This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
As a reminder, risk management is the process of understanding the hazards facing an organization and taking steps to bring them to within a level determined to be acceptable by the senior leadership. It’s a permanent ongoing activity. It’s not about eliminating risk completely but managing it in a rational, informed way.
With the cost of insurance for businesses rising across many types of coverage, staying on top of trends in the claims portfolio is more important than ever. For this reason, many insurers and TPAs promise to conduct claims reviews with their business customers on a regular basis, but the rigor can vary greatly.
Hurricanes are powerful storms that bring life-threatening hazards to people living in both coastal and inland communities. Though you may first think of wind when envisioning a hurricane, water hazards are historically the deadliest. Regardless of your route make sure that your destination provides protection from hurricane hazards.
Enterprise Risk Management is the activity of identifying and mitigating the hazards that threaten an organization (definition from Strong Language: The MHA Glossary of Essential Business Continuity Terminology , available for free download with registration). ERM is all about reducing. It all comes down to details.
To determine your organization’s risk appetite (the amount of risk it is willing to accept to realize its objectives), you need consensus from leadership and all stakeholders. The aim of this framework isn’t to eliminate all risk but to ensure that the organization makes smart risk decisions that retain and increase enterprise value.
NFPA has been committed to addressing potential fire hazards posed by EVs for some time, offering in-person and online trainings that teach first responders how to safely and effectively mitigate EV incidents. To date, NFPA has helped educate more than 300,000 first responders on this emerging hazard.
As we head into one of the hottest months of the year, daily news reports continue to broadcast stories of record high temperatures and severe drought conditions, both contributing factors to the increased wildfire activity spreading across the U.S. The increased funding for hazardous fuel in the Bipartisan Infrastructure Law, the U.S.
For small businesses, it is common to have just one all-encompassing plan. One important thing to know is that the Business Continuity Plan should contain all the information required to implement the processes and strategies to perform the business functions contained in the plan. Plan Activation. Insurance Contact Information.
Response measures are effective when activated and executed promptly and without delay. Fill all vehicles to more than half their fuel capacity during the hurricane season. Purchase insurance for your property, including coverage that protects against flood damage. Make sure that evacuation kits contain all the essential items.
More specifically, within digital risk management are the active measures that businesses can take to protect their assets: digital risk protection. DRP is the active piece of the cybersecurity puzzle, and is an imperative for every organization. What is Digital Risk Protection? Third-Party Risk. Technology. Identification.
Controlling business costs is top-of-mind for organizations of all sizes and can take many forms, from moving the business to a less expensive building in a more economical part of town to cutting advertising costs. During their time together, the veteran employee can discuss safety concerns and identify potential hazards.
What are the ways in which you meet specific requirements for protecting business travelers, including security training and preparation, kidnap and ransom insurance, and evacuation protocols? We pull all this information together and provide a recommendation on the appropriate level of security for that individual.
Your ERM program should encompass all aspects of risk management and response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters. Passing or sharing the risk via insurance, joint venture, or another arrangement. Risk Response.
Your enterprise risk management (ERM) program – one that encompasses all aspects of risk management and risk response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters – should involve strategic, high-level risk management decision-making.
Over 400 fires have caused roughly 10 million acres of burn damage so far, and have blanketed a wide swath of North America in smoke, creating orange skies and toxic levels of air pollution for communities all the way from Canada to the Southeastern United States. There are fires in nearly all of Canada’s provinces.
They may be contaminated by agricultural or industrial chemicals, or hazardous agents. It is important to photograph and document all damage and notify your insurance agent as soon as possible. Similarly, avoid wading in floodwaters. Then you can proceed to make temporary repairs to protect the building and its contents.
All aspects of Business Continuity, including planning, training, stress testing and exercising of Business Continuity Plans will be seen as a priority. An impacts-oriented all-hazards approach will be worthwhile planning going forward (as it has been in the past). We are all experiencing extreme turbulence and its here to stay.
All aspects of Business Continuity, including planning, training, stress testing and exercising of Business Continuity Plans will be seen as a priority. An impacts-oriented all-hazards approach will be worthwhile planning going forward (as it has been in the past). We are all experiencing extreme turbulence and its here to stay.
Compliance programs are not one-size-fits-all. At worst, you’ll have no program at all. Try to find and understand them all. Employees at all levels must grasp your compliance program’s expectations and requirements to comply. Establish two-way communication at all levels.
It’s also a question that comes up all the time. I like to keep things simple, so the above is the simplest of all the definitions out there. One client recently obtained a $500 Million dollar increase in insurance coverage with zero increase in premium costs. Risk management is important to all businesses.
Disaster’ refers to an event that causes damage, destruction, interruption of services and important activities, and possibly casualties. Safety’ refers to protection against major hazards such as storms, floods and industrial explosions. Security’ involves protection against major threats, such as terrorist activity.
Business Continuity Planning Guide for Smaller Organizations Last Updated on June 4, 2020 by Alex Jankovic Reading Time: 26 minutes We all live in an unpredictable world. BCP requires collaboration across the entire organization and the participation of all business units and departments. Business Continuity is not a data backup.
We all live in an unpredictable world. Business Continuity should be one of the top priorities for all organization leaders, and response plans should be implemented in organizations of all sizes. BCP requires collaboration across the entire organization and the participation of all business units and departments.
We organize all of the trending information in your field so you don't have to. Join 25,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content