Risk managers turn to the Web for news, views
Internet offers easy access to wealth of detail
by DAVE LENCKUS

Risk managers typically value Web sites for the breaking risk-related news they deliver on specific industries, and news outlets, industry associations and insurers are a main source of that information.

Regulatory agencies are another popular source of information.

Web sites that offer white papers, particularly those that cover claims issues, are favorites of risk managers, as well.

Other popular Web sites provide news that would be useful to risk managers' bosses, including information pertaining to their organizations' core business, even if those sites do not focus on risk management issues.

One of the more popular Web sites among risk managers is www.rims.org, the official site of the Risk & Insurance Management Society Inc.

James D. Hinton, vp-risk and insurance at HCA Inc. of Nashville, Tenn.; Gary Kilburg, assistant treasurer, risk management at Whirlpool Corp. of Benton Harbor, Mich.; Eric Larson, chief risk officer at the Bonneville Power Administration of Portland, Ore.; and Beaumont Vance, senior enterprise risk manager for Sun Microsystems Inc. of Broomfield, Colo., say they visit the site routinely.

For some, such as Mr. Vance, rims.org is "an all-purpose site" that provides news, networking capabilities and information on enterprise risk management on a daily basis.

Mr. Kilburg, though, uses the site only for networking a few times a week.

Messrs. Kilburg and Vance turn to the Web sites of specialty magazines to keep track of news that affects risk management and broader financial concerns, including publications that cover finance-related issues that may be outside the immediate responsibility of risk managers.

Another site that provides valuable finance-related news to Messrs. Vance and Larson, who both have an ERM program, is www.garp.com--the Global Assn. of Risk Professionals' Web site.

Likewise, hospital risk managers value Web sites that provide breaking industry news and often turn to their trade organization's site, but they also click on a variety of different sites. Both Mr. Hinton and Richard P. Kidwell, associate counsel and director of risk management for the University of Pittsburgh Medical Center in Pittsburgh, often visit the American Society for Healthcare Risk Management's Web site--www.ashrm.org.

Mr. Hinton said he also finds valuable medical malpractice-related information at various insurers' Web sites-- including Chicago-based CNA Financial Corp., at www.cna.com; The Doctors Co. of Napa, Calif., at www.thedoctors.com; and San Francisco-based NORCAL Mutual Insurance Co., at www.norcalmutual.com.

In Pennsylvania, the state's Patient Safety Authority issues quarterly reports that identify medical errors in the state and offers recommendations for avoiding such errors.

The agency posts those reports on its Web site, www.psa.state.pa.us, "and I read every one of them," Mr. Kidwell said.

For information on credentialing and patient safety issues as well as the latest updates on medical malpractice cases, Mr. Kidwell turns to the www.hortyspringer.com Web site managed by law firm Horty, Springer & Mattern P.C. of Pittsburgh.

Mr. Kidwell also visits the Web site of the Washington-based American Health Lawyers Assn., at www.healthlawyers.org, for insights on medical malpractice legal problems and solutions across the country.

In addition, Mr. Kidwell routinely clicks on the Web site of the Joint Commission on Accreditation of Healthcare Organizations of Oakbrook Terrace, Ill., at www.jointcommission.org.

Mr. Larson's CRO responsibilities at Bonneville Power include overseeing the internal controls of the facility's electricity wholesale marketing efforts.

A valuable Web site for him is www.nymex.com, where the New York Mercantile Exchange posts closing prices on energy futures and provides information on natural gas prices, which interplay with electricity prices.

The Web sites of trade organization Edison Electric Institute, at www.eei.org, and Electric Utilities Consultants Inc., at www.euci.com, are helpful as well, according to Mr. Larson.

Risk managers offered a few additional recommendations:

• For public entity risk managers, the Public Risk Management Assn.'s site at www.primacentral.org is valuable, Mr. Larson said
• "An excellent location to find papers addressing almost every traditional risk management topic" is the International Risk Management Institute's Web site, www.irmi.com, Mr. Vance said.
• For risk managers with ERM programs, Mr. Vance recommends the Web site of Palo Alto, Calif.-based management consultant Strategic Decisions Group--

www.atra.org
American Tort Reform Assn.
The Web site of the American Tort Reform Assn. contains a wealth of easily accessible information. Among the most impressive features of the site is a state-by-state archive of tort reform statutes, easily accessible through an interactive map of the country. A single click grants access to federal reforms as well. The site also allows easy access to ATRA reports, including the annual "Judicial Hellholes" report on problem judicial jurisdictions.     --Mark A. Hofmann

www.captive.com
Captive.com L.L.C.
The captive industry is well-served by www.captive.com, a Web site dedicated to bringing all members of this specialized sector--from novices to seasoned experts--pertinent resources, information and breaking news. Alternative insurance newcomers will find the "templates and tools" section especially helpful. It offers: a pre-feasibility tool to help determine whether or not a captive makes sense for your organization, sample regulatory business plans for captives and tips on selecting a domicile. Captive and alternative risk transfer professionals will appreciate the business contacts and networking opportunities offered by the site, including: directories of service providers and industry associations and the "conference calendar."     --Rupal Parekh

www.epa.gov
U.S. Environmental Protection Agency
Although the U.S. Environmental Protection Agency's Web site at www.epa.gov is busy, it's not that hard to navigate and it's chock full of information that risk managers would find useful, from facts on numerous natural and man-made hazards to passed and proposed environmental laws and regulations. The site also contains good information on disaster response--such as hurricane, tornado and extreme heat preparedness--in addition to recent environmental news and tips on ways commercial establishments can help protect the environment.    --By Sally Roberts

www.marsh.com
Marsh Inc.
Marsh Inc.'s Web site offers loads of information pertinent to risk managers, ranging from quarterly insurance market reports to reports on hurricane preparedness, climate change and doing business in China. The easy-to-navigate and attractive site also offers various interactive tools through which a risk manager can evaluate his or her firm's avian flu business continuity preparedness or compare liability limits or workers compensation losses with industry peers.    --By Sally Roberts

www.nhc.noaa.gov
U.S. National Oceanic and Atmospheric Administration
The National Hurricane Center site is for any risk manager with responsibilities for windstorm-exposed property--a must-visit during hurricane season. The site features regular reports of a tropical storm's intensity and path, reports that are regularly updated as the storm approaches landfall. In addition, the site contains links to satellite images of a storm's progress as well as archival material that provides more hurricane information than most non-meteorologists would ever imagine existed.    --By Mark A. Hofmann

www.nonprofitrisk.org
Nonprofit Risk Management Center
The Web site of the Nonprofit Risk Management Center provides numerous resources for risk managers of nonprofit organizations in one central location. A variety of free articles, risk-assessment tools and technical assistance--questions can be sent in to be answered by experts using a special online form--are available through the site, as well as certain paid services, such as Web-based courses and risk management software. It's straightforward design and use of muted colors is a bonus for users.    --Rupal Parekh

www.overlawyered.com
Walter Olson
This Web log remains perhaps the best and certainly the most amusing tort reform site on the Web. It's constantly updated, with several new examples of lawsuit inanity added every day. Part of the beauty--and utility--of the site rests in the broad range of topics covered, including commentary from its creator, Walter Olson, who's well-known to risk managers for his works on liability.    --By Mark A. Hofmann

www.rims.org
Risk & Insurance Management Society Inc.
The Web site of the Risk & Insurance Management Society Inc. offers a wide variety of valuable information for risk managers. Although some of information on the site can only be accessed by RIMS members, plenty is open to the public including information on enterprise risk management, briefings on key issues, such as terrorism insurance and asbestos liability, and job listings for risk managers.    --By Gavin Souter

www.thomas.gov
Library of Congress
This site is the ultimate destination for the risk or benefit manager policy wonk, or anyone who wants to know word-for-word details of any bill introduced in either house of Congress. The site--named in honor of President Thomas Jefferson, which is maintained by the Library of Congress--provides complete bill texts as well as summary and status information. It's extremely easy to use and contains links to a variety of other federal Web sites. As an added bonus, thomas.gov provides access to complete bill texts back to 1989 and summaries of legislation back to 1973. There site suffers from one drawback, though--texts may not appear until a day or so after a bill is introduced.    --By Mark A. Hofmann