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Maurice "Hank" Greenberg, former CEO of AIG, says that for risk managers who just remain insurance buyers, the future is bleak. But for those who grow into real professionals, the opportunities are boundless.

For liability coverage to third parties, shipping manager Arthur R.T. McWhinnie turns to the P&I clubs, the remote descendants of the small hull insurance clubs created by British shipowners in the 18th century.

Brownfields could play a role in the revitalization of New Orleans, and not for the reasons you think.

The mergers-and-acquisitions market is at historic heights of activity, but that also means more is on the line if an M&A fails. Enterprise risk management can come to the rescue during the due-diligence process to protect success.

Climate change is no longer a what-if question for insurers.

Plan, recruit, communicate and use positive reinforcement to ensure your crisis management plan works.

The "checklist" approach to validating a risk management program is not enough. Managers need instead to turn to enterprise risk management techniques to improve their risk management programs.

Proponents of so-called "smart client" applications claim they're more efficient because they bring the objectives of claims and risk management closer.

For insurers, one lesson of recent catastrophes is to respect the return periods. But should low-probability, high-severity disasters that might never happen really concern risk management? The true lesson could be to lay off the probabilities altogether.

On tap: Risk managers from Cisco Systems, Becton Dickinson and Coca-Cola reveal how to manage risk in a value-added way.

When it comes to an effective risk assessment, capturing current, consistent, quality data is key.

Step back and assess the problem to ensure the proper people, following the proper procedures, can deliver consistency and completeness.