Unformatted text preview: Immediately after the
crash, a disaster ollice was set up onsite, and counsel,ors were hired to care
for circus employees, their depen
dents and animals. Mr. Feld, other
senior company executives. Ringling’s
risk manager. 100 other company
managers. adjusters and outside con
sultants were at the scene within 24
hours to help performers and their
families deal with any trauma they
may have suffered. Within 72 hours
of the accident, all personal property
claims were settled, and the show was
already back on the road.
Since the accident was the first
train-related fatality due to a derail
ment at Ringling in more than 100
years. the company is convinced that
trains remain the safest way to trans
port its unique cargo of people. ani
maLs and circus magic. This convic
tion is based on the belief that if
Ringling tried to transport the circus
over the road in tracks, the potential
for accidents ‘would be far greater.
Nevertheless, the accident demon
strated that a crisis can strike at any time, thereby pointing out the necessi
tyfor a sound business continuity
For Ringling, running a business
with such a diverse array of exposures
is a chaLlenge that requires a corpo
race.wide commitment to safety and
risk management. Since R.ingling’s
upper management provides this
commitment, the company has been able to maintain highly safe operations
that have aLso resulted in significant
insurance cost reductions. These sav
ings encompass all of Ringlings oper
ations. including its two circuses, sev
eral traveling Lce shows and a hightech Las Vegas show. In regard to risk
management, then, Ringling Bros. and
Barnum and Bailey Circus does not
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This note was uploaded on 04/04/2014 for the course RMI 2101 taught by Professor Gary during the Fall '10 term at Temple.
- Fall '10