Risk Management
March 13, 2024
A Fight for Capital and Capacity – Emerging Risks in the Construction Sector
The construction industry is facing a unique set of challenges in today’s market, leading firms to seek innovative solutions to manage risk effectively. James MacNeal, global industry specialty leader, construction and infrastructure at Aon, highlighted the evolving landscape of risk transfer in the construction sector, emphasising the significance of alternative strategies like parametric insurance and captives...
March 7, 2024
Cybersecurity Tips for Tax Season
Tax season cybercrime is becoming more common, with an increase in tax fraud issues from February to April — prime tax season. Business email compromise and phishing attempts are widespread during these months. Small businesses send and receive a significant amount of financial and confidential information to their accountants or tax preparers. This type of...
February 29, 2024
The Human Firewall: How Employees Can Find Empowerment in the Fight Against Cybercrime
You’ve been hacked. It’s a sentence that can stop any organization dead in its tracks. And the potential of a breach has cemented itself as one of the most devastating risks an organization could endure. An estimated 2,200 cyberattacks occur each day, equivalent to one attack every 39 seconds. This surge in cybercrime carries an astronomical...
February 26, 2024
What is Compounding Risks in the Construction Sector?
The construction industry faces several emerging risks in 2024, including supply chain disruptions reminiscent of those faced in 2020 due to geopolitical tensions in the Red Sea. Combined with ongoing economic challenges, construction businesses should expect increased costs and plan meticulously to minimize project delays, an expert told Insurance Business. “I would hazard to say almost...
February 13, 2024
Debunking 5 Common Cybersecurity Myths
Also known as IT security, cybersecurity refers to the act of safeguarding internet-connected systems, critical data and other digital assets from potential cyberthreats—threats that may attempt to exploit sensitive information, steal funds or disrupt normal business operations. In other words, cybersecurity consists of the strategies implemented to help protect people, processes and technology from cyberattacks...
February 12, 2024
Types of Transitional Duties in Return-to-Work Programs
When an employee experiences an occupational illness or injury, their eventual return to the workplace can create considerable challenges, putting significant stress on both the individual and their employer. Nevertheless, return-to-work (RTW) programs can help alleviate these concerns by supporting staff as they reintegrate into the workforce. These programs may entail having an injured employee...
February 6, 2024
OSHA Proposes to Issue a New Emergency Response Standard
On Feb. 5, 2024, OSHA published a notice of proposed rulemaking (NPRM) to issue a new safety and health standard, titled Emergency Response, to replace the existing Fire Brigades standard. The new standard would address a broader scope of emergency responders and include programmatic elements to protect emergency responders from various occupational hazards. OSHA requests...
January 25, 2024
Tailgating and Piggybacking
Tailgating and piggybacking are low-tech tactics used by malicious actors to enter secure areas. They occur when an unauthorized person gains physical access to a location with sensitive information or vulnerable IT equipment. These intrusions can have significant financial and reputational impacts on businesses, so it is essential for companies to take measures to prevent...
January 23, 2024
Best Practices for Return-to-Work Programs
One of the biggest components of workers’ compensation is an effective return-to-work (RTW) program. Eliminating injuries and illnesses is paramount for reducing workers’ compensation costs, but after an incident, an RTW program can significantly reduce workers’ compensation costs for employers and improve the lives of employees by getting them back to work when there is...
January 11, 2024
California Will Require Employers to Develop Workplace Violence Prevention Programs
On Sept. 30, 2023, California adopted Senate Bill 553 (SB 553), a bill that requires employers to establish a workplace violence prevention plan (WVPP), document incidents of workplace violence and train employees on how to identify workplace violence hazards by July 1, 2024. Affected Employers SB 553 applies to California employers. State law defines “employer”...