Product Update

In-House Risk Management, Cash Flow Plans, and Reservation of Rights Topics Discussed in Practical Risk Management

This release of Practical Risk Management updates two topics and adds one new one.

  • Topic A-2, "Why In-House Risk Management and Staffing a Department," provides a rationale for keeping or creating an in-house risk management function. It covers the processes for establishing risk management as a profit center, business valued partner, and superior service provider. It also describes the core value-adding functions of an in-house risk management department and the process for determining department staffing.
  • Topic B-3, "Cash Flow Plans," covers the advantages of cash flow programs, who is a candidate for a cash flow program, measuring the comparative value of options, and the main types of cash flow plans.
  • Topic G-43, "Reservation of Rights," explains what a reservation of rights letter is, when an insurer must issue one, what the letter is likely to say, and how the insured should respond.

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