. (Executive Q&A)
Christopher Mandel is the assistant vice president of enterprise risk management for USAA and is the 2002-2003 president of the Risk and Insurance Management Society. He has served RIMS in many capacities since 1988, and was elected to the Executive...
Getting Claims Paid by Guaranty Associations
Most states have guaranty associations that pay claims owed by insolvent insurance companies. Although the requirements for obtaining recovery from guaranty associations differ from state to state, there are many similarities. Recovery from Several Associations...
Getting Claims Paid by Guaranty Associations. (Rules and Regulations)
Most states have guaranty associations that pay claims owed by insolvent insurance companies. Although the requirements for obtaining recovery from guaranty associations differ from state to state, there are many similarities. Recovery from Several...
Guard against Cyber Exposures: New E-Commerce Risk Insurance Offers Coverages beyond Your Standard Policies
You store confidential records in the seemingly secure electronic databases of your contracted service provider. The service provider is attacked by a hacker, who then posts confidential information about your customers on the Web. The customers mount...
Integrated Risk Financing Is Back ... and Returning More Benefits Than Ever
Reports of the death of integrated risk financing have been greatly exaggerated. In fact, integrated risk financing is alive and kicking in many risk management departments these days. According to a recent survey, 43 percent of America's largest companies...
Keeping Cargo Safe: New Rules Bring New Responsibilities
The job of protecting cargo has never been more critical or more complex. Cargo theft and hijacking, which reached crisis proportions in the 1990s, has suddenly taken a backseat to an even more grave concern: terrorism. Amid fears of terrorists potentially...
Letters
Dear RM It may come as a surprise that I agree with most of the views expressed by Randy Maniloff in his article, "The State of Mold: Media and Mold Exposure," (February 2003). Several points made therein, however, deserve more attention. Maniloff failed...
Notes
R.M. Hare, who passed away last year, was considered one his generation's most influential moral philosophers. As part of a long career, which included tenure at Oxford University, he examined the branch of ethics most discussed in business circles--applied...
Path from the Past, Vision of the Future
I grew up on Staten Island in New York, before the construction of the Verrazano Bridge, when the island was remote and rural, with no connection to New York except by boat. Staten Island is only 8 miles wide by 17 miles long and in those days, with...
Path from the Past, Vision of the Future: I Grew Up on Staten Island in New York, before the Construction of the Verrazano Bridge, When the Island Was Remote and Rural, with No Connection to New York except by Boat. Staten Island Is Only 8 Miles Wide by 17 Miles Long and in Those Days, with No Traffic, You Could Get Anywhere in Less Than Thirty Minutes. (Cover Story)
Our entire frame of reference was the island. We spoke of the best school on the island; the best team on the island; the best restaurant on the island. Our mindset was, in a word, insular. When I was recently asked to speak at a risk management...
Presidents' Letters
Welcome to Chicago and the 41st RIMS & Exhibition. This city of international industry and trade plays a perfect host to the "New World, New Risks, New Solutions" program that the conference features this year. Chicago offers the business connections...
Presidents' Letters
Welcome to Chicago and the 41 st RIMS Annual Conference & Exhibition, This city of international industry and trade plays a perfect host to the "New World, New Risks, New Solutions" program that the conference features this year. Chicago offers the...
Property Capacity Issues: Continuing to Evolve in Dramatic Fashion: The Issues Are Complex and Far-Reaching with a Unique Mix That Includes Terrorism, a Volatile Marketplace and a Continued Flight to Quality
The unique dynamics of today's evolving marketplace have put property capacity issues at the forefront of the insurance industry. There are many reasons for the capacity focal point--terrorism consideration, a shifting risk environment and a flight...
R.M
Notes departments Hare, who passed away last year, was considered one his generation's most influential moral philosophers. As part of a long career, which included tenure at Oxford University, he examfined the branch of ethics most discussed in business...
Slammer Worm Exploits Risk Management Lapses
Most firms simply do not have the IT resources to keep their systems up to date, so patching becomes a minor priority or is discarded altogether. On January 25, a worm-a virus-like computer program that replicates itself without using a host file-called...
Slammer Worm Exploits Risk Management Lapses. (Risk Reporter)
On January 25, a worm--a virus-like computer program that replicates itself without using a host file--called Slammer (or Sapphire) became the fastest computer attack of its kind in history. Doubling in size every 8.5 seconds, Slammer infected more...
Smallpox Research Causes Concern over Public Health Risks
In an effort to find a cure for smallpox before it can be used as a weapon of bioterrorism, the United States Army Medical Research Institute of Infectious Diseases, along with a group of universities and corporations, has begun a networked computer...
Smallpox Research Causes Concern over Public Health Risks. (Risk Reporter)
In an effort to find a cure for smallpox before it can be used as a weapon of bioterrorism, the United States Army Medical Research Institute of Infectious Diseases, along with a group of universities and corporations, has begun a networked computer...
Strategies to Protect Directors and Officers and Manage D&O Insurance Costs
D&O exposure continues upward: A recent study conducted by the Stamford Law School Securities Class Action Clearinghouse in cooperation with Cornerstone Research reports 327 federal securities class action lawsuits filed in 2001, 60 percent more...
Sweet Home Chicago Blues
For many people, Chicago blues is the blues. Even though the I music may have been born in the Mississippi Delta, Chicago is where the blues came to prominence. Here, the country style of the South was amplified with electric guitars, harmonicas and...
Terrorism Risk Insurance Act of 2002
What does this historic federal legislation mean,for property-casualty insurers, producers and risk managers? The world changed for all of us on 9/11/2001. For those of us in the property-casualty insurance industry--insurance carriers, agents,...
The Missing Link in Corporate Governance
Continued skepticism among shareholders due to the dot-com meltdown, accounting scandals and the largest corporate bankruptcies in history have made corporate governance an issue that will not go away. Formerly regarded as a series of arcane legal...
TRIA Implications
End Analysis departments What are the implications of the Terrorism Risk Insurance Act (TRIA)? That question was debated by RIMS executive director Jack Hampton at a January American Insurance Association panel along with AIG chief underwriter Richard...
TRIA Implications. (End Analysis)
What are the implications of the Terrorism Risk Insurance Act (TRIA)? That question was debated by RIMS executive director Jack Hampton at a January American Insurance Association panel along with AIG chief underwriter Richard Thomas and the president...
What Happened to Customer Service?
"Epidemic is a good word for this," says Richard Inserra. The assistant treasurer at Danbury, Connecticut-based Praxair, Inc. is fed up with insurance policies that arrive months late, filled with errors, lacking negotiated coverages and endorsements,...
What Happened to Customer Service? "Epidemic Is a Good Word for This," Says Richard Inserra. the Assistant Treasurer at Danbury, Connecticut-Based Praxair, Inc. Is Fed Up with Insurance Policies That Arrive Months Late, Filled with Errors, Lacking Negotiated Coverages and Endorsements, and Barely Recognizable as Sanskrit, Much Less English
"It's a fairly chronic problem to negotiate with brokers and underwriters to reach certain agreements relative to coverage extensions or policy modifications, and then three to six months later receive the policy, look at it and find no evidence of...
What's Next? from Mold to Terrorism, Construction Defects to Cell Phones, Many Potentially Serious Exposures Are Emerging on the Risk Management Radar Screen. Steve Knutson, Zurich North America's Director of Emerging Issues, Singles out Three That Have Not Yet Captured Nationwide Headlines-But Absolutely Should Not Be Overlooked
Silica Returning with a vengeance? After being widely litigated throughout the 1960s, silica liability is again rearing its costly head. Over the past year, the number of health-related lawsuits arising from silica exposure has risen dramatically....
Zurich North America Welcomes You to RIMS
The employees of Zurich North America and I welcome you tO the 41st RIMS Annual Conference & Exhibition and to Chicago. Zurich North America is one of the premier commercial property-casualty insurance providers serving the multinational, middle...