Categories ArchivesNews and Analysis

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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Why Payer-Provider Networks Will Help Health Care Flourish Post COVID-19 standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Health insurance carriers have made efforts to support subscribers and dependents through the pandemic crisis by waiving cost sharing such as co-pays, coinsurance and deductibles for providers’ office visits, lab fees and treatments related to COVID-19. According to The Wall Street Journal, some major insurers are going the extra mile by financially assisting health care providers as they struggle from the sharp decrease in non-emergency services caused by the pandemic. AHA Moment: Insurers Answer the Call for Help Health care providers, including hospitals, clinics, and doctors, have experienced financial distress during the pandemic due to the delay of elective surgeries and decline in demand ...

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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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Why We Need a Federal Standard for Health Care Access and Provider Viability standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights While the COVID-19 pandemic has caused health care facilities to rethink their operational strategy, the government has been supportive in the form of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. According to the U.S. Department of Health and Human Services website, CARES provides $100 billion in relief funds to hospitals and other health care providers on the front lines of the coronavirus response. This funding will be used to support health care-related expenses or lost revenue attributable to COVID-19 and to ensure uninsured Americans can get testing and treatment for COVID-19. While the $100 billion will have a major impact on ...

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Why Big Data Is the ‘New Microscope’ in Health Care standard

Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Partnerships between technology firms and hospitals play an important role in advancing the objectives of healthcare risk managers. This past Fall The Wall Street Journal reported that technology companies are partnering with hospitals across the country to store and research patient data. One such partnership involves Google and the Mayo Clinic, who jointly signed a 10-year partnership where Google stores medical, genetic, and financial data on its cloud system. The protected health information (PHI) of patients will be kept confidential because the data will be scrubbed such that it will not have any information linking back to a patient. Additionally, The ...

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Have You Considered COVID-19’s Workers’ Comp Implications for Frontline Workers? standard

Choose an insurance broker who's a trusted partner, invested in your success.   Broker Resources The United States has a long history of workplace conflicts, including personality differences, cultural expectations and malicious harassment. The continual accumulation of COVID-19 cases in the United States has created another source of workplace tension as many employees in essential business industries continue onsite work despite the severe risks. The pressure for essential workplaces to keep up with production demands has led to increasing concerns for the safety of frontline workers. Employees Take a Stand — By Walking Out Workers at an Amazon warehouse in Staten Island, N.Y. recently staged a walkout over concerns about safety at the job site. Amazon’s Whole Food Market employees followed suit by organizing a sickout ...

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During COVID-19, Risk Managers Must Act Now to Be the Heroes Businesses Need standard

Choose an insurance broker who’s a trusted partner, invested in your success.   Broker Resources When the Dean of Harvard Business School, Nithin Nohria, gave his inaugural interview with the school’snewspaper The Harbus in September 2010, he discussed the important role business plays in society.  “My father was CEO of Crompton Greaves in India. I saw the impact business could have in transforming communities through better infrastructure and creating employment opportunities,” he said. Dean Nohria’s views are more important than ever, and the current COVID-19 pandemic has put business to the ultimate test.  As the U.S. prepares for what will be many weeks of social distancing, teleworking and drastically changing daily operations, it is critical that business plays a leading role in navigating these turbulent waters both during and after the threat.    Grande Americano, Leave Extra Room for Employee Well-Being  Given ...

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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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