Top-flight risk managers are not one-trick ponies. Historically, they have confined themselves to property and casualty risks. They did not touch areas like accident and health benefits, life insurance, sort and long-term disability, or employee assistance programs.
That may be changing, though. The current trend is to bring risk managers into the realm of employee benefits, as well. An increasing number of observers believe that risk managers can add substantive value to the employee benefit side of the house. Let's look at some ways that risk managers can leverage their skills to improve a company's administration of employee benefits.
Many believe that the risk management department is better suited to handling funding issues. For this reason, Lyle Walker, president of Walker Risk Management in Allen Park, Mich., believes that much common ground exists between human resources and risk management. The method of determining optimum funding mechanisms does not change from those handled by risk management to those handled by human resources. Risk management probably is best equipped to handle funding decisions, he argues.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
