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. 6, July-August

Burning the Midnight Oil
According to a recent survey, more than a quarter of employees in the United Kingdom are so work obsessed that they cannot resist using a mobile device, such as a laptop, in bed before they go to sleep. Of those people who do work in bed, 57% do so...
Clever: Leading Your Smartest, Most Creative People
CLEVER: LEADING YOUR SMARTEST, MOST CREATIVE PEOPLE BY ROB GOFFEE & GARETH JONES [ILLUSTRATION OMITTED] In any organization, no matter how large or small, there are always those "clever" individuals whose unusual intelligence, enthusiasm,...
Controlling Public Perception
It is fair to say there are companies that still enjoy the public's confidence. Among insurers, GEICO may be a case in point because of a popular advertising campaign and, to be sure, because Warren Buffet happens to own it. But what do you do if your...
How to Choose a Domicile
Choosing a domicile for a captive insurance company is a process of elimination. Often, the choice comes down to prior relationships with service providers or a captive owner's subjective impression about a jurisdiction. The choice narrows quickly,...
Local Rx: Developing Return-to-Work Programs in Unionized Companies: Collective Bargaining Obligations, Labor Contract Requirements and Uncooperative Unions Can Be Hindrances for a Unionized Company That Is Trying to Develop a Return-to-Work Program to Manage Workers Compensation Costs
Unions often oppose a return-to-work program until they can be convinced that it offers them something. Sometimes, employers facing this situation drop the idea completely, believing the obstacles are too great. The employer who gives up too easily,...
Looking: At Risk Strategically
Over the years, there have been a number of major debacles, such as the current credit crisis, that might have been prevented or, at least, reduced in scope by looking at risks more strategically. This can be accomplished by conducting a dynamic risk...
Smell No Evil
The makers of the popular Zicam line of homeopathic cold remedies were forced to pull their nasal sprays and gel swabs from store shelves in June after the Food and Drug Administration (FDA) warned that using the products could result in the permanent...
Smooth Sailing: One Expert Sees Clear Waters Ahead for the Soft Market
At this time last year the property/ casualty industry was in the midst of a soft market that by all appearances would continue well into the future. The industry had just experienced two of its best underwriting years on record and industry surplus...
The Cape Cod Curse
Every summer, and sometimes in the spring and fall, my family vacations on Cape Cod, our favorite place in the world. For the last decade or so, however, every time we visit the Cape, some major catastrophe happens during our stay. September 11, Hurricane...
The Choice Is Yours: 5th Annual Risk Management Captive Domicile Review
[ILLUSTRATION OMITTED] These are interesting times for the insurance industry. A global recession, an unpredictable market and the possibility of increased regulation have created an unprecedented climate of uncertainty. In many organizations, it...
The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty
THE FLAW OF AVERAGES: WHY WE UNDERESTIMATE RISK IN THE FACE OF UNCERTAINTY BY SAM L. SAVAGE [ILLUSTRATION OMITTED] "Consider a drunk staggering down the middle of a busy highway and assume that his average position is the centerline. Then...
The Seeds of Risk for Profit: Fred Pachon, Vice President of Risk Management and Insurance for the Select Family of Staffing Companies, Talks about His Entrepreneurial Approach to ERM and How Risk Management Can Be a Profit Center
You have won a lot of awards in the last year for your work at Select, where your programs saved the company some $200 million in costs. What are the keys to succeeding in risk management? Number one is safety and loss control. If you prevent the...
The Year of the Outbreak: Swine Flu Might Not Be as Deadly as Some Feared, but There Are Many Other, Less Publicized Outbreaks Killing Millions across the World Each Year That Health Officials and Risk Professionals Must Confront
Following a sharp rise of H1N1 "swine flu" cases in Australia in June, the World Health Organization (WHO) officially declared that the ongoing epidemic had reached pandemic status. This marked the first officially declared pandemic by the WHO in 41...
Turning Chaos into Clarity
"How well do I know my customers and suppliers?" That is a question more company leaders are asking themselves these days, as they grapple with how to better manage risk. A few years ago, companies worried less about customers paying invoices or suppliers...
Using Group Captives for Health Insurance
While the P/C market continues to create innovative single parent and group captive programs, the use of captives to insure accident and health risks has been limited. There have been less than 20 single parent health insurance programs established...
Watchmen
On June 18, U.S. Treasury Secretary Timothy Geithner described the fundamental problem that allowed unchecked financial firms to run the economy aground. "Our financial system failed to perform as it should have--by distributing and reducing risk....