risk management
December 14, 2022
It’s a Wrap: Key Issues Insurers Faced in 2022
Insurers faced some tough challenges in 2022, including a few that threatened their very existence. Astronomical jury verdicts, AI deep fakes, seemingly unending numbers of claims seeking compensation for coronavirus business shutdowns — more than a few industry lawyers spent sleepless nights beating back litigation that targeted the very core of the industry’s stability. Here’s...
December 13, 2022
A Look at Cybersecurity in 2022 and Into 2023
As the year comes to an end, it only feels natural to reflect upon the 2022 landscape overall regarding cybersecurity and look ahead at what may come in 2023. The year had its ups and downs, and frankly, due to the increase in bad actors there were more downs than ups. The healthcare industry was...
December 8, 2022
Businesses Advised to Review D&O, Other Policies for ESG Risks
Businesses should review their directors and officers liability insurance and other policies to better understand how they would protect them from a widening array of claims arising from environmental, social and governance risks, a panel of experts said Wednesday. Heightened SEC enforcement actions against investment advisers, on whistleblower tips, and on company disclosures, show the...
October 17, 2022
Insuring the Climate Transition: 3 Ways Severe Weather Is Increasing Environmental and Pollution Liability
This August, as Death Valley experienced a 1,000-year rain event, all Steve Tagert could see were the pollution risks. In a matter of hours, nearly a year’s worth of rain poured from the sky. The desert park experienced flooding and road closures. Portions of Highway 190 in California had to be shut down. Tagert, who is...
October 11, 2022
5 loss prevention methods for construction clients
Tools and equipment used on construction sites are often subject to theft and vandalism — creating project delays and impacting costs. Over time, multiple claims may also increase insurance premiums. While not every loss can be prevented, there are improved methods for safeguarding construction equipment that go beyond fences and standard locks. When creating a...
October 3, 2022
Inflation Rising. How Workers’ Comp Premiums Will Fare
Runaway inflation has become the economic drumbeat that keeps getting louder as election midterms approach in November, but in the workers’ compensation sector, executives see an improved picture on the horizon for both medical and wage inflation — despite the multi-decade high in the consumer price index straining families’ wallets and patience. As employers ratchet...
September 12, 2022
Small businesses are at risk for cyberattacks. Here’s how to address them.
Small businesses are often prime targets for cybercriminals because of the sensitive information stored in their databases. They also commonly lack proactive measures to fight against cyberattacks. According to the Small Business Administration, 88% of small business owners feel their company is not prepared for a cyberattack. Cyberattacks can shut down businesses for more than 24 hours and can...
August 29, 2022
What are the top five risks businesses should be prepared for?
National Preparedness Month, recognized every September, serves as an annual reminder for businesses to ensure they’re ready for any kind of disruptive event. Whether it’s fires, floods, cyberattacks or inflation, companies of any size stand to lose greatly if they’re not prepared for the risks that threaten their businesses. “The reality is that businesses are...
August 22, 2022
Mitigating risk & reducing employee claims for commercial clients
According to Dun & Bradstreet, in Q2 2022, the Global Business Impact (GBI) score increased to 315, up from 297 in Q1 2022. The GBI ranks the biggest threats to business based on each risk scenario’s potential impact on companies, assigning a score to each risk. As businesses continue to acknowledge the rising risk landscape, it is...
How to manage risk around massive data growth
One of the most prominent challenges facing global businesses today surrounds the deluge of massive data growth and the risk it presents to companies as the management issues of this data take shape. This risk comes in several major forms, including the legal/regulatory exposure from investigations and litigation, ongoing cybersecurity vulnerabilities and unsustainable increased spend on its...