Thus far, 2012 has been a revealing year for risk managers withregard to what the C-Suite expects of them and their ever-evolving(mostly expanding) roles. Here we offer a look back at NU's topstories in the first half of the year, addressing the majorconcerns and challenges of the industry's risk-owners.

10. What CEOs Want from Risk Managers

How do risk managers bring the value of their programs to theattention of the C-suite? How do they keep risk-management issuestop of mind among an organization's leadership team? And perhapsmost important, what do CEOs want from risk managers—and what isthe best way to provide these leaders with the risk-relatedinsights they need?

NU checked in with six accomplished risk managers tohear their strategies for successful C-suite relationships.

9. Survey: Insurers Must Clarify Business-InterruptionTriggers

Risk managers are not confident that the loss-of-earningstrigger for business-interruption coverage is clearly explained tothem, and many feel that the products that are available do notadequately cover their risks, a new survey reveals.

8. CFOs Ask Risk Managers to Address New BusinessRisks

Credit risk—a financial risk, rather than a physical risk—usedto be handled by the credit department. But now, because of themagnitude of the threat, CEOs and CFOs are looking to their riskmanagers to assume this risk as well. Here are the types ofquestions risk managers should be asking of their company'scustomers and partners.

7. Engineering Perspective Can Provide Clarity to PropertyRisks

Corporate risk managers looking to protect their property—and byextension, their organizations' overall financial stability—shouldconsider viewing their facility risks from an engineeringperspective, according to catastrophe-risk expert Akshay Gupta,director of AIR Worldwide's Catastrophe Risk Engineeringpractice.

6. CEOs Owning Risk as Economy Raises Profile of RiskManagement

Increasingly, more CEOs and CFOs are taking charge of theircompanies' risk-management duties, according to a Deloitte &Touche and Forbes Insights survey–and the majority of thosecompanies say they plan to implement changes designed to raise theprofile of risk management throughout their organization.

5. Executives Want Risk Managers to Show More Initiative, SurveySays

Released during the 50th annual meeting of the Risk andInsurance Management Society meeting here, the ninth annualExcellence in Risk Management survey frominsurance-broker Marsh and RIMS found that risk managers are notmeeting the expectations of chief executives—indicating that riskmanagers and the C Suite see eye-to-eye on necessaryrisk-professional skill sets, but gaps remain between how the twoview the risk manager's role.

4. Willis: Boards Must Be More Aware of CyberLiability

Company directors do not realize the full threat of theircyber-liability exposure and they must be more aware of the legalhazards they face or risk litigation from investors and regulators,says Francis Kean, Willis Group Holdings executive director in thefirm's FINEX Global Unit. “There is a whole universe of potentialcyber risk not understood at a board level,” he says. “This, inturn, creates a risk that directors will fail to discharge theirduty of care and duty to promote the success of the company.”

3. 10 Tips When Considering Cyber Insurance

Cyber insurance policies are different from most other types ofinsurance as they are focused on mitigating down-the-road legalliabilities that may arise from a breach event. It's important toinvolve relevant managers from across the organization early in thedecision-making process to make sure their departmentalrequirements are known and policy options are understood. Werecommend that companies looking at cyber insurance consider thefollowing steps.

2. RIMS: 2011 Cats Drive Up Total Cost of Risk Across MultipleIndustries

Tremendous insured losses from natural catastrophes in 2011 tooka toll on pricing across all insurance businesses, according to thenewly released Risk and Insurance Management Society (RIMS)Benchmark Survey measuring Total Cost of Risk (TCOR) and its impacton 10 industry groups.

1. Cyber Risk, Film Crews, Dorm Safety: It's All in a Day's Work forNYU's Chief RM

Being bored at work is never an issue for Michael Liebowitz. Asthe head of the risk-management department at New York University,one of the country's largest private institutions of higherlearning, Liebowitz faces an incredible array of risks everyday—many of which never crop up in Corporate America.

Click here to watch the video!

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