Tuscaloosa mayor Walt Maddox will address risk management through the lens of the April 27, 2011 tornado at the Alabama Insurance Society’s Kickoff Banquet on Thursday, Sept. 20, at 6 p.m. at the North River Yacht Club.
UA students and faculty will attend the banquet along with professionals drawing from the banquet’s 33 sponsors.
Courtney Green, a senior majoring in finance and economics and president of AIS, said the mayor will speak at the first event of the academic year for the organization about the city’s management of catastrophe risk with a focus on last year’s tornado.
William Rabel, professor of insurance and financial services and advisor for AIS, said proper risk management is vital for minimizing the damage a catastrophe can wreak on a community.
“Most people realize that businesses manage risks but forget that municipalities and other government agencies also face enormous risks that need to be managed,” Rabel said. “Fortunately, Tuscaloosa is among the best municipalities when it comes to managing risk.”
Rabel said AIS is pleased and honored that Maddox will discuss the risk management process.
“Not only will it provide valuable knowledge about an essential service our city provides for us, but it will also give important background that can be used when our students assume leadership positions in communities wherever they settle,” Rabel said.
AIS is a non-profit organization open to all students interested in careers in insurance, financial services and risk management. It allows students to interact with professionals and leaders of the insurance world and to connect with other students in the same area of interest through monthly meetings, according to Green.
In October, the organization will take part in Alabama Insurance Day, or I-Day, which hosts speaker sessions, including the risk manager for NASCAR and Kevin Elko, a renowned performance consultant. AIS members will be able to attend the program free of charge.
“We have a history of amazing, high-profile speakers,” Green said. “Our March meeting last semester had Mr. C. Robert Henrikson, the former CEO and President of MetLife, the largest insurance company in the country.”
This year the AIS will also focus on issues of healthcare, investment risk management, commercial insurance and intellectual property risk management.
