Business Services Industry
Managing board risk vital.(Opinions)(risk managers role)(Brief Article)
Business Insurance, January, 2005
The recent dramatic settlements by former directors of WorldCom Inc. and Enron Inc. should set the stage for boardroom presentations throughout Corporate America. And risk managers should play a leading role. Boards need to hear the message behind those settlements: Not even the best directors and officers liability insurance programs may protect board members' personal assets absent the directors' own risk management efforts.
The politics of an organization may prevent a risk manager from delivering the message personally. But the messenger, whether it is the chief executive officer, general counsel or risk manager, is unimportant. What is crucial is the message, which should be expressed in a formal presentation rather than tucked inside a report that...
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