Whether an organization's risk management function is focused on traditional insurable risks or broader enterprise-wide risk management, an audit of risk management should be among the first priorities for senior leadership. If a separate risk management department does not exist, it is even more important as fewer resources are dedicated to the process of identifying and evaluating risks and ensuring appropriate risk responses are intact. With this in mind, here are five ways organizations can benefit from an objective evaluation of the risk management function.

The warm weather is approaching and it’s time to fire up the barbeque. But do so safely. Thousands of fires occur each year due to barbeque related fires. Buildings are damaged, people are injured and sometimes, people die. There are a few rules property owners and managers should put in place so that tenants cooking outdoors can enjoy themselves and stay safe!

The insurance market is showing signs of hardening and that means carriers are tightening underwriting standards and increasing insurance premiums. Property owners and managers with poor loss experience, who are not proactively managing their claims practices, will suffer the financial impact of this market change on a greater basis than their peers.

The successes of our longstanding client, DC Water, are highlighted in an ACE USA Advisory. ARMC is proud to have played a vital role in the initial feasibility analysis, and to have provided implementation support and independent oversight of the rolling owner controlled insurance program (ROCIP) which has helped DC Water achieve significantly improved safety, streamlined claims handling, millions of dollars in insurance cost savings for their rate payers, and broader participation by MBE, WBE, and LSDBE contractors due to availability of sound insurance protection.

Business Insurance's article "ERM lays foundation for regulatory compliance" features commentary from Joe Underwood of Albert Risk. The article discusses the linkages between compliance strategies and enterprise risk management.

Regions Bank's article "Optimizing Business Risk Response" features commentary from Joe Underwood of Albert Risk. The article discusses the concept of risk appetite and the different categories of risk response.