Los Angeles Chapter of Risk and Insurance Management Society

Next Meeting

September 20th, 2017
"Monthly Education Event"

News Items

Oroville Dam Flood Claims Filed
California residents in the path of water spilled from the Oroville dam in February had until Aug. 11, six months after the incident, to file claims.

The Mercury News reported that Butte County farmer George Onyett, manager of J.E.M. Farms and Chandon Ranch, filed a $15 million claim, saying that after the flooding in February, about 25 acres of walnut trees were washed away by the Feather River. He said that 1% to 2% of the trees in his walnut orchard were lost and that his land is now "irrecoverable."

Can You Have Too Many Coffee Shops?
The collective mood among Starbucks (SBUX) shareholders may have been dark and intense on Wednesday, following a 1% downgrade of the coffee company's share price by BMO Capital Markets due to "store overlap." BMO analyst Andrew Strelzik wrote: "There are now 3.6 Starbucks locations within a one-mile radius of the typical Starbucks in the U.S. relative to 3.3 and 3.2 stores in 2014 and 2012 respectively."

Going Lo-Fi At Sea May Mitigate Cyberrisk
Cyberthreats have become seaborne in recent years, and preventative measures are on the radars of governments and the shipping industry.

GPS and other electronic systems have proven to help ensure safe and accurate navigation, but they have also put digital bullseyes on ship decks. These technology upgrades have unwittingly exposed ships to cyberrisk because their signals are weak enough for remote perpetrators to jam.

The ERM Value Connection
Research has shown that enterprise risk management (ERM) adds value. One research paper showed that ERM adds to the value metric called Tobin's Q. Other award-winning research has shown that ERM enables better decision making. The authors of that research state:

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President's Message

Manny Chavez
Sunday, June 25, 2017 1:45pm: I just left the gym, got in my car and the temperature read 109 degrees. Driving home I noticed a huge brush fire had started near Hwy 14 (Santa Clarita)...Ugh. I guess we can now say Summer has arrived! Don't get me wrong, I do love this time of year. It's a time for vacationing, enjoying the beach and nearby mountains, the days are long and the evenings are a great way to spend time with family and friends.

A few weeks back LA RIMS kicked off the summer with our annual Golf Tournament at Brookside Country Club in Pasadena. What fantastic day it was! Over 160 golfers took the greens to another level. Our Hole Sponsors were decorated fabulously and definitely turned a few heads.

AIG's hole had Sandy & Johnny from the movie "Grease," and yes that was Lisa wearing the black spandex singing "you better shape up...!" ATI, IMBER Court Reporters, The Hartford, AON, JLT and many others were in fine form. But, this year the music from FM Global certainly rocked the greens! If you happened to be karting by the FM hole, Desi Gamez and Lindsey Billet have a bit more to offer than their risk/insurance talents... those two can sing!!
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