CIGNA, Arthur Andersen Enterprise Risk Symposium Slated

Arthur Andersen and CIGNA Property & Casualty are co-sponsoring a comparative study and symposium on enterprise risk management. "The New Dimensions of Business Risk" symposium, to be held September 16-18 in Colorado Springs, will examine the changing dynamics of risk management, as well as leading practices surrounding how CFOs are managing enterprise risk. A questionnaire used in conjunction with the study was developed to collect information on the strategies, processes, structures and systems that today's leading companies are implementing to measure and manage risk across organizations.

Prior to the symposium, participants will complete the questionnaire, supplying information on their current business risk management practices. The findings will be compiled into a formal study, which will allow participants to compare their practices against other companies in the study.

"How today's corporate leaders manage their risk within their companies has tremendous financial impact. Effective risk management can also create competitive value. We're providing interested companies an environment where they can examine their own practices and learn from their peers," says Dennis Kane, president, Special Risk Facilities for CIGNA Property & Casualty.

In developing the study, Arthur Andersen and ESIS, a CIGNA P&C insurance services company, went to leading companies from various industries for input. A group of early participating companies has helped drive the key issues being measured in the study's questionnaire.

"For an initiative such as this to be effective, it must have clearly defined value," says James W. DeLoach, Arthur Andersen partner and director of Andersen's Business Risk Consulting practice. "We ensured value by involving some forward thinking companies in creating the study's questionnaire. As with any other benchmarking effort, much of the study's and symposium's value will derive from how effectively participating companies analyze their enterprise-wide risk management process," DeLoach continues.

Participants in the study will meet for an interactive symposium to be held at the Cheyenne Mountain Conference Resort. The two-day conference will be highlighted by topics including: emerging risks and changing risk views, comparing organizational responses, identifying contemporary systems and reporting tools for measuring the impact of business risk, and leading-edge strategies and processes used by CFOs to identify and manage enterprise-wide business risk. Participation is limited. For more information on "The New Dimensions of Business Risk" call toll-free 877-234-7340.