Oil Spill: Did risk management fail?

May 27th, 2010

National Underwriter editor-in-chief Sam Friedman’s recent editorial suggests that part of the blame for the recent oil spill in the Gulf of Mexico lies on the shoulders of risk managers at BP.  Mr. Friedman suggests that loss prevention measures were not implemented as they should have been, and that future drilling for oil in sensitive areas requires better risk management.

What role, and how much authority, should risk managers play in planning for and preventing such occurrences? Let us know.