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. 7, September

10 Tips for Winning Mass Tort Litigation
Companies can quickly become overwhelmed by mass tort litigation and plaintiffs' attorneys demands. The following tips will help you navigate the perilous waters. 1. Retain Coordinating Depending on the scope of your mass tort litigation, you...
Are You Using Good Risk Models?
The current recession has forced a re-evaluation of modeling in the financial services arena. Leaders in the modeling profession have jointly issued, and are actively promoting, a manifesto for responsible modeling. This is good news for banks. Unfortunately,...
Battle Tested: Improving the Risk Assessment Process of the Joint Chiefs of Staff
Every year, the Chairman of the Joint Chiefs of Staff completes a risk assessment of the nation's military strategy, called the Chairman's risk assessment (CRA), and sends it to the Secretary of Defense, who then submits it to Congress and the President....
Case Dismissed
[ILLUSTRATION OMITTED] In May, the U.S. Supreme Court ruled that a man who had been arrested on identity fraud charges two months after the 9111 attacks could not sue two U.S. officials for the discrimination and abuse he claimed to have had suffered...
Contingency Fees, Round Two
Five years ago, New York Attorney General Eliot Spitzer led a pointed assault on insurance brokers for accepting contingency fees, which are payments they receive from insurance carriers to whom the brokers had directed commercial insurance business....
Environmental Risk Trends
With a new administration in Washington, environmental regulatory enforcement is expected to increase. While the insurance industry has responded with new specialty insurance products aimed at environmental risks, the utility of these products and...
Higher Learning: Teaching Risk Management and Insurance: In Our Second Annual Education Review, We Profile Some of the Largest Schools for Undergraduate Risk Management and Insurance Education
It is no surprise that a decade marred by financial crisis, natural disasters and terrorism has greatly raised the profile of risk management. Most organizations are now coming to recognize the importance of the discipline and, perhaps more importantly...
Hurricane Tamers: Bill Gates' Foray into Hurricane Modification Has Renewed Interest in a Largely Defunct Area of Research. for Disaster Prevention, This Is a Good Thing
In collaboration with several inventors, Microsoft founder Bill Gates has attempted to patent a new technology that, in theory, may be able to suppress--or even prevent--hurricanes. The general premise of Gates' proposals to the patent office, which...
International Profile: South Korea: South Korea Has Been Hard Hit by the Global Financial Crisis and While the Recessionary Cloud Is Unlikely to Abate Soon, There Are Many Factors That Make the Country's Allure as Strong as Ever
[ILLUSTRATION OMITTED] Despite Korea's adoption of expansionary monetary and fiscal policy, economic growth slowed in 2008 and, like much of the world, continued to slow in the first quarter of 2009 (down 4.4% year on year). And there is no immediate...
Litigation Time Bombs: Three Mass Tort Trends to Watch
Enterprising plaintiff lawyers are always looking for the next asbestos case--and who can blame them? A large mass tort case can bankrupt corporate defendants and make millions for plaintiffs' attorneys. Recent examples include not only asbestos, but...
Obligation vs. Opportunity
An effective security program begins with sound policy. In many organizations, however, compliance against security policies remains relatively unknown, poorly communicated or misunderstood. The confusion impedes policy implementation and remediation...
Piracy's Impact on Insurance
There has been a devastating surge of piracy in the wake of Somalia's civil war. As a result, the Gulf of Aden--or "pirate alley"--has turned into the world's most dangerous waterway. In 2008, there were 111 pirate attacks in the Gulf of Aden and off...
The Bigger Picture: Recognizing Risk Management's Social Responsibility: Traditional Risk Management Has Always Focused on the Narrow Concerns of Individual Organizations. but as the Financial Crisis Has Demonstrated, Some Risks Extend Far beyond Any One Company's Walls. Now Is the Time to Consider a Wider Risk Management Strategy-That of Societal Risk Management
[ILLUSTRATION OMITTED] If not an outright failure of risk management, the recent financial crisis and related economic downturn have at least emphasized the need for a re-evaluation of the discipline. While the risk management community often suggests...
The Canadian Difference
Canada and the United States have such close business ties that it is not uncommon for U.S. multinationals to think the two countries are essentially the same when it comes to the insurance market's requirements But in some respects, the Canadian...
The Employer Take on Health Care
Some have compared President Barack Obama's proposed health care reform to socialism, while others have shown strong support for a complete health care overhaul, which would include a public plan that would compete with private insurers. To learn...
With Great Power
In 1954, social psychologists Muzafer and Carolyn Sherif carried out the Robbers Cave experiment, in which 22 boys were taken on a three-week camping expedition in Oklahoma's Robbers Cave State Park. The boys were split into two teams of 11--the Eagles...