Newsletter Sign-up

Maurice "Hank" Greenberg combined business intelligence, adaptability and strong leadership to build AIG's savvy risk management culture.

In the wake of corporate scandals, and financial crises Part I and now Part II, it is no surprise that we are seeing corporations increase their focus on risks that threaten their long-term health and wealth. It is also no surprise that we are seeing re-examinations of what really constitutes a board's fiduciary obligation. We have been reassessing what should be a board's overall responsibility and how a board should be structured to best achieve its objectives.

Mary Harrington, Subaru of America's director of risk management, found her calling early and never veered.

XL Insurance made the transformation to a single web-based platform for managing claims after going through mergers and acquisitions, which left the company with as many as five major legacy claims systems.

In the United States, companies rely on networks of providers who treat work-related injuries under contracts that control the cost of medical claims, but abroad you simply pay the bill.

Subaru of America Inc. skillfully uses its captive to cover property/casualty risks, and benefits risks as well, while turning a tidy profit with a little help from the sale of warranties.

When a rogue trader loses billions, risk management is called into question.

The warning alarms sounded loudly in Washington. We watched the exhausting political posturing for two torturous weeks. In the end, we saw the U.S. debt limit raised. We did not default on our obligations. We still paid our bills. Soon after, we saw rating agencies showing new muscle and teeth with the first ever AAA downgrade in the U.S. suggesting a slightly higher risk of debt repayment. We saw market behavior that took us on a nauseating rollercoaster ride. And now we sit confused and frustrated as to what this all really means.

In the international arena, risk managers must learn to adapt, as they deal remotely with claims adjusting and other customer services issues they are used to handling more closely stateside.

More rules and less money raise the risk for schools.

Are skyrocketing tuition rates a risk? Not judging by the academic construction market, which was soft at the end of 2010, but now gathers new momentum.

You don't hear a lot about innovation in risk management education or training because there doesn't seem to be all that much different being offered, or so some think. Before I address that fallacy, let's consider the importance of this issue.

Is there such a thing as a stupid policy? We have all been there, listening to customer service representatives citing frustrating corporate policies that do not address our consumer concerns or, ironically, do not solve any of their concerns either.

Following a 12-hour flight to South Africa, the business traveler unlocked the door of the rented corporate apartment, headed to the bathroom and started filling the tub.

The tenth anniversary of Ground Zero serves as a stark reminder to the fine art world of risk management lessons learned by that terrible tragedy in New York City.

Tohoku quake, risk model change will weigh heavily in Monte Carlo discussions, but will they cause prices to spike?

Law enforcement liability coverage for riots in America not without holes; exclusions key if London events happen here.

I remember when I first started to hear the term tweet. It was early 2008 during the presidential race. I asked myself what in heaven's name is this Twitter everyone is talking about?

The U.S. Senate again eyes a national commission on natural catastrophes.