VANCOUVER, British Columbia—The inaugural class of the Risk Management Hall of Fame was introduced Monday at the Risk & Insurance Management Society Inc.’s Annual Conference & Exhibition in Vancouver, British Columbia.

The first inductees are:

•Douglas Barlow: Mr. Barlow created the first global insurance and risk management program at Toronto-based Massey-Ferguson Ltd. and is credited as devising the idea that an organization’s total cost of risk extends far beyond insurance premiums, and includes factors such as its investment in loss prevention, unreimbursed loss expenses and administration expenses.

•Donald Barrett: Mr. Barrett was former manager of corporate affairs and risk management for Newfoundland and Labrador Hydro Group of Cos. in St. John’s, Newfoundland, and a founding member of the Newfoundland and Labrador RIMS Chapter. In 1985, he became the first Newfoundlander to receive the Canadian Risk Management designation.

•Eldrich Carr: Former manager of global risk management for The Goodyear Tire & Rubber Co. in Akron, Ohio, Mr. Carr was an early user of the Internet for underwriting submissions as well as a proponent of reducing insurance-related administrative and transactional costs.

•Cheri Hawkins: Former assistant treasurer and director of insurance for Weyerhaeuser Co. in Tacoma, Wash., Ms. Hawkins became the first female president of RIMS in 1990.

•John Pinner: Mr. Pinner was former assistant treasurer of Mattel Inc. in El Segundo, Calif., and spent 42 years with the toy company creating and shaping its risk management function, including formation of Mattel’s captive insurance company in Bermuda.

The Risk Management Hall of Fame, co-founded by RIMS and Chartis Inc., American International Group Inc.’s property/casualty unit, aims to recognize individuals who have made significant contributions to the history and tradition of risk management, RIMS and Chartis said in a statement.

The selection committee is made up of RIMS’ president and executive director, two Chartis executives, one former RIMS president, one member of the Spencer Educational Foundation Inc. board of directors and one risk manager with at least 10 years of experience in the field, Ms. Roth said.

Criteria for the award include: significant contributions and achievements in the field, innovation and trend-setting, demonstrated leadership, character and service, and the highest caliber of ethical and professional conduct, according to the statement.