When cyber attacks on hospitals threaten effective medical care, which party is responsible for patients’ outcomes? Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk. Subscribe to Insights As the number of cyber breaches continues to skyrocket, impacting companies of all sizes and across industries, hospitals – providing mission-critical medical care and with access to protected health information (PHI) – have proven to be a prized target. In 2019 an unthinkable incident occurred that still sends shockwaves through the medical community. Springhill Medical Center, located in Alabama, suffered a ransomware attack that rendered critical medical equipment useless. As a direct result of networks and monitoring equipment being offline, a baby born in ...
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Risk Cooperative CEO, Andres Franzetti, recently joined Steve Lewis from Dataprise to discuss the current cyber risk landscape, how to prepare for a cyber attack, and ways to go beyond compliance for true cyber resiliency.
In the wake of headline-grabbing attacks like SolarWinds, Colonial Pipeline and Kaseya, cybersecurity is a top concern for businesses of all sizes. And the costs for recovery are rising. "The risks are intensifying at a really alarming rate," says Dataprise CEO, Steve Lewis. With both state-sponsored hackers and garden-variety criminals experiencing great success targeting firms with ransomware and other cybersecurity threats, the risk landscape is quite serious.
Frequent Cyber Attacks Are Impacting the Cyber Insurance Markets
According to Andres Franzetti, Co-founder and CEO of Risk Cooperative, "A ...
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As the U.S. economy returns to normal, businesses turn to upskilling their workforce to navigate the challenges of the post-COVID world.
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Companies are facing modern business challenges spurred by the COVID-19 pandemic as organizations are forced to adapt to an accelerated shift to e-commerce. The surging demand for digital services has led to a shortage of available computer analysts and engineers, driving companies to pursue an alternative option to hiring new employees: retraining existing staff.
Retailers Respond to Digital Demands
The retail industry has seen artificial intelligence play an immense role as consumers increasingly prefer to shop online. However, a tight labor market ...
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Hospitals weathered massive financial hits in 2020 and it's likely that COVID-19 will impact the industry throughout 2021.
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The hospital industry faced a massive financial crisis in 2020 caused by the COVID-19 pandemic, as systems struggled with low patient volumes and massive hits to financial resources and liquidity. The pandemic will likely continue to have a substantial impact on the hospital industry throughout 2021, from increased hospital consolidation to a volatile payer mix and a surge in telehealth.
Mergers Likely to Increase for the Greater Good
Healthcare experienced a significant movement toward hospital consolidation prior to the pandemic, and this trend is likely ...
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An abundance of injuries in Amazon warehouses may damage more than just the e-commerce behemoth’s reputation.
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The hazardous working environments within its warehouses could begin to hurt the company’s bottom line as well.
Amazon’s Fulfillment Centers are Deemed Unfulfilling
According to the Seattle Times, Washington state’s labor agency reported that workers in Amazon’s highly automated warehouses are injured at a higher rate than people working in other types of storage facilities. In December, the labor agency announced a new fulfillment center classification for warehouse employees to calculate workers’ compensation insurance rates.
Previously, the State Department of Labor & Industries has grouped Amazon fulfillment ...
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Businesses of all sizes should revisit their cyber insurance policies in the aftermath of this widespread attack.
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Adding insult to a severely injured year, the waning days of 2020 saw a massive breach aimed at the U.S. government and other private businesses. Perhaps no entity experienced the greatest fallout than SolarWinds, an Austin-based company developing software that helps businesses manage their IT infrastructure.
Orion, network monitoring software developed by SolarWinds, became infected with malicious code which then infected approximately 18,000 SolarWinds customers. Several of the impacted companies include household names such as Intel, VMware, Deloitte, and Belkin.
Businesses of all sizes should ...
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The pandemic has revealed vulnerabilities in the U.S. healthcare and economic systems, including the absence of prolonged, comprehensive paid family, medical, and sick leave to support workers and public health.
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The COVID-19 pandemic has made evident the vulnerabilities in the U.S. healthcare and economic systems. One issue that has been at the forefront during the current crisis is the absence of prolonged, comprehensive paid family, medical, and sick leave to support workers and public health.
Prior to the pandemic, the U.S. was an outlier among developed countries due to the lack of national leave policies, which forced a vast majority of workers ...
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Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk. Subscribe to Insights
With the present COVID-19 pandemic, many organizations have moved to teleworking environments for the health and safety of their employees. This instant changeover coupled with widespread uncertainty and strict government guidelines affecting daily life has created a space where new or existing mental health issues, such as anxiety and depression, are amplified for many employees. As a result, a growing number of Americans – as many as 41%, according to the CDC – are experiencing mental or behavioral health challenges as they adjust to their new remote working arrangements. With nearly 80% of CEOs reporting that telework is here to stay, ...
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This material has also been developed into a downloadable resource to read and share. Insurance Insights | Business Coverage
Insurance is a necessary function for organizations, although not all view this coverage as strategically as they should. As an organization navigates its growth cycle, from start up to multinational corporation, insurance needs will vary. Early stage companies often are driven by compliance when purchasing coverage, yet leveraging insurance and risk transfer solutions more strategically can help younger organizations become more resilient, transfer financial risk, and withstand many of the uncertainties companies of all sizes will face throughout their operating years.
As organizations evaluate their insurance needs, they can compartmentalize key coverages for consideration into phases that match their current size and ...
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Risk Cooperative helps organizations navigate the complex world of health insurance and employee benefits. Learn More
Running a business presents many challenges but working with your insurance broker should not be one of them. The client/broker relationship works best for all parties when it’s viewed as a valued partnership, with clearly articulated expectations. Poor customer service, unresponsiveness, and general lack of support are a few of the many reasons businesses become dissatisfied with their brokers. Many frustrations can be avoided when the client and the broker have a common understanding of not just the service that is to be expected, but also the roles of the broker and the insured. This clarity and accountability upfront help to maximize the value ...
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