MHA Consulting

FEBRUARY 9, 2023

Risk transference is one of the four main strategies organizations can use to mitigate risk. Try a Dose of Risk Management Wise organizations determine how much risk they will accept then make conscious efforts to bring their risk down below that threshold.

Insurance 98

Insurance Insurance Outsourcing Mitigation 98

Disaster Recovery Journal

OCTOBER 23, 2020

But that was my unofficial designation when I worked for the largest insurance broker in the world some 20 odd years ago. I was explaining the installation of window breakers and door locks to improve their safety in the event of an active shooter. Looking back, these were team-bonding activities and happy moments with my son.

Disaster Recovery 214

Disaster Recovery Risk Management Emergency Response Emergency Response 214

Risk Management Monitor

OCTOBER 25, 2022

Inflation’s Impact on the Insurance Market. In light of current economic conditions, the directors and officers (D&O) insurance market is now facing several notable inflationary risks. With high unemployment and higher costs, this also poses a risk to employment practices liability (EPL) insurers.

Insurance 40

Insurance Insurance Risk Management Management 40

FS-ISAC

NOVEMBER 8, 2021

We chase concepts that seem simple, such as "basic" network hygiene, asset management, and patching. But these approaches rely on tenets based on traditional operational and financial risk management. While “close enough” works in asset management for financial inventory, it can quickly prove useless in cybersecurity.

Risk Management 59

Risk Management Management Audit Asset Management 59

MHA Consulting

MARCH 14, 2024

In today’s post, we’ll take a look at how organizations can get started using Enterprise Risk Management (ERM) to reduce their exposure and improve their resilience. It helps organizations reduce risk, outages, impacts, and costs, such as insurance costs. ERM is all about reducing. ERM also increases a few things.

Risk Management 52

Risk Management Management All-Hazards Mitigation 52

LogisManager

OCTOBER 12, 2021

What Is Risk Management? The world will always be filled with uncertainty and with uncertainty inevitably comes risk. Risk management, in its simplest form, is assessing the possibility of something bad happening; i.e. “If I take this action, will it result negatively?”. What Is Risk Management?

Risk Management 52

Risk Management Management Insurance Insurance 52

Risk Management Monitor

DECEMBER 8, 2022

If your organization operates or could be sued in New York, there has been recent activity on the legal and regulatory risk landscape that risk professionals should be prepared for. What are the New York Disclosure Law’s requirements and how do they impact your insurance program?

Insurance 49

Insurance Insurance Alert Risk Management 49

Reciprocity

NOVEMBER 5, 2021

Hence cyber insurance has become a lucrative product for insurance companies, and a must-have for businesses that want to offset the costs of attack-inflicted damage. What Is Cyber Insurance and Why Do You Need It? Cyber insurance costs can vary due to a number of factors. What You Need to Know About Cyber Insurance.

Insurance 52

Insurance Insurance Management Internet 52

Reciprocity

MARCH 24, 2022

Vendor risk management (VRM), a part of vendor management, is the process of identifying, analyzing, monitoring, and mitigating the risks that third-party vendors might pose to your organization. Third-party risk management begins with due diligence before signing a contract, as with any risk management program.

Risk Management 52

Risk Management Management Audit Cybersecurity 52

Reciprocity

OCTOBER 8, 2024

Risk management is arguably the most effective way to navigate uncertain circumstances. That said, not everyone can handle the time and resource commitments associated with traditional risk management processes. If this is you, building an automated risk management program may be the wiser course.

Risk Management 52

Risk Management Cybersecurity Management Alert 52

Reciprocity

OCTOBER 8, 2024

Risk management is arguably the most effective way to navigate uncertain circumstances. That said, not everyone can handle the time and resource commitments associated with traditional risk management processes. If this is you, building an automated risk management program may be the wiser course.

Risk Management 52

Risk Management Cybersecurity Management Alert 52

Reciprocity

MARCH 28, 2022

Enterprise risk management is critical for business success. The fundamental components of ERM are evaluating significant risks and applying adequate responses. Additional important ERM components are risk philosophy or strategy, risk culture, and risk appetite. Two ERM Must-Haves.

Risk Management 52

Risk Management Management Mitigation All-Hazards 52

Risk Management Monitor

SEPTEMBER 21, 2021

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. Spotting problem areas and opportunities sooner makes it easier to develop and implement steps to reduce risk pre-loss and better control costs post-loss.

Insurance 75

Insurance Insurance All-Hazards Hazard 75

Reciprocity

AUGUST 18, 2022

Enterprise risk management (ERM) is critical for success in the modern business landscape. 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.

Risk Management 52

Risk Management Management Mitigation Strategic 52

LogisManager

OCTOBER 19, 2023

Additionally, there will be an over-arching requirement for these banks to adopt the 3 Lines of Defense Risk Management Strategy. What Changes Can Banks Expect When delving into some of the specific changes banks can expect to see, the frequency of risk appetite statements will come into focus.

Banking 98

Banking Corporate Governance Audit Risk Management 98

Reciprocity

NOVEMBER 5, 2021

The modern corporate organization faces a host of risks that can affect operational efficiency and regulatory compliance. Simple awareness is not enough to stay ahead of these risks. You must find ways to manage, mitigate, accept, or transfer these risks. Here’s where enterprise risk management (ERM) comes in.

Risk Management 52

Risk Management Management Audit Strategic 52

Fusion Risk Management

JULY 29, 2021

Getting people to care about protecting against things that seem unlikely is a constant challenge for many risk managers, but with branding and tailored communications that focus on storytelling, customer demand for your program can build.

Risk Management 52

Risk Management Management Crisis Management Communications 52

MHA Consulting

MARCH 2, 2023

Residual Risk There are two main kinds of risk when it comes to organizational activities and business continuity: inherent risk and residual risk. Inherent risk is the danger intrinsic to any business activity or operation. A related but higher level concept is that of risk mitigation strategies.

Mitigation 95

Mitigation BCM Acceptable Risk Risk Management 95

Disaster Recovery Journal

OCTOBER 23, 2020

But that was my unofficial designation when I worked for the largest insurance broker in the world some 20 odd years ago. I was explaining the installation of window breakers and door locks to improve their safety in the event of an active shooter. Looking back, these were team-bonding activities and happy moments with my son.

Disaster Recovery 130

Disaster Recovery Risk Management Emergency Response Emergency Response 130

Risk Management Monitor

FEBRUARY 2, 2023

To that end, the National African American Insurance Association (NAAIA) recently updated its research on its members’ experiences and challenges in the insurance industry, releasing the new study The Next Steps on the Journey: Has Anything Changed?

Insurance 40

Insurance Insurance Activation Evaluation 40

NexusTek

OCTOBER 8, 2024

Incident 1: Malicious Web Browser Update A large insurance company with a nationwide presence was the victim of a ransomware attack that began with a social engineering scheme. Should threat actors navigate past these barriers, solutions that can detect malicious activity and limit access within your network (e.g.,

Cybersecurity 98

Cybersecurity Backup Authentication Insurance 98

Reciprocity

MARCH 3, 2025

Schedule a demo to see how ZenGRC can strengthen your healthcare vendor risk management program. When third-party vendors gain access to PHI, that trust extends to them as well, making robust vendor risk management not just a regulatory requirement, but an ethical imperative.

Healthcare 52

Healthcare Management Risk Management Audit 52

Risk Management Monitor

MARCH 4, 2022

A wide range of risks are trickling down from Russia’s assault on Ukraine , from sanctions compliance to supply chain disruption to business interruption. Concerns about escalating cyber activity around the crisis are a vivid reminder of the importance of knowing your threat model and adjusting your risk management priorities accordingly.

Management 56

Management Malware Cybersecurity Insurance 56

NexusTek

FEBRUARY 8, 2023

Incident 1: Malicious Web Browser Update A large insurance company with a nationwide presence was the victim of a ransomware attack that began with a social engineering scheme. Should threat actors navigate past these barriers, solutions that can detect malicious activity and limit access within your network (e.g.,

Cybersecurity 98

Cybersecurity Backup Authentication Insurance 98

Fusion Risk Management

SEPTEMBER 12, 2022

Even if it is difficult to use that regulatory hammer to secure funding for budget to purchase technology, this should not stop a progressive organization from using effective risk management disciplines to run their programs and serve their customers. Ability to Procure Cyber Insurance.

Resilience 52

Resilience Insurance Insurance Outsourcing 52

Risk Management Monitor

JUNE 13, 2023

“The upcoming Atlantic hurricane season is expected to be less active than recent years, due to competing factors—some that suppress storm development and some that fuel it—driving this year’s overall forecast for a near-normal season,” NOAA reported. Update your current disaster recovery plan. Do a dry run.

Disaster Recovery 40

Disaster Recovery Insurance Insurance Emergency Response 40

Plan B Consulting

SEPTEMBER 11, 2016

Diverse Sites – the activity is carried out at two sites 2. Subcontract – this is where the activity affected by the incident, is carried out by a third party 5. Insurance – using insurance to cover any losses 6. Insuring any network connectivity or utilities into site are duelled 6. These are: 1.

Resilience 52

Resilience Manufacturing Insurance Insurance 52

Plan B Consulting

SEPTEMBER 11, 2016

Diverse Sites – the activity is carried out at two sites. Subcontract – this is where the activity affected by the incident, is carried out by a third party. Insurance – using insurance to cover any losses. Insuring any network connectivity or utilities into site are duelled. These are: 1.

Resilience 52

Resilience Manufacturing Insurance Insurance 52

everbridge

OCTOBER 7, 2024

Here are the key takeaways: The Tiers Of Resilience Starting Out The most basic level of planning is risk management, which refers to activities that organizations undertake to prevent, anticipate, and avoid a disruption. Businesses have been conducting risk management, at various levels of sophistication, for decades.

Resilience 52

Resilience Risk Management Authorization Continuity Planning 52

Erwood Group

OCTOBER 27, 2020

Not just during an activation of the plan itself, which may keep the business from suffering substantial losses, but even during times of normal business operations. The first and most obvious to many is that business continuity planning helps organizations obtain reduced premiums on insurance.

Business Continuity 59

Business Continuity Continuity Planning Insurance Insurance 59

Reciprocity

SEPTEMBER 30, 2022

Third parties generate, manage, or hold this data, resulting in even more severe threats to healthcare organizations and their information security. This is why third-party risk management and healthcare data security are critical. What is Healthcare Vendor Risk Management? Notes on Vendor Access et. Access to PII.

Healthcare 52

Healthcare Management Vulnerability Risk Management 52

Risk Management Monitor

JUNE 17, 2022

Assess Antivirus and Endpoint Detection and Response Programs Traditionally, antivirus programs have helped detect malicious activity. By employing an endpoint detection and response (EDR) product, organizations create an efficient response to detecting malicious programs and activities based on network anomalies rather than signatures alone.

Alert 76

Alert Cybersecurity Activation Asset Management 76

Reciprocity

APRIL 4, 2022

Hence cybersecurity risk management is crucial to prevent and mitigate cyber threats. To combat those threats, businesses need to develop digital risk management. We can define that as the processes used to assess, monitor, and treat the risks that arise from the digital business processes that are so common today.

Mitigation 52

Mitigation Malware Cybersecurity Media 52

Fusion Risk Management

AUGUST 12, 2024

The Third-Party Threat There seems to have been a lot of confusion around how to classify this incident; some see it as a digital or cyber issue, attempting to claim on their cyber insurance. Whilst security is a pillar of resilience, resilience is a broader and more practical framework for managing a business and its risks.

Outage 52

Outage Airlines Outsourcing Insurance 52

Advancing Analytics

AUGUST 26, 2021

Besides that, the financial industry is a vast sector that includes banks, building societies, e-money institutions, mortgage companies, investment banking, credit unions, insurance and pension companies. Interestingly, the insurance sector has 100% live machine learning applications in use. Risk Management.

Financial Services 52

Financial Services Banking Insurance Insurance 52

Plan B Consulting

MAY 16, 2023

First and foremost, those organisations who use business continuity as a ‘tick box exercise’, or as a requirement from their insurance company need to start truly embedding Business Continuity into business-as-usual activities as soon as possible. Then we come to the more traditional Business Continuity and risk management solutions.

Fashion 52

Fashion Business Continuity Insurance Insurance 52

Reciprocity

AUGUST 15, 2022

The Federal Deposit Insurance Corp. The OCC also cautioned against interest rate risks, operational risks (again, heightened because of COVID-19), increased cybersecurity risks, compliance risks related to the Bank Secrecy Act (BSA), consumer compliance issues, and fair lending as areas of concern.

Management 52

Management Audit Banking Media 52