We asked risk managers and their brokers about what they expect will be the biggest challenges in 2013—and how they are preparing to respond to them. 

Frank Russo, Vice President of Risk Management, Silverado Senior Living

"If I had to use one word to sum up 2013, it would be 'uncertainty.' I'm concerned by the hardening of insurance markets [next year], specifically Property, Professional Liability and Workers' Compensation. With market hardening come fewer opportunities: There will be fewer carriers willing to insure, fewer financing options and alternatives, and [higher rates]. 

"We are approaching 2013 as a year to reevaluate our entire risk portfolio. Companies are going to have to become creative in the way they mitigate and manage risk—they're going to need to bet on themselves and outperform loss forecasts. Traditional insurance programs are becoming far less attractive in today's uncertain risk climate.

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