Recently added articles from Risk Management:
Correction.(Correction notice)
Jun 01, 2009 ... In the May issue, the attribution on page 39 was incorrectly assigned. Mae Ai Lian, James McCarthy, Barry McEwan, Jennifer Chen Palumbo and ...
Threat level: ridiculous.(First Word)(Editorial)
Jun 01, 2009; ... One of the distinguishing characteristics about my hometown of Easton, Pennsylvania is that it is smack in the middle of an extensive network of man-made waterways that were built in the early 1800s to transport goods and materials (especially coal) all over the northeastern United States ....
The threat from within: data security, information theft and tech fraud can hardly even be considered new kinds of crime anymore. But in a troubled economy, the biggest threat may be the one inside your own organization.(Forefront)
Jun 01, 2009; ... Massive layoffs have been making headlines for months. In fact, the steep annual drop in jobs last year marked the highest annual job-loss total since 1945, with a record rate of hemorrhaging at the end of 2008 bringing the year's total job losses to 2.6 million. And with the national ...
The ten merger commandments.(Forefront)
Jun 01, 2009; ... Most mergers fail. And the largest contributor to this failure comes from cultures that clash. But the best do it successfully. Here are the rules they follow to beat the odds: 1. Don't Act Like a Conqueror The acquired company has tangible and intangible assets that ...
AIR brings cat expertise to the masses.(Forefront)
Jun 01, 2009; ... One refrain that is almost universal among risk managers is the fact that insurers rarely understand--or at least rarely acknowledge via premium rates-their organizations' unique risks. But in many cases, these same risk managers themselves fail to fully understand the nuts and bolts of ...
Seven signs the market is hardening.(Forefront)(Brief article)
Jun 01, 2009; ... There is much debate over whether or not the insurance market is hardening. Some believe it has yet to see the rising prices and decreased capacity indicative of a hardening market. They note that some carriers are trying to gain market share by lowering price. So, is a hard market coming? ...
Disciplined innovation: Swiss Re CRO Raj Singh shares his thoughts on how reinsurance/insurance is balancing the challenges and opportunities that the economic crisis presents for both discipline and innovation--and for the role of chief risk officer.(Forefront)(Interview)
Jun 01, 2009; ... How do you see the state of reinsurance/insurance compared to the rest of the financial services sector? Generally, the insurance industry has shown more resilience, but it has been impacted on the asset side of its balance sheet. If you look at the capital of these companies, ...
International profile: Argentina: since regaining its footing after a high-profile economic crisis in 2001, Argentina's business climate has become both promising and somewhat unstable. And today's precarious global economy only adds to the near-term uncertainty.(Forefront)
Jun 01, 2009 ... For Argentina, the worsening global crisis combined with the lenient domestic economic policy pursued since the start of President Cristina Fernandez de Kirchner's term is expected to lead the economy toward a hard landing. On top of this, the president's handling of the farm dispute in ...
Crisis and congress.(Investigative Reports)
Jun 01, 2009; ... Not surprisingly, fear of further economic slowdown ranked as the number one concern for the 500-plus global organizations that responded to Aon's recent "2009 Global Risk Management Survey." Stephen Cross, CEO of Aon Global Risk Consulting and one of the presenters who unveiled the ...
California's cash cow.(Investigative Reports)(insurance industry)(Report)(Brief article)
Jun 01, 2009; ... The insurance industry is not only beneficial to the U.S. economy as a whole, it is critical to state economies, especially in California, where insurance contributed $28.2 billion to the state in 2006, or 1.6% of the entire gross state product. According to the U.S. Bureau of Labor ...
Tough times for internal audit.(Investigative Reports)(Report)(Brief article)
Jun 01, 2009; ... The role of internal auditing is facing continuing challenges in today's economic climate, according to PricewaterhouseCoopers' "State of the Internal Audit Profession Study," which states that the profession must brace for an efficiency revolution as it works to find ways to produce more ...
Still struggling with silos.(Investigative Reports)(Survey)(Brief article)
Jun 01, 2009; ... While the vast majority (80%) of large corporations surveyed in many parts of the world have a formal enterprise risk management program, more than half (54%) have yet to adopt any standard for implementing this process. A study by Marsh's risk consulting practice and corporate governance ...
Management Rewired.
Jun 01, 2009; ... MANAGEMENT REWIRED BY CHARLES S. JACOBS [ILLUSTRATION OMITTED] Most commonly accepted business practices are the product of theories, anecdotal evidence and the status quo. Management generally operates a certain way because that is the way they have ...
But Wait ... There's More!
Jun 01, 2009; ... BUT WAIT ... THERE'S MORE! BY REMY STERN [ILLUSTRATION OMITTED] A few years ago, while rushing to catch my evening train home out of Manhattan, I had a chance encounter with Matthew Lesko, the hyperactive pitchman who made numerous infomercials promising ...
The Carrot Principle.(emplouee incentives)(Brief article)
Jun 01, 2009; ... THE CARROT PRINCIPLE BY ADRIAN GOSTICK & CHESTER ELTON [ILLUSTRATION OMITTED] Hail to Adrian Gostick and Chester Elton for finally putting into print what many lower-level employees have believed for years: praise and recognition results in happier ...
Water, water everywhere ... but not enough for business.(Water Scarcity)(Cover story)
Jun 01, 2009; ... [ILLUSTRATION OMITTED] Water is vital for the production of" almost everything we use. One car tire, for example, requires 518 gallons of water to manufacture. One ton of steel calls for 62,600 gallons. One egg requires 120 gallons. One 200-millimeter semiconductor wafer that ...
Is now the time for the optional federal charter?
Jun 01, 2009; ... The debate about optional federal oversight of insurance regulation has raged for years with no resolution. Recent activity, however, has some thinking that the legislation may finally be coming to fruition. But is it the right idea? The arguments are simple. Proponents believe ...
Taming mother nature: how weather risk management has helped offset the elements.
Jun 01, 2009; ... [ILLUSTRATION OMITTED] FOR DECADES, companies accepted weather as an inevitable element of nature, and simply absorbed the financial burden of volatile climate patterns. Then, in 1997, utility companies whose profits are inexorably linked to weather began purchasing weather ...
Eliminating uncertainty: the benefits of energy hedging.
Jun 01, 2009; ... Energy prices have fallen more than 60% from last summer's highs to levels approaching a five-year low. For energy consumers, this means the time to manage energy costs is now. The stress that operating budgets suffered just one year ago should be a strong reminder that, if ignored, the ...
After it hits the fan: five big mistakes companies make in a crisis.
Jun 01, 2009; ... It was nine o'clock on Christmas Eve and I was waiting for the kids to drift off to sleep so Santa could visit, when my phone rang. It was a reporter. "Is it true they're going to evacuate Bridgeport?" he asked. The North Texas city was the location of my company's largest ...