Press Release

IRMI Acquires Practical Risk Management from ARM Tech

Dallas, TX, August 10, 2006—International Risk Management Institute, Inc. (IRMI) has acquired Practical Risk Management—The Risk Professionals’ Handbook from publisher ARM Tech. Effective immediately, IRMI will assume all business responsibilities as publisher.

Practical Risk Management, published since 1974, has grown into one of the world’s most widely used risk management references. Known in the industry as "The Green Book," this two-volume reference manual covers all aspects of risk management including Risk Finance & Self-Insurance, Loss Control/Claims Management, Legal & Political Aspects, Property Risks & Insurance, Liability Risks & Insurance, and how these issues affect specific industries.

"This move allows ARM Tech’s principals and consultants to focus on our consulting business without the diversion of running a publishing company on the side. In addition, IRMI has invited us to remain involved as advisors and occasional authors. This allows ARM Tech to continue sharing the knowledge and insights we gain from our consulting engagements," said Steve Kahn, ARM Tech’s Managing Director.

In response, IRMI President Jack Gibson said, "I relied on advice provided in Practical Risk Management when I was a consultant in the late 1970s and have admired it from a publisher’s perspective ever since joining IRMI in the early 1980s. Everyone here is excited to add such a high-quality publication to the IRMI library of resources. We see great things ahead for ‘The Green Book’."

In keeping with the practical, hands-on focus of Practical Risk Management, IRMI plans to involve experienced risk and insurance professionals in the editorial work. For example, Millicent Workman, CPCU, 1992’s "Risk Manager of the Year" and current president of the CPCU Society, has agreed to contribute to topics which will be included in the manual’s upcoming supplements.

Practical Risk Management is available in both print ($355) and electronic format (starting at $190) by visiting www.IRMI.com/Products or calling IRMI Client Services at (800) 827-4242.