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Risk managers to discuss issues at summit


The Waldorf-Astoria hotel in New York will be the location for Business Insurance's 2012 Risk Management Summit taking place February 29-March 1. Senior risk managers from across the world will discuss how expansion, efficiency initiatives and technology adoption increase the need for better security, reported Business Insurance. 

This year's summit will revolve around case studies regarding the issues that risk managers are most concerned about, which include cyberliability, risks of global expansion, supply chain risk and business continuity and captive insurance strategies, said the website.

Given that many risk managers around the world are worried about the security of  files online, in entities such as the cloud and email services, businesses should look into purchasing a professional liability insurance policy, which would protect them from some of the potentially devastating fallout from security breaches including phishing and cybercrime.

To find out some of the other concerns of risk mangers across the nation, National Underwriter magazine spoke to a number of risk management professionals.

Karl Zimmel, manager of risk management services for UniSource Energy, told the magazine that businesses should look to create an internal process or consider insurance to help them prepare for a potential cyber-related catastrophe.

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