Risk managers, whose job it is to prepare for nightmare scenarios and the unexpected, face a host of emerging threats this year–from monster hurricanes to terrorist attacks–to go along with their daily challenge to control more mundane losses and secure affordable insurance coverage in good markets and bad, industry experts warn.
"Risk management needs to be nimble enough to handle whatever comes at it," said Janice Ochenkowski, director of global risk management for Jones Lang LaSalle in Chicago, a commercial real estate company.
Indeed, a well-run risk management department has "policies and procedures in place that can be adapted to a particular situation," noted Ms. Ochenkowski, who is also treasurer of the New York-based Risk and Insurance Management Society.
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