Categories ArchivesInsurance 101

Crisis Preparedness Checklist standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights This is the third and final installment of our business resiliency best practices, outlining preparedness elements to have in place before a crisis. Part one offers guidance on responding to an active crisis. Part two addresses components of a post-crisis recovery. As you implemented your crisis response and recovery strategies, you no doubt realized that the most effective way to respond to a business interruption incident, be it cyber attack, global pandemic, natural disaster, etc., is through careful preparation. Whether your crisis plan was not sufficiently detailed, had out-of-date information, or for some other reason was less than ideal, the ...

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Crisis Recovery Checklist standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights This is the second of three installments of our business resiliency best practices, addressing components of a post-crisis recovery. Part three will outline preparedness elements to have in place before a crisis. Part one offers guidance on responding to an active crisis. Now that you have navigated your business through the crisis response checklist and the most acute challenges have begun to abate, it is time to implement a thoughtful “back to business” strategic plan. Any crisis that threatens business continuity – cyber attack, global pandemic, natural disaster, etc. – will have a profound impact on business operations going forward. ...

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Crisis Response Checklist standard

This is the first of three installments of our business resiliency best practices, covering responses to an active crisis. Part two will address components of a post-crisis recovery. Part three will outline preparedness elements to have in place before a crisis. The COVID-19 pandemic has exposed the vulnerabilities of organizations to withstand a major business interruption. While a global pandemic is certainly a unique circumstance – never before have so many businesses and individuals globally faced the same existential crisis – the likelihood of another interruption is a matter of when, and not if it will occur. When a crisis transpires, an organization’s response must address the crisis while preventing negative reputational impacts, protecting current and future business deals, and ...

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RC Quick Takes – Employee Benefits: The New Form of Recruitment and Retention standard

Choose an insurance broker who's a trusted partner, invested in your success.   Broker Resources The global pandemic has changed workplaces throughout the U.S., placing a spotlight on employers to reevaluate their benefits policies and offerings. The increasingly competitive market for talent requires businesses to use more than salary to attract and retain skilled professionals. Employers are finding employee benefits packages to be a powerful tool for employee recruitment and retention. Auxiliary benefits—those that go beyond medical, vision and dental coverages—can have an outsize impact relative to their cost. Providers often additional incentives to bundle several of these benefits together. Income or job loss due to a short or long-term disability can be financially devastating, but insurance can provide employees with security and financial ...

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The Telework Playbook: A Virtual Townhall standard

The onset of the COVID-19 pandemic has challenged organizations to create accessible and productive remote workplaces on short notice. As organizations confront the business continuity pressures the pandemic has brought, the rapid adjustment to telework is exposing critical risks. Has your team answered these questions? Do we have the right cybersecurity measures in place? Have we educated our staff on current cyber threats and cyber hygiene? Do we know if our cyber insurance policy applies to telecommuters? How can we best support struggling clients and employees? What is the plan for office re-entry once the crisis has passed?  Risk Cooperative’s Chief Revenue Officer, Les Williams, was joined by Austin Berglas, BlueVoyant’s Global Head of Professional Services to outline the scope of ...

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This Supreme Court Case Shows Exactly Why Every Employer Needs to Understand ERISA Requirements standard

Choose an insurance broker who's a trusted partner, invested in your success.   Broker Resources The U.S. Supreme Court recently ruled unanimously against the arguments of Intel Corp. in a significant lawsuit (Intel Corporation Investment Policy Committee v. Sulyma) surrounding The Employee Retirement Income Security Act (ERISA) provisions and guidelines. In 2015, a former Intel Corp. employee brought a lawsuit against Intel Corp. for a breach of fiduciary duties. The former employee alleged that the plan fiduciaries violated their obligation to act as a responsible fiduciary by making high-risk investment allocations that caused substantial plan losses. According to The Wall Street Journal, the lawsuit was brought to court more than three years after Intel Corp. disclosed the investment allocation arrangements through its plan ...

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Coronavirus and Telecommuting: How One Risk Is Giving Way to an Even Bigger Cyber Threat standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights First identified in Wuhan, Hubei Province, China in December 2019, the virus, officially known as “SARS-CoV-2,” has created a ripple effect throughout the global economy. Most commonly referred to as “coronavirus disease 2019,” or COVID-19 according to The Centers for Disease Control and Prevention (CDC), the pandemic has decimated the market value of countless firms with no signs of easing. At the time this article was published, The Center for Systems Science and Engineering at Johns Hopkins University reported 118,252 global cases of COVID-19 with 4,262 deaths and 64,391 total recoveries. The U.S. has seen 959 confirmed cases with 28 deaths and 8 ...

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Insurance Policies Every Business Should Have standard

Choose an insurance broker who’s a trusted partner, invested in your success.   Broker Resources The early part of 2020 has been dominated by uncertainty.We highlighted five key risks in our article titled Risks to Prepare for in 2020. Make no mistake, every one of these demanding risks are exacerbated by the threat of a global pandemic. The ongoing COVID-19 Coronavirus epidemic reminds us that risks can be unpredictable and have trickle-down effects on businesses of all shapes and sizes. Unpredictable events like COVID-19 remind businesses to revisit their insurance policies to ensure they are prepared for any risks on the horizon. All businesses should have these four insurance policies in place: Business Owner’s Insurance A business owner’s policy, or BOP, ...

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Frustrated by healthcare red tape?  A health advocate service can help. standard

Choose an insurance broker who’s a trusted partner, invested in your success.   Broker Resources Healthcare in the U.S. remains a complex and costly item for all companies. From shifting regulations, to cumbersome enrollment requirements, and sometimes ambiguous claims process, organizations of all sizes struggle with how to get the most out of their coverage. Rising healthcare costs for both employers and employees further drives the need to extract more value when it comes to selecting health insurance. According to a recent Kaiser Family Foundation employee health benefits survey, the annual cost of family health coverage in the U.S. for employers hit the $20,000 mark for the first time. However, costs are not rising for employers alone. The average employee contributes ...

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Innocent Cyber Bystanders Entangled in an Act of War standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Thursday, January 3, 2020, may very well be an inflection point in the history of modern cyber warfare. U.S. President Donald J. Trump ordered a lethal missile strike on a convoy of vehicles carrying General Qassem Soleimani, an influential Iranian military leader, in Iraq’s capital. As expected, international reactions varied greatly. According to The Wall Street Journal, Iraqi Prime Minister Adel Abdul-Mahdi felt the actions breached previously agreed-upon terms with the U.S., Iranian Supreme Leader Ali Khamenei threatened vengeance, French Foreign Minister Jean-Yves Le Drian pleaded for no further escalations between Iran and the U.S., U.S. Democratic party leaders demanded ...

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