Magazine article Risk Management

Editor's Prerogative

Magazine article Risk Management

Editor's Prerogative

Article excerpt

IN RECENT YEARS THE TERM DISASTER HAS triggered thoughts of earthquakes, hurricanes, tornadoes and snowstorms. As many risk managers know, the values can be steep, the costs great and the recovery slow. But after the events of this summer, disaster took on a very immediate meaning. The highly publicized acts of aggression quickly reminded us of the enormous potential of risk and the devastating reality of loss.

In late July, following the TWA plane crash and Olympics pipe bombing, a column in The New York Times titled "Bomb Scares Increase in New York and Around the Nation, as a New Edginess Is Found" recounted dozens of threats and subsequent evacuations from trains, subways, airports and bus terminals. Such landmarks as the United Nations, Rockefeller Center and New York's Port Authority Bus Terminal were also targeted. The article detailed threats received across the country from Spokane, Washington, and San Jose, California, to Chicago, Illinois, and Pittsburgh, Pennsylvania.

Last October, Risk Management surveyed its readers about the disaster recovery plans their companies had in place. Although our numbers weren't statistically significant, the results indicated that employers were placing new emphasis on disaster management planning in the wake of natural catastrophes, workplace violence and terrorist incidents. …

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