When Kitty Hawk's newly hired director of risk management, Bob Buchanan, met with his insurer's representative days after taking the job in 2003–and was bluntly told in no uncertain terms that his company was one of the worst risks the carrier covered for workers' compensation–he knew he had his work cut out for him.

Taking the insurer's assessment to heart, Mr. Buchanan launched a dramatic restructuring plan that would turn the company's loss control and safety situation around in less than six months. His firm's efforts earned Kitty Hawk an Honorable Mention in the inaugural National Underwriter "Award for Excellence in Workers' Compensation Risk Management."

Kitty Hawk–a publicly traded airline cargo holding company based in Dallas/Fort Worth, with subsidiary businesses in air and ground cargo transportation–does the type of work that would make most risk managers cringe. With over 940 employees, the firm transports about 150,000 pounds of diverse cargo a day–everything from plasma televisions to sharks and zoo animals, to jewelry and fine arts.