Risk managers who avoid contact with the media may be shortchanging their organization and their career, according to a panel of media experts here.

The session, Meet the Insurance Press, at the annual conference of the Risk and Insurance Management Society (RIMS), was sponsored by National Underwriter. Panelists were Regis Coccia, editor, Business Insurance; Bill Coffin, director of publications and publisher of RIMS' Risk Management Magazine; and John A. Roberts Jr., editor-in-chief of Risk & Insurance.

Panel moderator Sam Friedman, editor-in-chief of National Underwriter, opened up the discussion with an observation that "the media is the lens through which most of the public, including regulators and legislators, even members of Congress, see the industry."

He said that although assuming the role of chief risk officer or enterprise risk manager is currently the "holy grail" for risk managers, "I will throw down the gauntlet, and I will say that if you really want to evolve into an enterprise risk manager or chief risk officer, if you aren't helping your organization manage its image in the media, then you are not a CRO or an ERM--it's that simple."

Mr. Roberts advised that those approaching the media with article ideas should keep in mind that, "I'm not there necessarily to promote your particular product." Rather, he said he represents his readers and tries to find articles that risk managers and brokers "would find compelling and interesting to read." He added that many article suggestions are not appropriate.

He said that those who do have an opportunity to work with the press need to "make sure that everybody understands the ground rules up-front before starting to talk." He said, for example, that asking to see an article before it goes to print after an interview is over "creates a lot of problems." He added that "if there is something you think you shouldn't have said to us, then you shouldn't have said it to us."

Mr. Roberts recommended that stating before an interview that, "'there may be some portions of this conversation that I don't want you to write about or attribute to me,'" can help establish ground rules. If a topic is extremely technical, for example, he said the person being interviewed may be able to check portions of the article for accuracy. "Fundamentally, what we're looking for here is to be accurate," he said, adding, however, that, "You just can't do those things after the fact."

He advised that because editors often work on deadline, "if we call you, chances are there is a very good reason we want to talk to you today, or quickly, rather than in a couple of weeks." Mr. Roberts also observed that risk managers do seem to be more open to talk to the press than in the past.

Mr. Coffin agreed that risk managers looking to advance their careers to CRO or CFO can't do so without "somehow interfacing with the media."

He said that trying to get risk managers to reach out to the magazine has been difficult. Part of this is because of time constraints, but he said that risk managers sometimes hesitate to come forward because they're cautious, or because of rules within their organization that may prevent them from speaking to the press.

He said that getting into print is a "great opportunity" for risk managers, who are sometimes not visible within their organizations. Risk managers can establish themselves as sources, or by writing articles for print, he said. Being in print, he said, is an opportunity to "not just help put your own efforts on display, but also it can help raise general awareness of what your industry is."

Mr. Coffin noted that avoiding the media during a crisis can be a mistake. "The media can actually help you manage a crisis quite well," he said. When a hypodermic needle was found in a Pepsi Cola can, he observed that Pepsi reached out to the media to demonstrate how its production line worked, and "why a hypodermic needle cannot get in the can."

Mr. Coccia said that journalists are human and make mistakes, but that they also are quick to acknowledge those mistakes and correct them.

He said that journalists are privileged to be able to access expertise in the industry. He said that talking to experts in the industry helps journalists to develop a deeper understanding of a topic and to be able to spot trends.

Becoming a trusted source, he said, gives greater visibility to risk managers, helps them get their message across to a large audience and to display their expertise. "I would encourage anyone who has the opportunity to speak, either on or off the record, to do that and not to fear us. We are the messengers, we're not the enemies," he said.

Mr. Coccia said that because mainstream publications don't cover the industry with the "frequency or depth and intensity that we do," they often miss the positive aspects of a story. "You can partner with us to be able to get a positive message out," he said, adding that "I would encourage everybody to look at us as partners in communicating."

He also stressed that risk managers need to be aware of the ground rules when accepting public speaking engagements. He cited the recent example of a panelist, who informed a reporter after a public talk that he could not be quoted because of his company's policy.

Mr. Coccia said that after a conversation, the speaker assented and the article was published. It was pointed out by panelists and a member of the audience, however, that while Mr. Coccia was accommodating to the speaker, it is within a reporter's rights to quote anyone speaking in a public forum.

This article was reprinted with permission from our sister publication, National Underwriter P&C.

Interested in more risk management news and in-depth articles? Head over to Claims' risk management channel for more information.

Special Reports /

Media Not the Enemy of RMs, Panel Says

Related Stories

Recommended For You