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. 56, No. 8, October

Black Gold, Black Market
Then and smuggling in Mexico is nothing new. But criminals are increasingly targeting the petroleum industry to fund other illicit behaviors.In early August, a joint U. S. -Mexican investigation into the widespread oil theft and trafficking industry...
Black Gold, Black Market: Theft and Smuggling in Mexico Is Nothing New. but Criminals Are Increasingly Targeting the Petroleum Industry to Fund Other Illicit Behaviors
In early August, a joint U.S.-Mexican investigation into the widespread oil theft and trafficking industry in Mexico uncovered the illegal sale and smuggling of more than $2 million in petroleum from Mexico's state-owned oil monopoly Pemex to companies...
Cap & Trade
Rod Taylor, managing director of Aon Environmental Services, talks about the cap and trade bill currently in Congress and how a new regime will affect companies nationwide.What does cap and trade mean?The concept of cap and trade is an effort to reduce...
Cap & Trade: Rod Taylor, Managing Director of Aon Environmental Services, Talks about the Cap and Trade Bill Currently in Congress and How a New Regime Will Affect Companies Nationwide
What does cap and trade mean? The concept of cap and trade is an effort to reduce overall emissions of greenhouse gases, and it's done by providing an allocation of emission permission, or permits, to people who are already carbon emitters and then...
Correcting Climate Change
Can society reverse the effects of climate change through geoengineering? Researchers at the Royal Society, the UK's national academy of science, seem to think so, according to the recent report, Geoengineering the Climate: Science, Governance and...
Correcting Climate Change
Can society reverse the effects of climate change through geoengineering? Researchers at the Royal Society, the UK's national academy of science, seem to think so, according to the recent report. Geoengineering the Climate: Science. Governance and Uncertainty."It...
Datebook
October 2009AFP Annual ConferenceOctober 4-7, San FranciscoThe Association for Financial Professionals presents this threeday conference geared towards those in the industry of finance and treasury. Scheduled workshops include cash flow forecasting techniques,...
Dead Lines
As I type these words, this column is well past its own deadline, and every hour it remains out of production makes it harder for my team to finish producing the issue. Thus, I have buckled down to write this editorial, even if it kills me. That's...
Eyes Wide Open
How Examining Macro Trends Can Identify Emerging RisksToday's dynamic environment has forced companies to rethink the way they conduct business and deal with change. The financial crisis and global recession is separating the weak from the strong and...
Eyes Wide Open: How Examining Macro Trends Can Identify Emerging Risks
[ILLUSTRATION OMITTED] Today's dynamic environment has forced companies to rethink the way they conduct business and deal with change. The financial crisis and global recession is separating the weak from the strong and prompting companies to take...
Getting the Most out of Payroll Coverage
Ordinary payroll coverage is a common endorsement in many property and business interruption insurance policies. It provides coverage if a policyholder wishes to retain key hourly employees who are completely idled after an incident and unnecessary...
How Healthy Is Your Insurer?
Recent failures of financial services companies are prompting risk managers and the C-suite to exercise more due diligence when evaluating the health of insurers and verifying their counterparty risk. In order to do this correctly, risk managers should...
Imaginary Touchdowns
Tom Brady's season-ending injury last year ruined many fantasy teams. Now you can insure fake teams.Last year, New England Patriots quarterback Tom Brady suffered a seasonending knee injury in the first quarter of the opening game of the NFL regular...
Imaginary Touchdowns: Tom Brady's Season-Ending Injury Last Year Ruined Many Fantasy Teams. Now You Can Insure Fake Teams
Last year, New England Patriots quarterback Tom Brady suffered a season-ending knee injury in the first quarter of the opening game of the NFL regular season, effectively ending the Patriots' chance to compete for a championship. But teammates and...
Iran, Oil & Insurance
A proposed congressional bill that would levy further sanctions on Iran may have wide-ranging implications for global insurers and reinsurers.The recent tough talk in Washington about Iran could lead to additional sanctions in the near future - and Congress...
Iran, Oil & Insurance: A Proposed Congressional Bill That Would Levy Further Sanctions on Iran May Have Wide-Ranging Implications for Global Insurers and Reinsurers
The recent tough talk in Washington about Iran could lead to additional sanctions in the near future--and Congress has now trained its sights on the insurance industry. Several bipartisan and widely supported bills currently pending in Congress...
Mind the Gap
Builders risk, general liability and workers compensation coverage are indispensable when managing the risks of a construction project. One set of exposures that sometimes goes unrecognized, however, is the risk of moving materials and equipment from...
Over the Top
Liability can come from unexpected directions and in unanticipated amounts. No one knows this better than a Philadelphia bank and the two companies that provided its security guards, all of which became entangled in a unique case in 2008. The plaintiff...
Reinsurance
Understanding the Insurance Behind InsuranceEven sophisticated purchasers of commercial general liability and property coverage are often only vaguely aware of the reinsurance market standing behind the companies that provide their direct (or primary)...
Risk Essentials: Critical Risks Demand Critical Attention. These Are the Concepts That Risk Managers Need to Know. These Are the Risk Essentials: Reinsurance: Understanding the Insurance Behind Insurance
[ILLUSTRATION OMITTED] Even sophisticated purchasers of commercial general liability and property coverage are often only vaguely aware of the reinsurance market standing behind the companies that provide their direct (or primary) insurance. In...
Searching for Jessica Biel
Jessica Biel is an internet menace. In recent years, cybercriminals have adopted the technique of using celebrities' names and images to lure surfers searching for the latest stories, screen savers and ringtones to sites offering free downloads laden...
Technical Support: Improving Performance and Reducing Costs with IT Risk Management
With rapidly changing information technology (IT) landscapes driven by merger and acquisition activities, business model changes, and cost reduction programs, more than a few chief information officers and risk managers are concerned with how to comply...
The Benefits of GRC Software
Due to heightened demand for, and increased complexity of, governance, risk and compliance (GRC) frameworks, a growing number of vendors are offering GRC software solutions. These tools are designed to help firms manage, measure and report on their...
The New WILD WEST
The lawless world of social media, online communities and user-generated content presents an untapped, but treacherous, frontier of opportunity.IN the 1800 the fron tier west of the Mississippi was pristine land of opportunity for ambitious traders,...
The New Wild West: The Lawless World of Social Media, Online Communities and User-Generated Content Presents an Untapped, but Treacherous, Frontier of Opportunity
IN the 1800s the frontier west of the Mississippi was a pristine land of opportunity for ambitious traders, entrepreneurs, farmers and ranchers. The past 15 years have offered a similar hope for any company savvy enough to leverage online opportunities...
The Value of Managing Diagnostic Claims
As the debate over health care reform continues, the challenge of managing diagnostic claims costs and quality have increasingly come to light. Risk managers must be aware of today's key diagnostic challenges and effective strategies to address them....
Time for a Business Divorce?
When times are tough, even healthy business relationships can become strained. Challenging times force business owners to assess their own, and their partner's, contributions and commitment to the business and generally reexamine their priorities....
Unsafe at Any Speed
Text messaging while driving has been banned by 17 states. What are the rest waiting for?Any distraction while driving is a danger to everyone on the road. For many drivers, trie biggest distraction is talking or texting on a cell phone. In the past...
Unsafe at Any Speed: Text Messaging While Driving Has Been Banned by 17 States. What Are the Rest Waiting For?
Any distraction while driving is a danger to everyone on the road. For many drivers, the biggest distraction is talking or texting on a cell phone. In the past three years, the number of monthly text messages sent has increased from 9.8 billion in...
Web of Deceit
THE GLOBAL IMPACT OF COUNTERFEIT PRODUCTSWho wouldn't want to pick up a luxury item at a fraction of the designer price? Especially in the current economic climate, it is not surprising to find that many consumers consider buying illegal goods as harmless...
Web of Deceit: The Global Impact of Counterfeit Products
Who wouldn't want to pick up a luxury item at a fraction of the designer price? Especially in the current economic climate, it is not surprising to find that many consumers consider buying illegal goods as harmless discount shopping. But this innocuous,...