Public Sector Risk

The established insurance markets in Western European countries and the developing markets in Latin American countries present separate sets of challenges for insurers looking to grow in these regions, but unique opportunities exist for those who understand and take advantage of the different business environments, regional experts say.

While the economy overall may be slowly recovering, public-sector budgets wont see much relief until a year or more after the U.S. economy finally stabilizes.

The City of Columbia, Mo.s money-saving efforts include increasingly concentrated attempts to keep Workers Compensation costs down, says Sarah Perry, the citys risk manager for more than 15 years and a member of NUs Risk Managers Advisory Board.

As state and local governments find themselves in possession of more private information that could be illegally accessed online, Cyber Liability is a coverage area of growing interest for public-sector risk managers.

Public-sector risk managers look to such options as public-private partnerships and Workers Comp-reduction programs, in order to make the most of their limited budgets as the economy slowly recovers.

Two effective Workers Compensation cost-control strategies involve the carrot and the stick.