Advisen Webinar: Managing Risk through the Economic Recovery

Sponsored by Zurich

On Friday, March 18 at 11am EDT, a panel of experts examined risk management strategies during the economic recovery. The improving economic climate is good news, but the risk profiles of companies change as business activity picks up. Increased activity means not only proportionately more losses, but also increased exposure in areas such as workers' compensation and employment related suits.

Slowly, but with growing certainty, the economy is recovering. US GDP grew 5.6 percent in the fourth quarter, and consumer confidence is on the rise. Improving economic vitality is good news, but for many companies, their risk profiles change as business activity picks up. Increased activity means proportionately more losses: more trucks driving more miles will inevitably result in more accidents, for example. Where the important changes to the risk profile take place, however, is in areas where exposure to loss increases disproportionately to the growth in business activity.

As the economy improves, companies should identify those areas where exposure to loss increases and take steps to manage the risk. Those steps can include various safety and loss control measures, but also should entail a review of insurance programs to be certain the coverages in place are adequate and appropriate to the changing risk profile.

Concerns about increased risks should not dissuade any company from taking full advantage of an improving economy, but companies should not let growth overwhelm prudent risk management. Many companies are likely to see their risk profiles change as business activity picks up, but by understanding where within their organizations exposures are likely to increase, business owners and managers can take steps to keep risk in check without dampening growth.

ABOUT ZURICH

Zurich Financial Services Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. Founded in 1872, the Group is headquartered in Zurich, Switzerland. Zurich Financial Services Ltd (ZURN) is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt program (ZFSVY) which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.

ABOUT ADVISEN

Advisen helps insurance professionals to gain and retain their clients. Advisen does this by managing business information on over 15 million entities in every industry, while integrating market data - policy transactions, wordings and severity losses to enable professional's insight into their client work. Advisen furthers that insight with timely news, critical risk analytics and time-saving workflow tools for over 500 industry leading insurance firms. Advisen delivers actionable information and risk models at a fraction of the cost to have them built internally. Designed by risk and insurance experts, and used daily by more than 100,000 professionals, Advisen combines the deepest data sets with proprietary analytics and provides insight into risk and insurance that is not available from any other firm.

Advisen is headquartered in New York. For more information, visit http://www.advisen.com or call +1.212.897.4800 in New York or +44(0)20.7929.5929 in London.

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Managing Risk through the Economic Recovery

Slowly, but with growing certainty, the economy is recovering. Improving economic vitality is good news, but for many companies, their risk profiles change as business activity picks up. Increased activity means proportionately more losses: more trucks driving more miles will inevitably result in more accidents, for example. Where the important changes to the risk profile take place, however, is in areas where exposure to loss increases disproportionately to the growth in business activity.

Managing Risk Through the Economic Recovery examines areas where companies are likely to see their risk profiles change during the economic recovery, including workers' compensation, employment-related lawsuits and regulatory enforcement actions, and lawsuits sparked by mergers and acquisitions. It highlights the workers compensation, liability and labor law exposures associated with inexperienced employees, temporary employees and independent contractors, and provides valuable insight into mitigating and managing the risks.