Implementation of enterprise risk management within the insurance industry—driven by ratings agencies and anxious boards—is moving steadily forward, with large global reinsurers at the head of the adoption curve. In fact, these reinsurance giants are not only leading the way on ERM within the insurance industry itself—but are so advanced...

Michael Liebowitz, director of insurance and risk management for New York University, began an ERM program for his institution in 2010. Here’s a look at how he started the program—and the benefits it is already delivering.

The new Safety & Operational Risk (S&OR) program of BP (formerly British Petroleum) is now fully operational.

The new Safety & Operational Risk (S&OR) program of BP (formerly British Petroleum) is now fully operational.

As director of risk management services for the Tucson Electric Power Co., Karl Zimmel has had his share of challenges, the latest being the massive wildfires in Arizona, which have charred hundreds of thousands of acres and come dangerously close to several of TEP’s facilities.

As director, risk management services for the Tucson Electric Power Company, Karl Zimmel has had his share of challenges, the latest being the massive wildfires in Arizona, which have charred hundreds of thousands of acres and threatened TEP facilities.

BERMUDA—A listless economy has meant $150 million trimmed from Bermuda’s budget, but a brighter outlook is expected later this year, according to Bermuda and U.S. officials.

Zurich Financial Services Group says that one of its non-core subsidiaries in the United Kingdom, Zurich Specialties London Ltd, will transfer its runoff insurance business to Swiss Re at book value.