Not only are most risk management departments being spared substantial cutbacks despite the deep contraction in corporate America, but the overwhelming majority of risk managers are happy in their jobs even in these challenging times.

Willis launched a public awareness campaign at the nation's largest gathering of commercial insurance buyers, aiming to educate risk managers about conflicts of interest inherent in contingent commissions.

Risk managers at organizations of all sizes are earning six-figure incomes on average these days, while most are substantially boosting their base salaries with bonuses and additional benefits.

For risk managers to keep their jobs in this difficult economy, they must remain "highly visible" by making sure their senior management and board members appreciate the bottom-line savings.

Not only have most risk management departments been spared layoffs, but the overwhelming majority of risk managers are happy in their jobs, an NU/Logic survey found. For a sneak peak, see Editor Sam Friedman's blog at www.NUSamSoapBox.com.

Zurich Financial Services Group in Zurich, Switzerland, said based on preliminary estimates its loss from the Chile earthquake will be $200 million.

The Travelers Companies Inc. reported first-quarter profits fell 2.3 percent, pushed down by "unusually significant" catastrophe losses of $471 million pretax.

Willis Group Holdings said it will unveil an Internet-based campaign to educate insurance buyers about the conflicts of contingent commissions at the Risk and Insurance Management Society meeting in Boston.