Remove Disaster Preparedness Remove Insurance Remove Risk Management
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Should You Revisit Insured Property Value Estimates?

Risk Management Monitor

One of the first steps in obtaining commercial property insurance is to determine the value of the property being insured. On the other hand, performing an appraisal (which insurers typically consider the “gold standard”) can provide much-needed accuracy and thoroughness, but will require a greater commitment of time and resources.

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Hurricane Risk Management: Key Considerations Before and After Storms Strike

Risk Management Monitor

The storm marks another overactive hurricane season officially underway in the United States, prompting business leaders and property owners to ensure they are adequately prepared from an insurance and risk management perspective. Before doing so, reach out to your insurance broker who can help guide you through this process.

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RIMS ERM Conference 2021: Lloyd’s Chairman on the Vital Role of Risk Management in Fighting Climate Change

Risk Management Monitor

With climate change quickly becoming one of the most important issues facing the world, Lloyd’s Chairman Bruce Carnegie-Brown stressed the importance of ESG initiatives to address the threat, as well as the vital role of risk managers, in today’s keynote address at the RIMS ERM Conference 2021 in New York City.

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Unprecedented Wildfires Devastate Canada, Leave Eastern U.S. Blanketed in Smoke

Risk Management Monitor

For businesses, take this as a reminder to examine how your organization will handle fallout from wildfires, for example, reviewing your property insurance, business interruption coverage, disaster recovery plans or emergency communications procedures.

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The 2023 Hurricane Season Outlook

Risk Management Monitor

Normal 0 false false false EN-US X-NONE X-NONE Normal 0 false false false EN-US X-NONE X-NONE As the hurricane season gets underway, the following tips can help businesses update and strengthen natural disaster recovery plans: Review your business interruption insurance. Update your current disaster recovery plan. Do a dry run.

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Tornadoes Devastate Midwest and Southern States

Risk Management Monitor

While Karen Clark & Company has estimated that the insured loss from the tornado outbreak will be about $3 billion, and credit rating agency Fitch predicted that losses would total $5 billion, Dr. Joel N. Businesses and risk professionals should prepare now for more frequent and intense weather events.

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Recovery in the Aftermath of a Hurricane

Risk Management Monitor

Once the property is deemed safe by local officials, specially trained recovery teams in appropriate personal protective equipment can help assess the damage and work with management to implement an action plan to safely get your business back up and running. Preparing for the Future.