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Risk Managers Feeling The Squeeze As Economy Puts Pressure On Budgets

With the top concern for risk managers being the impact of the economic slowdown on their organizations, corporate buyers should expect very tight scrutiny of any dollars budgeted for insurance, loss control and support services, one consultant warned.

By Caroline McDonald | Updated on July 05, 2009

Southampton, Bermuda

With the top concern for risk managers being the impact of the economic slowdown on their organizations, corporate buyers should expect very tight scrutiny of any dollars budgeted for insurance, loss control and support services, one consultant warned.

“They must look at whether a solution is driven by compliance, or if it will bring additional revenue or return on investment, whether it’s from safety, or loss prevention services to risk management,” said Christopher Iovino, managing director for risk consulting, risk control and claims with Aon Global in New York, addressing a seminar at the Bermuda Captive Conference.

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