About Caroline McDonald

Caroline McDonald is a writer and former senior editor of the Risk Management Monitor and Risk Management magazine.
Для тех, кто интересуется безопасным доступом к онлайн-играм, наш партнер предлагает зеркало Вавады, которое позволяет обходить любые блокировки и сохранять доступ ко всем функциям казино.

Make Your Hurricane Preparations Now

With the Atlantic hurricane season’s official start on June 1, the time to check your buildings and existing contingency plans—or start a new one—is now, during hurricane preparedness week.

For 2017, Colorado State University’s hurricane research team predicts slightly below-average activity of hurricanes making landfall, with a forecast of 11 named storms, four hurricanes, and two major hurricanes.

The 2016 season is seen as a wakeup call, as 15 named storms and seven hurricanes formed in the Atlantic Basin—the largest number since 2012. Among the hurricanes was Matthew, a Category 4, which devastated Haiti, leaving 546 dead and hundreds of thousands in need of assistance. After being downgraded to a Category 2, Matthew pummeled southeast coastal regions of the U.S., with 43 deaths reported and widespread flooding in several states.

Here are 10 preparedness steps offered by FEMA:

The Insurance Institute for Business & Home Safety (IBHS) warns that small businesses are especially vulnerable. Of businesses closed because of a disaster, at least one in four never reopens.

IBHS offers these steps for preparing a business for hurricane season:

  1. Have your building(s) inspected and complete any maintenance needed to ensure your building can stand up to severe weather.
  2. Designate an employee to monitor weather reports and alert your team to the potential of severe weather.
  3. Review your business continuity plan and update as needed, including employee contact information. If you do not have a business continuity plan, consider IBHS’ free, easy-to-use business continuity plan toolkit for small businesses.
  4. Remind employees of key elements of the plan, including post-event communication procedures and work/payroll procedures. Make sure all employees have a paper copy of the plan. Review emergency shutdown and start-up procedures, such as electrical systems, with appropriate personnel, including alternates.
  5. If backup power such as a diesel generator is to be used, test your system and establish proper contracts with fuel suppliers for emergency fuel deliveries.
  6. Re-inspect and replenish emergency supplies inventory, since emergency supplies are often used during the offseason for non-emergency situations.
  7. Test all life safety equipment.
  8. Conduct training/simulation exercises for both your business continuity and emergency preparedness/response plans.

Interstate Restoration has a day-by-day list of steps for business storm preparation, based on NOAA recommendations. They include research, planning and documenting, gathering emergency supplies, checking insurance coverage and supply chain and finalizing your plan.

Total Cost of Risk Drops for Third Straight Year, RIMS Finds

Despite the challenges of a slowed economy in an election year, a shifting risk landscape as a result of technological advances, and a slow to negative growth rate in some sectors, 2016 saw the total cost of risk (TCOR) decline for the third consecutive year, according to the 2017 RIMS Benchmark Survey.

Even in the face of such uncertainties, the TCOR per $1,000 of revenue continued to drop, ending at $10.07 in 2016. The main drivers were declines in all lines excluding fidelity, surety and crime costs, according to the report. TCOR is defined in the survey as the cost of insurance, plus the costs of the losses retained and the administrative costs of the risk management department.

The survey encompasses industry data from 759 organizations and contains policy-level information from 10 coverage groups, subdivided into 90 lines of business.

Uncertainty around policies in the new presidential administration will continue to dominate in 2017, as the nation’s trade policy, regulatory reform and tax system could see changes, RIMS reported. The new political regime is also expected to reduce regulatory oversight at the state, federal and international levels.

Key findings from this year’s RIMS Benchmark Survey include:

  • Technological advances have caused a seismic shift in the risk landscape, creating new types of claims and forcing insurers to consider new products and solutions for customers.
  • Insurers ended 2016 with average capital and surplus at the highest level in 10 years. However, excess capacity is undermining profitability, as seen by falling net income and return on average equity.
  • The personal insurance space is in the midst of a consumer-centric revolution, offering customers new transaction platforms, better metrics and more flexible pricing and coverage options. Commercial insurance is expected to adopt a similar focus, transforming the way business is transacted.
  • Predicted rate increases for cyber, E&O and workers compensation failed to materialize across the board. Projections for 2017 are more moderate, with property and most liability lines flat to down 10%.
  • Emerging trends in the 2017 risk landscape include the tech revolution, security issues, natural catastrophes and political upheaval.

“The RIMS Benchmark Survey chronicles the evolution of corporate risk management costs over time. This year’s edition highlights how risk managers have effectively managed costs in a time of evolving risks and demands, enabling them to do more with less,” said Jim Blinn, executive vice president of client solutions at Advisen.

Disruptive Technologies Present Opportunities for Risk Managers, Study Finds

PHILADELPHIA–Disruptive technologies are used more and more by businesses, but those organizations appear to be unprepared. What’s more, companies seem to lack understanding of the technologies and many are not conducting risk assessments, according to the 14th annual Excellence in Risk Management report, released at the RIMS conference here.

The study found an apparent lack of awareness among risk professionals of their company’s use of existing and emerging technologies, including the Internet of Things (IoT), telematics, sensors, smart buildings, and robotics and their associated risks. When presented with 13 common disruptive technologies, 24% of respondents said their organizations are not currently using or planning to use any of them. This is surprising, as other studies have found that more than 90% of companies are either using or evaluating IoT technology or wearable technologies and that companies in the United States invested $230 billion on IoT in 2016.

Another finding was that despite the impact disruptive technology can have on an organization’s business strategy, model, and risk profile, 60% of respondents said they do not conduct risk assessments around disruptive technologies.

“Today’s disruptive technologies will soon be — and in many cases already are — the norm for doing business,” said Brian Elowe, Marsh’s U.S. client executive leader and co-author of the report said in a statement. “Such lack of understanding and attention being paid to the risks is alarming. Organizations cannot fully realize the rewards of using today’s innovative technology if the risks are not fully understood and managed.” According to the study:

Organizations generally, and risk management professionals in particular, need to adopt a more proactive approach to educate themselves about disruptive technologies — what is already in use, what is on the horizon, and what are the risks and rewards. Forward-leaning executives are able to properly identify, assess, and diagnose disruptive technology risks and their impact on business models and strategies.

This lack of clarity presents opportunity for risk professionals. In fact, previous Excellence reports have indicated that C-suite executives and boards of directors want to know what risks loom ahead for their organizations and increasingly rely on risk professionals to provide that insight.

“As organizations adapt to innovative technologies, risk professionals have the opportunity to lead the way in developing risk management capabilities and bringing insights to bear on business strategy decisions,” said Carol Fox, vice president of strategic initiatives for RIMS and co-author of the report. “As a first step, risk professionals are advised to proactively educate themselves about disruptive technologies, including what is already in use at their organizations, what technologies may be on the horizon, and the respective risks and rewards of using such technology.”

One thing companies can do to manage risks associated with disruptive technologies is facilitate discussions through cross-functional committees—yet fewer companies, only 48%, said they have one, a drop from 52% last year and 62% five years ago.

Whether discussed in weekly, monthly, or quarterly organization-wide committee meetings, emerging risks — including disruptive technologies — need to be examined regularly to anticipate and manage the acceleration of business model changes. When risk is siloed, too often the tendency can be toward an insurance-focused approach to risk transfer rather than an enterprise approach that may lead to pursuing untapped opportunities.

The Excellence survey, Ready or Not, Disruption is Here, is based on more than 700 responses to an online survey and a series of focus groups with leading risk executives in January and February 2017.

Findings from the survey were released today at the RIMS 2017 Annual Conference & Exhibition. Copies of the survey are available on www.marsh.com<http://www.marsh.com> and www.rims.org<http://www.rims.org>.

Dallas Alarms Hack a Warning of Infrastructure Vulnerability

Dallas residents were wide awake and in a state of confusion late Friday night when the city’s outdoor emergency system was hacked, causing all of its 156 alarms to blast for an hour-and-a-half until almost 1:30 a.

buy abilify online achievephysiorehab.ca/wp-content/uploads/2023/10/jpg/abilify.html no prescription pharmacy

m.

With some interpreting the warning as a bomb or missile, a number of residents dialed 9-1-1, but the number of calls—4,400 in all—overwhelmed the system, causing some callers to wait for up to six minutes for a response, the New York Times reported.

The alarms blasted for 90-second durations about 15 times, Rocky Vaz, the director of the city’s Office of Emergency Management, told reporters at a news conference.

Mr. Vaz said emergency workers and technicians had to first figure out whether the sirens had been activated because of an actual emergency. And turning off the sirens also proved difficult, eventually prompting officials to shut down the entire system.

“Every time we thought we had turned it off, the sirens would sound again, because whoever was hacking us was continuously hacking us,” Sana Syed, a spokeswoman for the city told the Times.

Eventually the alarms were turned off, which had to be done manually, one alarm at a time.

On Saturday afternoon the system, used for hurricanes and other warnings, was still down, but officials said they hoped to have it functioning soon.

buy vidalista online achievephysiorehab.ca/wp-content/uploads/2023/10/jpg/vidalista.html no prescription pharmacy

 They also said they had pinpointed the origin of the security breach after ruling out that the alarms had come from their control system or from remote access.

Mr. Vaz said that Dallas had reached out to the Federal Communications Commission for help and was taking steps to prevent hackers from setting off the system again, but that city officials had not communicated with federal law enforcement authorities.

Security officials have warned about the risks that such hacking attacks pose to infrastructure, which is often aging and in disrepair. Federal data shows that the number of attacks on critical infrastructure appears to have risen: to nearly 300 in 2015 from just under 200 in 2012. Attacks include a 2008 oil pipeline explosion in Turkey; a 2015 hacking of Ukraine’s power grid, leaving 200,000 people in Western Ukraine without electricity for several hours; and in 2013, hackers tried to gain control of a small dam in upstate New York. Seven computer specialists, who worked for Iran’s Islamic Revolutionary Guards Corps.

buy spiriva inhaler online achievephysiorehab.ca/wp-content/uploads/2023/10/jpg/spiriva-inhaler.html no prescription pharmacy

, were indicted for trying to take over controls of the dam, according to the Times.