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Risk managers urged to take strategic, problem-solving approach - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk managers urged to take strategic, problem-solving approach by Claire Wilkinson Penni Chambers and Charlie Carriker speak Tuesday at Rimsworld in Philadelphia. Risk Management May 5, 2026 PHILADELPHIA – Risk professionals should tap into animal traits and take a strategic, curiosity-driven approach to risk, rather than just buying insurance and hoping for the best, panelists said Tuesday at the Risk & Insurance Management Society’s Riskworld conference. Effective risk management programs should combine an ostrich’s elevated vision and grounded resilience with the adaptability and problem-solving instincts of a monkey to better anticipate threats and manage exposures, they said. Natural hazards remain the primary exposure for property risk, underscoring the role of insurance but also the need for resilience, said Penni Chambers, senior vice president of risk management at Hillwood, a Dallas-based real estate investment and development company. “Natural hazards … are our largest problem. It’s why we buy insurance… the losses will happen,” she said, adding that mature programs must “stay grounded when the shift happens.” Natural catastrophe risk is a primary driver of property losses, with insured losses exceeding $100 billion annually in recent years, said Charlie Carriker, strategic sales leader at TÜV SÜD Global Risk Consultants. From a risk engineering perspective, companies should approach natural hazards in three stages: avoiding exposures where possible, mitigating unavoidable risks and testing response plans, he said. Tabletop exercises remain underused but are critical to identifying weaknesses and improving preparedness, said Ms. Chambers who is also a RIMS board member. “Are you table-topping?” she said, noting that such exercises can reveal “the areas that you’re the weakest in.” Insurers are increasingly scrutinizing valuations and underlying exposures, making accurate data and detailed analysis key to securing coverage, panelists said. “Look at the values in context, not in isolation,” Ms. Chambers said. Replacement costs, labor and supply chain conditions can vary by location and over time, she said. Hillwood is incorporating modest inflation assumptions for labor costs as they outpace the cost of materials such as steel and lumber, she added. Risk managers should ensure business interruption exposures and rebuilding timelines are properly reflected in valuations, Mr. Carriker said. “You’re always looking for more details, more information,” he said. Data and analytics can help inform both risk engineering and financing decisions, Mr. Carriker said. “Get into the details, but don’t overlook the big picture.” Related News New York Times sued by EEOC over diversity goals May 5, 2026 Howden buys cyber analytics provider Cybeta May 5, 2026 Investigations key as employers navigate rising psych comp claims May 5, 2026 Capacity not keeping up with data-center growth May 5, 2026 Reinsurance capital rises, yet profitability falls: Gallagher Re May 5, 2026 Lawsuit abuse is the new personal tax May 5, 2026 Court upholds denial of medical pot reimbursement for psych injury May 5, 2026 Digital asset risks require policy changes to ensure coverage May 5, 2026 Anthony appointed president of Ryan Specialty unit May 5, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. 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