Loss Control

Although the incidence of fire has shown a steady decrease over the last 30 years, the average cost-of-fire loss has increased, according to the National Fire Protection Association (NFPA) (see chart). Agents, brokers and insurers can help risk managers keep fire safety a top priority throughout the year by identifying...

BP’s Safety & Operational Risk program, whose safety and risk unit reports directly to BP's chief executive officer, has been fully operational since earlier this year.

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.

How does The Walt Disney Co. handle its risks? By considering risk “at both the business-unit level and from an enterprise-wide point of view,”…

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...

Enterprise risk management (ERM) has come a long way in a short time. Just a few years ago, the question was whether ERM was really even relevant. Today, a growing perception that ERM is a business discipline that can advance an organization’s big-picture objectives is driving higher adoption rates across...