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

Solutions Review

JANUARY 19, 2024

In this article, we delve into the top five things we have – hopefully – finally learned about ransomware in 2023, shedding light on the evolving tactics employed by cybercriminals, the shifting dynamics in the cyber insurance industry, and the pressing need for a robust recovery strategy.

Insurance 72

Insurance Insurance Disaster Recovery Backup 72

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. Our aim in this article is not to place blame, but to highlight the valuable lessons that other businesses can learn from these real-life incidents.

Cybersecurity 98

Cybersecurity Backup Insurance Insurance 98

Pure Storage

MARCH 21, 2024

Meanwhile, the hospitals, physicians, and pharmacies affected by the attack are still struggling to resume normal operations and generate revenue. That long-forgotten server with outdated software sitting in your hospital basement? UnitedHealth Group does not need to imagine this scenario.

Healthcare 97

Healthcare Hospitality Architecture Cybersecurity 97

Pure Storage

APRIL 11, 2022

Read this Q&A with a healthcare CIO to learn how hospitals can combat ransomware. When caregivers are paid by insurers based on outcomes, organizations must rely on smart, effective use of data. Healthcare data is exploding, but AI can help organizations keep up—and be proactive with predictive care.

Healthcare 98

Healthcare Technology Hospitality Internet 98

Pure Storage

AUGUST 19, 2022

Smart Digital Sales and Holding GmbH (SDSH) provides drone services and analytics to customers in agriculture and forestry, surveying, insurance, public safety, and disaster control. It’s helping hospitals, universities, labs, and others stay ready for unstructured data as it grows in volume and importance.

Healthcare 19

Healthcare Hospitality Insurance Insurance 19

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. Our aim in this article is not to place blame, but to highlight the valuable lessons that other businesses can learn from these real-life incidents.

Cybersecurity 98

Cybersecurity Backup Insurance Insurance 98

Pure Storage

AUGUST 25, 2021

Hospital officials said the costs of getting the hospital’s computer systems back up and running were about $10 million. The attackers requested a ransom of $30,000, which the hospital did not pay.) Increased insurance premiums (or possible cancellation). Confirm what your cyber insurance covers—and what it doesn’t.

Hospitality 59

Hospitality Insurance Insurance Backup 59

FEI

JUNE 23, 2021

I often lead crisis management drills for one of our customers in the hospitality industry. Consider business interruption insurance. This is a type of insurance that covers the loss of income that a business suffers after a disaster. It wasn’t just small business that took a major hit during the pandemic.

Business Continuity 59

Business Continuity Pandemic Crisis Management Insurance 59

MHA Consulting

MARCH 21, 2024

In today’s post, we’ll look at the measures hospitals and other facilities that care for patients can and should take to improve their resilience in the face of the rising threat. medical infrastructure was subject to what the American Hospital Association called “the most significant and consequential cyberattack on the U.S.

Healthcare 52

Healthcare Hospitality Resilience BCM 52

Solutions Review

SEPTEMBER 9, 2021

The industries Resolver serves include banking and financial services, healthcare and hospitals, insurance, academic institutions, critical infrastructure organizations, airports, utilities, hospitality, government, and more.

Risk Management 98

Risk Management Management Audit Hospitality 98

Solutions Review

SEPTEMBER 27, 2021

The industries Resolver serves include banking and financial services, healthcare and hospitals, insurance, academic institutions, critical infrastructure organizations, airports, utilities, hospitality, government, and more.

Government 92

Government Audit Risk Management Hospitality 92

Risk Management Monitor

DECEMBER 20, 2022

In these cases, a worker may intentionally fake an injury (claimant fraud) or a business owner may misrepresent their employee headcount or incorrectly classify employees to obtain lower insurance premiums. Workers compensation insurance provider fraud has become a multi-billion-dollar industry that is bad for business.

Insurance 40

Insurance Insurance Evaluation Hospitality 40

Plan B Consulting

SEPTEMBER 11, 2016

Insurance – using insurance to cover any losses 6. Where there are large expensive bits of equipment such as CAT scanners in hospitals, although there may be others in the country it may be very difficult for patients to go to another location. Insuring any network connectivity or utilities into site are duelled 6.

Resilience 52

Resilience Manufacturing Insurance Insurance 52

Plan B Consulting

SEPTEMBER 11, 2016

Insurance – using insurance to cover any losses. Where there are large expensive bits of equipment such as CAT scanners in hospitals, although there may be others in the country it may be very difficult for patients to go to another location. Insuring any network connectivity or utilities into site are duelled.

Resilience 52

Resilience Manufacturing Insurance Insurance 52

Online Computers

FEBRUARY 16, 2022

Health Insurance Portability and Accountability Act of 1996 (HIPAA) compliance is a complex — but necessary — process for healthcare businesses in the United States, including those in New Jersey. It protects all patient health data from being disclosed without their consent or knowledge.

Healthcare 52

Healthcare Hospitality Insurance Insurance 52

LogisManager

MAY 20, 2021

In recent years, these attacks have affected everyone from banks and hospitals to universities and municipalities; almost 2,400 organizations in the United States were victimized last year alone. The less prepared you are when responding to an incident, the more likely you’ll be forced into paying ransom.

Risk Management 64

Risk Management Management Authentication Hospitality 64

Pure Storage

MARCH 21, 2024

2024 has already seen ransomware gangs targeting health insurance and services companies and profiting from their exploits. That long-forgotten server with outdated software sitting in your hospital basement? This activity is not unexpected.

Healthcare 52

Healthcare Hospitality Architecture Cybersecurity 52

Pure Storage

APRIL 7, 2022

For instance, the Olive AI platform automates some of healthcare’s more repetitive and time-consuming tasks, such as insurance eligibility checks and processing unadjudicated claims. The tool analyzes a patient’s symptoms, then recommends one of two options: a virtual check-in with clinicians or an in-person visit at a hospital.

Healthcare 52

Healthcare Hospitality Command Center Banking 52

Pure Storage

FEBRUARY 24, 2022

Data and insights can help hospitals and other healthcare institutions better identify inefficiencies and performance issues, resulting in faster health care analysis for customers. These services are also used by airlines, insurance companies, agricultural agencies, transportation services, freight companies, and event organizers.

Healthcare 52

Healthcare Airlines Insurance Insurance 52

Reciprocity

SEPTEMBER 30, 2022

And that suffering now extends far beyond the potential for Health Insurance Portability and Accountability Act ( HIPAA ) regulatory non-compliance brought on by lost or stolen data; instead, the breaches affect healthcare organizations’ capacity to function and pose a risk to patient safety.

Healthcare 52

Healthcare Management Vulnerability Risk Management 52

everbridge

AUGUST 11, 2021

If injured on the job, it’s important to have plans to keep them safe amidst the already strained emergency services and hospitals. Other lone workers, such as delivery drivers or security guards, have seen an increase in demand, but now require new ways to keep them safe such as providing PPE.

Pandemic 52

Pandemic Travel Hospitality Vulnerability 52

Reciprocity

AUGUST 24, 2022

Organizations typically bought insurance to avoid the losses these risks could cause, thus “transferring” the risk to the insurance company. Not long ago, risk managers concerned themselves mainly with hazards such as fires and floods; or in the financial sector, loan defaults (credit risk).

Risk Management 52

Risk Management Audit Insurance Insurance 52

Reciprocity

APRIL 4, 2022

These frameworks include: NIST Cybersecurity Framework ( NIST CSF ); Center for Internet Security (CIS) Controls; Cloud Security Alliance Cloud Controls Matrix (CSA-CCM); Payment Card Industry Data Security Standard (PCI-DSS); Health Insurance Portability and Accountability Act (HIPAA); ISO 27701 , a framework to protect personally identifiable information, (..)

Mitigation 52

Mitigation Malware Cybersecurity Media 52

Reciprocity

AUGUST 18, 2022

Passing or sharing the risk via insurance, joint venture, or another arrangement. The two fundamental components of ERM are (1) the evaluation of significant risks, followed by (2) application of adequate responses. Those responses to risk include: Acceptance of a risk. Prevention or termination of a risk.

Risk Management 52

Risk Management Management Mitigation Strategic 52

Reciprocity

MARCH 28, 2022

The reactions to risk include: Acceptance or toleration of a risk; Prevention or termination of a risk; Passing or sharing the risk via insurance, joint venture, or another arrangement; Mitigating or reducing the risk by internal control procedures or other risk-prevention measures.

Risk Management 52

Risk Management Management Mitigation All-Hazards 52

Erwood Group

FEBRUARY 4, 2024

Disruptions can lead to financial losses, especially if billing processes are impacted, insurance claims are delayed, or operational inefficiencies arise. Financial Stability and Operational Integrity: Financial stability is intricately tied to the ability to maintain operational integrity.

Healthcare 45

Healthcare Business Continuity Resilience Continuity Planning 45

Reciprocity

MARCH 24, 2022

For example, the Health Insurance Portability and Accountability Act (HIPAA) and the Payment Card Industry Data Security Standard (PCI DSS) , among others, require vendor compliance. Here are some types of risks to look for. Do your vendors comply with applicable regulations and industry standards?

Risk Management 52

Risk Management Management Audit Cybersecurity 52

Reciprocity

JANUARY 12, 2023

If your organization has a presence in California or does business with California residents, then it most likely needs to comply with the California Consumer Privacy Act (CCPA). Enacted in 2020, the CCPA is a landmark privacy law in the United States with a long reach and tough regulatory obligations.

Audit 98

Audit Fashion Publishing Financial Services 98

Reciprocity

APRIL 4, 2022

Although people often use the words “assess” and “analyze” interchangeably, the terms are not synonymous in risk management. Each one has a specific meaning, and the distinction between the two is important. A risk assessment forms the backbone of your overall risk management plan.

All-Hazards 95

All-Hazards Mitigation Risk Management Hazard 95

Erwood Group

JULY 12, 2022

Insurance Contact Information. Local hospital numbers. Business Continuity Planning Committee. Plan Revision Tracking and Approval. Key Contact Information. Internal Contacts. External contacts. Key Vendor Contact Information. Other Key Service Provider Contact information. Risk Assessment Key Findings. Critical Recovery Timelines.

Continuity Planning 114

Continuity Planning Business Continuity BCP Disaster Recovery 114

Reciprocity

AUGUST 15, 2022

The Federal Deposit Insurance Corp. Ideally, your CMS is an integrated system to govern that program, which should include employee training, focused business processes, operational reviews, and corrective action strategies. FDIC), a primary U.S.

Management 52

Management Audit Banking Media 52

Reciprocity

DECEMBER 27, 2022

Managing all your governance, risk, and compliance (GRC) needs is no easy task.

Government 52

Government Audit Risk Management Disaster Recovery 52

Reciprocity

DECEMBER 19, 2022

Corporate compliance programs are to a company’s business operations; you are required by law to comply with various regulations (read: not optional), and a compliance program lets a company navigate those duties with more efficiency and discipline. The larger your organization grows, the more regulations and compliance burdens you encounter.

Audit 52

Audit All-Hazards Gap Analysis Healthcare 52

Reciprocity

OCTOBER 1, 2022

As organizations and businesses around the world and across industries migrate their IT to the cloud, C-suites are faced with a new dilemma for governance, risk management and compliance (GRC) solutions: cloud versus on-premise software.

Government 52

Government Internet Risk Management Audit 52

Reciprocity

SEPTEMBER 23, 2022

The California Consumer Privacy Act (CCPA) , heralded as the U.S. version of the European Union’s General Data Protection Regulation ( GDPR ), has many American companies overhauling their approach to privacy protection in data processing activities.

Government 52

Government Audit Activation Application 52

Reciprocity

AUGUST 24, 2022

Every risk management program should include risks posed by your vendors. Beware, however: vendor risk management is a complex process unto itself, requiring ongoing monitoring and measurement.

Management 52

Management Risk Management Cybersecurity Strategic 52