What will be the biggest property risk management challenges in 2007? To get a flavor for that, we checked in on two risk management discussion forums on the Internet to gauge themes, thoughts and predictions. Nine areas emerge as concerns. View these as a roadmap for fine-tuning your risk management of tangible and intangible property in the coming year. See this list as an opportunity to plug financial "leaks" in your risk management program.

Location-Driven Perils

In property risk management, as in real estate, the three most critical factors are location, location, and location. Mike Benishek, risk manager of Pacific Tomato says that the biggest property risk management preoccupation in 2007 will probably depend on geography. For example, Florida-based Benishek's biggest property exposure consists of several two-story metal buildings (valued at $12 million and $8 million) located within nine miles of the Gulf of Mexico; his insurance policy has a $5,000,000 "named storm" deductible. He frets about possible business income and interruption claims from another Gulf hurricane, which is more a question of when rather than whether.