What your CEO wants to know about managing risk.
Financial Executive › Vol. 13 Nbr. 5, September 1997
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Summary
Cover Story
CEOs are paying closer attention to their companies' insurance and risk-management programs. In the past, most were satisfied with the risk manager's annual board presentation about the firm's directors' and officers' liability insurance. In the current environment, chief executives consider insurance and risk-management issues to be among their top priorities. Risk managers should therefore be prepared to update the CEO about the organization's risk management program. There are five questions that the chief executive is likely to ask, namely, what risks could cause the business to fail, how globalization is affecting the firm's risk profile, how the cost of risk can be reduced, how pressing is the need for insurance, and how the firm can take advantage of the convergence of the insurance and capital markets. Answers to these questions are discussed.See the full content of this document
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What your CEO wants to know about managing risk.
A decade ago, the CEO's involvement with a firm's insurance and risk-management program rarely went beyond the risk manager's annual presentation to the board of directors about the directors' and officers' liability coverage. Today, however, insurance and risk-management issues are clearly at the top of the CEO's agenda.
If your CEO calls you into his or her office for an update on your firm's risk-management program and the changing risk environment, be prepared. To help you plan ahead, here are five questions your chief executive might ask - and some suggestions for how you could candidly answer those questions. THE CEO: What risks could put us out of business? THE CFO: In the aftermath of huge asbes...See the full content of this document
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