Risk Management

June 5, 2023

12 Tips to Promote Workplace Safety and Prevent Employee Injuries

Workplaces have gotten safer for employees over the years. However, accidents can still happen. When they do, they cost businesses thousands of dollars in medical expenses, undermine productivity and employee morale, and increase employee absenteeism. To help prevent the risks of workplace injuries, businesses can follow these 12 tips: 1) Create a Comprehensive Workplace Safety...

June 2, 2023

Is My Computer Setup Ergonomically Correct?

Whether we are back at the office or working from home, we often slip into bad office posture habits when it comes to how we work at our computers. The Mayo Clinic offers advice on how to set the proper positioning when using a computer in order to up y avoid some of the health...

May 31, 2023

Contractual Risk Transfer Explained

Contractual risk transfer (CRT) is a risk management mechanism that can be utilized by many businesses. It involves shifting potential liability through a non-insurance contract or agreement and is intended to transfer risk to the party (e.g., vendor, supplier, subcontractor) that is better situated to control it. While insurance is the most common method to...

May 25, 2023

Why Risk Control Will Always Need the ‘Human Touch’

Technology is changing the way the insurance industry is able to perform everyday tasks, but it will never overshadow the necessary human element required for business, an insurance industry VP has told Insurance Business. “You can’t really replace the human touch,” Christine Sullivan, the senior vice president of risk control for North America at Sompo, said....

Complex Property Risks Create Challenging Market

Economic, social and environmental trends are combining to create significant risks and challenges for property owners and their insurers. Across industries, from manufacturing to real estate to healthcare, some of the same themes are present. These include changing valuations of physical assets and higher replacement costs, supply chain issues, and contingent time element exposures. Supply...

May 16, 2023

June is National Safety Month

June is National Safety Month. This month highlights efforts that can prevent injuries and death inside and outside the workplace, helps provide learning opportunities for employees, allows employers to share their safety pride and gives employees the opportunity to pledge they will work safely. Preventable injury-related deaths are the fourth leading cause of death in...

May 10, 2023

Data Privacy Lawsuits Nearly Doubled in 2022

Data breach litigation ramped up significantly in 2022, with more filings overall and filings in smaller data privacy events, according to BakerHostetler’s annual Data Security Incident Response Report. The law firm tracked a five-year trend showing a higher percentage of events resulting in at least one lawsuit—from four lawsuits out of 394 in 2018 up...

May 9, 2023

Nonprofit Sector Trends to Watch

Nonprofit organizations operate to fulfill their missions, benefit the community and serve the public. They are essential for maintaining a thriving society and contribute greatly to health care, higher education, environmental stewardship, human services, religious services, arts and culture, and other vital services. However, in the months and years ahead, the nonprofit sector could face...

May 3, 2023

OSHA Starts a National Emphasis Program to Prevent Falls

On May 1, 2023, the U.S. Department of Labor announced that OSHA started a National Emphasis Program (NEP) to prevent falls. OSHA states that falls continue to be the leading cause of fatal workplace injuries and one of the most frequently cited OSHA violations in the construction industry. The NEP went into effect on May...

April 27, 2023

Business Risks in an Economic Downturn

Without a thorough evaluation of its business model, any manufacturer can be severely threatened by an economic downturn. While devising creative solutions to keep your business running despite unfavorable economic conditions, keep in mind that changes to your business can result in new liability exposure. Supply Chain Risks It’s no secret that the financial security...