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. 53, No. 2, February

Audit Committees Drive Section 404 Sustainable Compliance Oversight
Well into the second year of Sarbanes-Oxley section 404 compliance, many organizations continue to face the formidable challenges and critical imperatives of converting their compliance approach from an "annual project" perspective to viewing it as a...
Audit Committees Drive Section 404: Sustainable Compliance Oversight
Well into the second year of Sarbanes-Oxley Section 404 compliance, many organizations continue to face the formidable challenges and critical imperatives of converting their compliance approach from an "annual project" perspective to viewing it as...
Class Action Reform: Will Perception Become Reality
After several failed attempts, the 109th Congress enacted class action reform legislation on February 17, 2005, which President George W. Bush signed into law the very next day. At the White House signing ceremony, President Bush stated "[t]he Class...
Datebook
departmentsWorkers Compensation ManagementFebruary 9-10; Charleston, SCThis RIMS professional development workshop will focus on managing workers compensation exposures and claims administration principles. A thorough update of today's techniques for...
Employer's Liability Explained
While no two states' workers compensation laws are identical, the objective is the same: to provide "no fault" benefits to employees injured on the job. However, the common law system of compensating injured workers was not completely eliminated when...
Group Accuses Nuclear Plant of Security Lapses
At least four security guards at the Shearon Harris nuclear plant in North Carolina were dismissed from their jobs for informing the plant's owner about security problems at the facility, according to a complaint filed by the N.C. Waste Awareness &...
Musings of a Freshman Associate
In the Fall of 2004, my position as a consulting actuary for a large insurance broker was eliminated and I elected to embark on a new career as an independent actuary. I immediately joined RIMS as an Associate Member as I intended to market my services...
New Surveys Show That Big Business Has a P.R. Problem
Research shows that Americans are growing increasingly distrustful of large corporations and their executives. The negative feelings stem from high-profile corporate scandals and, more recently, increasing energy costs accompanied by high profits for...
Product Liability Goes Global
Product liability concepts, which were developed in the United States in the early 1960s, leapt across the ocean in 1985 when the European Union adopted the legal concept of strict liability. Despite this development in Europe, in the last 20 years,...
Rising to Excellence
Niver Rubenyan, CRM, RF, has come a long way to become the director of operational risk with Sun Life Financial. After relocating from Armenia to Ontario at age seven with her parents, Rubenyan quickly began to navigate her own course. Despite her...
Steps to Getting Key Person Claims Paid
Key person coverage is a kind of life insurance on critical employees where the proceeds are paid to the corporation. Its purpose is to indemnify the employer against a potential loss of income that, may result from the untimely death of a key employee....
The Liability of the Insurance Broker for Breach of Duty to Advise
Consider the following scenario: your business just suffered major property damage. You review your insurance program only to discover that you are not covered for the full extent of your loss. Either a lack of the necessary type of insurance, or a...
The Real Value of ERM
Risk has a funny way of winding itself down to the corporate bottom line, sometimes subtly, sometimes not. It makes sense for management to want to get its arms around the aspects of risk, including its potential impact on earnings and its affects...
They Got Donnie
As I write this, a friend of mine, Donnie, is serving with the United States Marine Corps in Iraq. One of his first jobs in country was to provide security for the Iraqi constitutional referendum in Fallujah, a city that only a year before had been...
Where Did My Coverage Go?
Your company is about to close on an acquisition that will cement its position in the marketplace. You have done your due diligence and believe you are aware of all of the other company's potential liabilities that are included in the deal. The figurative...