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. 39, No. 12, December

A Review of RIMS New International Strategies Course
THE INAUGURAL course, "International Risk and Insurance Strategies," which took place this past October in New York City, opened up to positive reviews. To reemphasize the main purpose for attending this course, one of the first questions posed to...
A Risk Manager's Guide to Insurer Insolvency
INSURERS ARE BEING DECLARED insolvent with an increasing frequency. Between 1969 and 1989 there were 150 property/casualty company insolvencies, with nearly half of them occurring since 1985. What's more startling is the cost of such insolvencies to...
Canada's Kaleidoscope
There is no better word [ban "kaleidoscope" to describe [he ever changing landscape of the risk management profession in Canada. From increasing professional liability and expanding government regulation to the varied methods of loss prevention and...
Changes in the Chinese Insurance Industry
While most Americans remember the political upheaval of Tiananmen Square, the economy in mainland China today is booming, according to John Williams, chief executive, Sedgwick Group in Beijing. "There are currently huge increases m international investment...
Combating Insurance Fraud with Forensic Science
TODAY'S CLAIMS PROFESSIONAL IS FACED with an incredible number of challenges. The world is highly dependent on science and technology, and the exponential growth of these disciplines makes life on this planet infinitely more complex. With every new...
Editor's Prerogative
WHILE I WAS IN SINGAPORE AT THE Third RIMS/RIMAS Risk Management Conference, one fact came clear about the risk management profession: namely that risk managers speak a common language around the world. East or West, the exposures and the regulations...
Executive Forum
WHILE THE ECONOMIC WOES OF THE world are causing many companies to reassess their commitment to risk management, and mergers continue to play havoc with risk managers' careers, there has been a resurgence of interest in risk management as a career...
Insurance Company Professional Liability
TO EXTEND THE INFLUENCE OF THEIR DISCIPLINE INTO THE CORPORATE HIERARCHY, TODAY'S RISK MANAGERS MUST BROADEN THEIR FOCUS BEYOND INSURANCE AND FINANCIAL ISSUES. FOR EXAMPLE, IN TODAY'S HIGHLY PRECARIOUS BUSINESS ENVIRONMENT, MANY OF AN ORGANIZATION'S...
Intelligencer: A Review of RIMS New International Strategies Course
The inaugural course, "International Risk and Insurance Strategies," which took place this past October in New York City, opened up to positive reviews. To reemphasize the main purpose for attending this course, one of the first questions posed to participants...
Job Hunting for the Risk Manager
MERGERS, ACQUISITIONS, divestitures, industry downturns and management downsizings these, and a multitude of other factors, create job insecurity. And considering the persistent recession that's plaguing the economy, and the number of middle management...
Maintaining Continuity during a Crisis
In the wake of the many recent disasters around the world, from floods to earthquakes to power outages, executive management no longer needs to be sold on the need for contingency planning. According to William Kelly, senior vice president of J.P....
No One Immune to Environmental Risks
If one topic stood out from all others at OK '92, it was the environment. Today, risk managers must deal with a whole host of risks arising from their organizations' impact on the environment. Such risks include major industrial accidents, directors'...
Retrenching in the European Market
IN THE GROWTH-ORIENTED era of the mid- to late 1980s, European insurers were locked in a predatory mode. If you did not swallow up your competitors, insurers thought, they would probably make a meal out of you. This way of thinking was inspired partly...
RIMS Spars with NAIC over Federal Regulation
FOR ONE WEEK in October, holding a debate in Virginia proved to be quite popular. In Williamsburg, Arkansas Governor Bill Clinton was preparing for a presidential debate to be held just days later in nearby Richmond. But also in Williamsburg, a smaller,...
Risk Communication, Mitigation and Uncertainty
Having the ability to communicate concise information about potential risk in terms that the public can grasp is an important aspect of any business strategy. And this becomes all the more true I where potential risks are considered life threatening....
Singapore Conference: The Global Fit
The countries of East Asia represent the fastest growing economies in the world today. Hong Kong, Singapore, Taiwan and South Korea are now referred to as the four tigers of East Asia because of their ever-expanding push in the global trade arena....
Specialty Markets for Risk Management
OF THE APPROXIMATELY 3,600 PROPERTY/CASUALTY INSURANCE COMPANIES CURRENTLY OPERATING IN THE UNITED STATES, MOST ARE MULTI-LINE UNDERWRITERS, DEALING IN INSURANCE PRODUCTS FOR A WIDE VARIETY OF RISKS. A FEW, KNOWN AS SPECIALTY OR NICHE MARKETERS, CHOOSE...
The Driving Concern of Fleet Safety
ALTHOUGH LOSS control constitutes one of the primary functions of risk management, many risk managers may not be playing as active a role as they should in protecting their companies' fleets from loss, declares Penny Levin, President of PAL Inc. "Fleet...
The Emergence of 24-Hour Coverage
In an effort to ameliorate the crises in the workers' compensation and health care systems, a number of companies are investigating the use of 24-hour coverage programs. "Essentially, 24-hour coverage is an emerging idea for providing broad-based...
The Future of Risk Management
As the discipline of risk management develops and matures, risk managers must broaden their knowledge and capabilities in order to meet the challenges that lie ahead, declared Suzanne Crager, RIMS president, at RIMS 26th North Central Regional Conference...
The Pulse of Hong Kong
As Hong Kong prepares to cross over from British to Chinese rule, risk managers must act reasonably in managing the risks that come as a result of the transition set for 1997. "For the underwriter and risk manager in Hong Kong perhaps the run up to...
The Risk of Oil Spills
Risk managers may be surprised to learn that when the Exxon Valdez spilled 258,000 barrels of oil into Alaska's Prince William Sound, it was only 20 percent of the cargo that was discharged from the supertanker. Tragic incidents like these that wreak...