Recently, an insurance publication bestowed the honor of Risk Manager of the Year on Deborah Griffith, risk manager of the Boy Scouts of America (BSA) near Dallas, Texas. We have all heard the Boy Scout motto, "Be prepared." This is good advice, summing up the ethos of risk management as well.
A profile of Ms. Griffith and BSA's operation illustrates how her department embraces risk management excellence. One area of strength is claims. Six BSA best practices deserve consideration for those looking to improve their own claim and risk management operations.
1. View the big picture for claim defense. In isolation, settling individual claims might make sense. From a precedent or business standpoint, however, settlement might be folly, especially if paying nuisance-value cases could spur additional non-meritorious claims. Settling dubious claims can brand an organization as an easy mark in the litigation arena, giving incentive to other attorneys and plaintiffs to feed from the proverbial trough.
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