RIMS Press Panel Eyes Reputational Risk

Effectively getting an organization's position across during a crisis is a key aspect of enterprise risk management, as poor press relations can exacerbate an already catastrophic situation. How can risk managers help?

That's the challenge that will be addressed by a panel of the field's leading journalists during the upcoming Risk and Insurance Management Society's annual conference in San Diego.

The session--"Reputational Risk: Working With The Media" (RMG 101)--will be held on Monday, April 28, from 1:45-to-3:15 p.m.

The top editors from the nation's four leading risk management publications will join forces to provide insight and advice on how risk managers can work with top management, operations, communications and the legal department to be more proactive with the press.

The goal is to limit the damage to an organization's reputation and protect the firm's brand after a crisis, thus minimizing wider repercussions--such as a steep decline in sales revenue, or of a public company's stock price.

The session will include a handout summarizing "Lessons Learned" and "Press Tips" to guide risk managers when they return to their desks.

Among the individual presentations:

o Sam Friedman, Editor In Chief of National Underwriter, will moderate the session. His presentation will focus on how the insurance industry--so much a part of the daily lives of risk managers--has earned such a poor reputation, with suggestions on how insurers and brokers might turn their image around.

o Regis Coccia, Editor of Business Insurance, will discuss how service organizations have dealt with incidents damaging their reputations, such as the fallout last winter when JetBlue left thousands of passengers stranded on the runway during weather-related problems, prompting calls for a passenger bill of rights.

o Jack Roberts, Editor In Chief of Risk & Insurance, will explore the reputational challenges faced by pharmaceutical firms following product recalls, particularly when class-action suits are filed.

o Bill Coffin, Publisher & Editorial Director of Risk Management, will examine what role risk managers can play in assuring their organizations are prepared to deal proactively with the media during and after a crisis threatening their brand reputation, including whether this might be the first step toward full-fledged enterprise risk management.

Among the other questions to be addressed during the session:

o How can risk managers develop good relations and trust with the media before disasters strike?

o How might risk managers anticipate and help top executives answer the tough questions likely to be posed by the press?

o How visible should the CEO be? What role should risk managers play?

o How can organizations recover from early missteps and get back on track before it's too late to save its reputation?

In addition, NU is leading a second session at the RIMS conference, featuring the winners of the National Underwriter "Award For Excellence In Workers' Compensation Risk Management."

Three award-winning directors of risk management will share the secrets of their success in loss control, safety and return-to-work programs, including NU's 2007 Champion, Gary Nesbit of Belk Department Stores, along with Honorable Mentions Rob Osha of Rolls-Royce North America and Bob Buchanan of Kitty Hawk Air Cargo.

The session on "Excellence In Workers' Comp Risk Management" (RMG 216) will be held on Thursday, May 1, from 9:45-11:15 a.m.

--In Reverse Bar

To register for the Risk & Insurance Management Society's annual conference in San Diego, or for more information, go to www.RIMS.org.