Category Archives: Risk Management

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Traveling? It’s No Time To Protest

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Traveling for business to a foreign country has its assumed risks.

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Typical details like language barriers and exchange rates can be daunting enough, but businesses should be mindful of the potential effects of a protest or demonstration near their employees’ hotels or destinations.

It is easy to imagine attending a conference in another country where a protest is occurring right in front of your conference center. While many are peaceful, some can become violent and there may be legal issues to consider as well.

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Regardless of whether it is related to your visit, the experience can be confusing and unnerving.

Businesses must consider how to prevent their employees from getting stuck in the wrong place at the wrong time; in addition to the disorientation, there can be severe repercussions for being even seemingly involved in a foreign demonstration. Laws and protocols about protests vary from country to country, and guilt—even by association—can have disastrous consequences.

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To ensure your employees know how to successfully circumvent a demonstration, check out the infographic below by On Call International, which gives advice on how visitors should conduct themselves and stay safe in the event of a protest—particularly a violent one.

Data Breach Risk: What’s Next?

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Ten years ago, many companies didn’t even ask about using encryption to protect data. Over the years, that has changed. More security and privacy professionals began to see it as an option in their cybersecurity defense.

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Then it eventually became a necessary component of most companies’ security strategies and the use of encrypted laptops became a condition precedent for many cyber and privacy insurance policies.

Now, after strengthening their cybersecurity with encryption and other measures, companies need to identify the next potential data exposure points where bad actors can likely turn their attention. One overlooked vulnerability is the visual display of sensitive data on screens.

Protect Visual Privacy
Not every risk management, security and IT professional is familiar with visual hacking, but they should be.

Visual hacking is the unauthorized capturing of sensitive, private or confidential information for unauthorized use. It can include visually stealing information from someone’s phone screen, viewing information left on a printer at work or other opportunities of information that is in plain sight. Very likely, it is already happening to workers in your organization.

It is commonplace for professionals who travel for work to access sensitive corporate material on the go. They could be riding on a train, plane or bus and simply open their laptops, giving those seated next to them full view of their work. In these situations, no one can be certain they are not exposing sensitive information—even something simple like a network username. It is not likely such a road warrior can be aware at all times whether another person is viewing or capturing what’s on their screen.

A study conducted by the Ponemon Institute revealed that 87% of mobile workers have caught someone looking over their shoulder at their laptop in a public space. Yet, despite this potential risk, more than half of mobile workers surveyed said they took no steps to protect important information while working in public.

Visual privacy risks don’t just exist outside the office. A worker who steps away from his or her computer or has a screen facing a public walkway can also expose highly sensitive data to onlookers.

Reduce Your Risk
As with any risk, companies should evaluate the severity and potential frequency of visual privacy exposures to better understand their risk. An insurance broker can help determine if insurance coverage is available for these risks or if insurance premium credits may be available for implementing additional safeguards.

There are other steps any organization can take to reduce the risk of visual hacking. Working with IT departments and information-security officers, companies can implement small, easy changes to existing policies and procedures.

For example, companies can deploy privacy filters on laptops or mobile devices that darken screen data when viewed by onlookers from the side. These filters can also be fitted on device screens in an office to help limit the views of potential insider threats. For example, a receptionist should likely have such a privacy screen in place if his or her screen can be viewed by visitors.

Clean-desk policies should also be in place. Such a policy can reduce the display of sensitive information in printed and electronic forms when workers are away from their desks.

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Workers should also be printing or storing sensitive information in locked areas and use crosscut shredders to destroy sensitive material.

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Finally, because visual privacy can only exist if workers adhere to policies, training is obviously important. Workers should be trained on the importance of visual privacy and being aware of their surroundings. They should also receive regular training on an organization’s privacy policies and associated safeguards.

Tackle Uncertainty with Certainty
Visual privacy may seem like an additional, unnecessary risk management burden to bear. But, like any other potential threat to sensitive data, it deserves attention. After all, a visual hack can leave no trace of when, where or how it happened—and such uncertainties may become problematic when addressing a data breach.

Deadly Ferguson Wildfires Threaten Access to Yosemite Park

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The Ferguson wildfires have been spreading in Mariposa County, California on the western edge of Yosemite National Park for days, burning 27 square miles and taking the life of one firefighter.

The Mercury News reported that more than 1,400 firefighters have been on the scene trying to protect 100 nearby homes and businesses that are in the fire’s path as it moves south and east.

The fires began July 13 at about 8:30 p.m. and by July 15 had nearly doubled to 9,300 acres. On Wednesday it was at 17,319 acres and 5% contained. And while authorities have not declared an official cause, Colin Gannon, senior data analyst at Four Twenty Seven, which studies the economic risk of climate change, said weather and environmental conditions are certainly contributing factors.

“In [this case], three factors—persistent wind, low humidity, and high availability of fuel sources—aligned just right for rapid fire growth. Weather conditions in the days leading up to the fire were extremely hot and dry, with temperatures approaching 100°F, and strong winds pushed the fire into the hills and valleys, allowing the it to spread quickly,” Gannon said. “Compounding this issue is the widespread presence of dry needles and dead trees, which are a highly combustible fuel source. To make matters worse, the location of the fire in steep and rugged terrain has made access difficult for those fighting the fire.”

On July 15, Pacific Gas & Electric Co. switched off power lines serving the area, affecting parts of Yosemite, El Portal and Foresta, in an effort to mitigate further fire risk.

The severity of the fires has not closed down Yosemite, which is nearly 1,200 square miles wide, but did force the closure of several miles of Highway 140 in Mariposa County west of El Portal, limiting some access to the park. The park’s website also advises visitors to “expect poor air quality and limited visibility due to the Ferguson Fire. Smoke may be heavy at times, and visitors should be prepared to limit any heavy outdoor activity during the periods of poor air quality.”

Weather is expected to remain hot and dry for the next seven days, with isolated thunderstorms possible over the Sierra Crest, which authorities are hoping could provide some relief.

According to the California Department of Forestry and Fire Protection, 3,213 fires burned 98,169 acres in the state between January 1 and July 15 of this year. That acreage is down more than 30,000 from this time last year. By September 2017, the Forest Service and Interior Department had spent more than $2 billion fighting fires in the United States for the year — making it the most expensive wildfire season on record.

The insurance industry has been reacting to the high activity, Gannon said, particularly regarding residential properties in risky areas.

“There have been incidents of private insurers dropping coverage for homeowners in high fire risk areas,” Gannon said. “It is difficult to say how pervasively this will occur when new science, and subsequently new understanding of fire risk, becomes available. As a result, state insurance, otherwise known as the California FAIR plan is stepping in to provide coverage for high risk areas.”

As Risk Management Monitor reported, the Insurance Institute for Business and Home Safety (IIBHS) recommends that organizations survey the materials and design features of their structures; as well as the types of plants used, their location and maintenance.

Companies also should determine their fire hazard severity zone (FHSZ) by evaluating the landscape, fire history in the area and terrain features such as slope of the land. Organizations can request the FHSZ rating from local building or fire officials in their area.

IIBHS notes three sources of wildfire ignition:

  1. Burning embers, or firebrands, generated by a wildfire and made worse in windy conditions.
  2. Direct flame contact from the wildfire.
  3. Radiant heat emanating from the fire.

The Data Analytics Adventure

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Is your audience changing? Are your products still relevant and addressing customers’ needs? Are there opportunities for organization to predict—or least make an informed guess—about the future of the market or other trends? Answers to these difficult questions are often buried in the overwhelming amount of data organizations are already collecting and storing.

In this digital age, data analytics is a hot topic for businesses and their risk professionals. In fact, nearly half of the survey respondents (46%) from the RIMS MARSH Excellence in Risk Management XV survey agreed that to successfully become digital, using data and analytics to unlock value and make decisions faster was critical.

Where to begin?
Gathering, organizing and understanding data can be such a daunting task that many often choose to put it off for “another day.

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Paul Koziatek, Enterprise Risk Manager for Coca-Cola Beverages Florida, LLC and an upcoming presenter for the RIMS’ Aug. 2 webinar titled “Mother Lode—Driving Results from Your Data Analytics” offered strategies for risk professionals to get their hands dirty and embark on this data-crunching adventure.

Before getting started, risk professionals must realize that data analytics is an ongoing process, not a project. “One of the biggest misconceptions is that it is a one-off deal,” he said. “It’s the complete opposite. Data analytics is a living, breathing adventure. If you go in with a project-like mindset, you’ll be doomed from the start.”

A great advantage risk professionals have today is the software available to them. “There are a lot of risk professionals who are under the impression that data analytics software is expensive. That might have been the case several years ago, but now RMIS systems can be tailored to meet specific needs and purchased in pieces.”

Additionally, he notes that data analytics programs must constantly be reevaluated.  As information begins to trickle in, risk professionals might have to take a closer look at what they are requesting. “Risk professionals should examine and maintain the program frequently because the original variables used to obtain the data might not always produce the same outcomes.”

Engaging co-workers
A data analytics program requires information and clarification from various subject matter experts from a range of business units. To build these relationships, risk professionals need support from leadership to ensure others in the organization are committed to the process and aware of leadership’s expectations.

With that support, risk professionals can overcome a lack of urgency from others in the organization. “There is a potential to hear feedback such as ‘There is not enough time,’ or ‘We’ll get to that later.’ It is the risk professional’s job to help department leaders see that risk management can create value and is not just a cost-center,” Koziatek said. “Consider those experts as tools and resources. They are going to be the ones who pull the data and provide what it is you need.

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The ability to explain to those experts exactly what you need to get the job done is important. If that’s not accomplished, you can wind up with a bunch of usable or corrupt data.”

He added, “Sales, marketing and planning teams are a great place to start. In some organizations already have the tools, packages and software risk professionals need to analyze data.”

Quick Wins
Quick wins will be a bit different for every organization. Many data analytic adventures get started because of a legacy of bad workers’ compensation cases or a rash of claims against the organization. “For some, a quick win might be focusing the program on a hot, troublesome and expensive activity to quickly reduce the cost of the risk. Key to determining what might constitute a quick-win is understanding the business’s strategy. “Listen to the board of directors, to the CEO and CFO. Then tailor your analytics to that communication and help drive the company’s strategy,” Koziatek said.

Realizing the Value
Data analytics is like a treasure hunt.  With the right information, guidance and support, organizations and their risk professional can discover hidden potential, revenue streams, cost-saving measures and new opportunities.

More than figuring out where the weak points are for the organization, data analytics uncovers connections. “Data analytics is all about the correlation between different variables and outcomes.

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It offers great value by allowing risk professionals to identify those variables before it’s too late,” Koziatek said.

He points to workers compensation and employee-related injuries as an example of data analytics at its best. His organization found that the frequency of injuries and claims were highest among short-term employees (two years or less). Thus, the correlation between claims, length of employment and training were quickly realized. “Without data analytics it might take an organization much longer to really identify the root cause of the activity and, as time goes by, more money can be lost.”

Data analytics’ greatest value for the risk professional is its ability to justify and gain even more support for risk management initiatives. “There is nothing more important than having the data to back up my solutions, my ideas and my needs. That is what the board, senior executives and business leaders want to see. Without these analytics, their outcomes and the reports we produce as a result, it would be extremely difficult to ‘sell’ my ideas to leadership,” Koziatek concluded.