IRMI Update—Issue #189
An E-mail Newsletter for Risk and Insurance Professionals
ISSN: 1530-7948
August 6, 2008
In This Issue
Message from the Editor
Colleague,
Have you noticed the Site Map we recently added to IRMI.com? With thousands
of pages of content, it has become challenging to find the article or information
you are looking for, and we have been hard at work to improve the navigation.
In February we added a superior site search engine (which also searches the
best risk and insurance sites on the Internet) and reorganized the navigation
buttons to make them more intuitive. Now, we are happy to introduce this new
Site Map.
The Site Map page includes an expandable, drill-down, organized folder and
page listing of pertinent pages in IRMI.com. It mirrors the Web site navigation
controls, including the menu bar and section menu for each IRMI.com section
(top container box in the left column). The Site Map is split into two major
sections:
The Site Map includes all the IRMI Construction Risk Conference speaker handouts,
all the Glossary terms, and all the Expert Commentary. Check out the
IRMI.com Site Map. A link to it can
be found at the bottom right corner of every page in IRMI.com.
With about a million visits and 2.4 million page views each year, IRMI.com
is one of the most popular risk management sites on the Web. We sincerely appreciate
the confidence you have in the information we provide. Please tell your friends
and colleagues about IRMI.com and IRMI Update.
Registrations for the 28th IRMI Construction Risk Conference are steadily
rolling in. I'm told that good airfares are still available, and you should
consider making your plans now to take advantage of them and the early bird
discount. Many new topics have been added to the curriculum this year to cover
important issues like green construction, the risk management implications of
building information modeling, allocation of long-tail CGL insurance claims,
mergers and acquisitions, and surety marketplace changes. Take a look at the
complete agenda, speakers, and registration information for the
IRMI Construction Risk Conference.
Thank you very much for subscribing to IRMI Update and for recommending it
to your colleagues.
All the best,
Jack
Jack P. Gibson, CPCU, CRIS, ARM
President
IRMI
Risk Tip
Consider Coordinating Catastrophe Risk with Colleagues—As
a former risk manager of a major international staffing company, I sought to
address and remedy what I felt was probably one of the most potentially catastrophic
exposures of the company—the ability to issue payroll checks each week. Since
the business was primarily composed of temporary workers, it was critical that
the company be able to issue payroll checks every Friday. Should something interfere
with that process, then the temporary employee would simply sign up with another
staffing company. In effect, the most valuable asset of the company would simply
leave. I explored using a "hot site" as an alternative should the main IT site
be inoperable for some reason, but concluded it was too expensive. I then made
some calls to other staffing companies that were located in other states (geographic
dispersion) to see if they used the same payroll software. I found a risk manager
who used the same payroll system and understood the problem. We arranged a solution
by agreeing that we would support each other should our respective payroll systems
be out of commission due to some catastrophe. This was a simple and cost-effective
solution that could work for many other employers with similar exposures.
By: Barney Mercer, CPCU, ARM
Mercer & Associates
Dallas, TX 75206
SUGGEST A RISK TIP: Send us a practical tip (less than 300 words) for identifying
and managing risks, buying insurance, managing claims, or filling gaps in insurance
coverages. Submit your
Risk Tip. We'll acknowledge your contribution as we did for Barney.
What's New in Your IRMI Library
We have recently updated a number of the reference manuals in the IRMI library
and published new issues of The Risk Report
and Captive Insurance Company Reports.
To make sure you don't miss any of this new information take 30 seconds to scan
the "What's New" summary page.
For
IRMI Online and print subscribers
For
SilverPlume Sage subscribers
New Expert Commentary
There are over 1,075 risk management and insurance
articles on IRMI.com. Below you'll find summaries of some recent additions
with links to the articles.
IRMI Construction Risk Conference in Vegas
Reserve your spot today for the
28th
IRMI Construction Risk Conference, October 27-30, at the MGM Grand in Las
Vegas. See video testimonials to learn why 1,500 of your peers attend this premier
event every year. Early Bird rates end September 12, so reserve your spot today
and save $125 when you register online.
Still Time To Say Good-Bye to George Head
In the last issue of IRMI Update,
we announced Dr. George Head's retirement from risk management and insurance
in order to pursue theological studies.
We also mentioned plans to put together a compendium of thanks, thoughts,
and well wishes from his friends and former students. We will be compiling these
in August. To contribute, please
submit your best wishes
to George Head.
What a special gift to someone who has taught us all so much.
Please Share this Issue with Your Colleagues
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IRMI Update to your business associates. Thanks so much!
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