Insurance and Risk Management Committee's New Direction

The Insurance and Risk Management Committee will rebrand its name to the Risk Management Committee.  The decision was made unanimously by the Steering Group in order to meet the evolving changes of the industry.  As noted by the Steering Group, the main responsibilities of Risk Management Departments are to mitigate risk financially, and adopt new strategy and control procedures for greater safety.  While insurance is important to a risk management professional, it acts as a sub-component to the risk management.  Going forward, any insurance related topics will be addressed through the Risk Management Committee Working Groups.

The Working Groups have been rebranded to the following names but responsiblities and projects remain the same:

  • Strategy to Enterprise Risk Management
  • Safety and Loss Control to Risk Control
  • Compliance and Regulatory to Compliance and Regulatory (unchanged)
  • Risk Financing (new Working Group)