Risk Management Blog - ClearRisk

3 Tips for Creating a Fraud-Resistant Environment

Posted by Cody Colbert on Thu, May 18, 2017 @ 14:05 PM

Next to controls, the single most effective way to prevent fraud is to create an environment that is fraud-resistant. It is possible to limit opportunities for fraud before they impact your organization by identifying unacceptable practices and advocating stringent consequences for offenders.

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Topics: fraud, fraud risk, fraud prevention

The Manufacturing Supply Chain: Top 10 Risks to Consider

Posted by Kayla Hickey on Fri, May 12, 2017 @ 15:05 PM

 

The risks that impact the supply chain of manufacturers is continuously growing and changing. The supply chain is vulnerable to countless risks such as supplier relationships, manufacturing processes, shipment of finished products, and many more. When conducting a risk management plan for your business there are many major risk factors to be considered that are completely out of your control.

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Topics: supply chain risk management, supply chain risks, Manufacturing, manufacturing supply chain

8 Reasons to Implement a Fleet Loss Prevention Program

Posted by Cody Colbert on Thu, May 4, 2017 @ 14:05 PM

Loss control is a management priority whether a fleet is large or small. A Fleet Loss Prevention Program can decrease insurance claims and help mitigate the frequency and severity of future losses. Often the other tangible and intangible benefits of these types of programs can be overlooked, but are just as valuable to your company!

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Topics: risk mitigation plan, Risk Management Software, incident management software, claims management software, Benefits of Fleet Loss Prevention, Fleet Loss Prevention Program, Loss Prevention ROI, municipal fleet management, Sample Fleet Loss Prevention Program, lower insurance costs

Business Continuity Planning: 3 Problems and 1 Solution

Posted by Maegan Marshall on Mon, Mar 6, 2017 @ 10:03 AM

Minimize Losses

It’s important to have a plan in case of an emergency such as a fire, natural disaster, vandalism, or other situation that could disrupt productivity or cease operations. These plans can save a business if executed properly.Such disasters can potentially leave a business struggling to fulfill promises to customers, leading to further financial and reputational damage in the future. It is imperative to implement a plan for those essential services, minimize business losses and reduce impact on your customers.

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Topics: risk management insurance, business continuity planning, business continuity, bcp, loss prevention

Occupier's Liability Risk: Reducing the Likelihood and Impact

Posted by Maegan Marshall on Wed, Feb 15, 2017 @ 11:02 AM

Every business that owns, rents or is otherwise responsible for property, owes a duty of care to every person that enters those premises. The area of law that is concerned with this responsibility is occupier’s liability.

Being found negligent as an occupier can have extensive repercussions on a business. This can include the financial burden of being held responsible for a claims expenses, to the reputational risk and negative publicity associated with an incident occurring on your premises. To limit these occurences, it’s essential for organizations to take necessary precautions that will help mitigate the frequency and severity of future events. 

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Topics: risk management plan, operational risk management software, legal risk, risk management, retail risk management, manufacturing risk management, incident management software, risk management information system, claims management software, wholesale risk management, occupier's liability

Top 10 Business Risks in Canada

Posted by Cody Colbert on Fri, Jan 13, 2017 @ 14:01 PM

Allianz Insurance just released its list of top global Business risks for 2017 from a recent survey, and it broke it down by region, including Canada.

It's interesting to see that more "traditional" risks such as business interruption, market risks and natural disasters are once again on top of the list.

With all that's going on in the world with emerging technology (self driving cars, drones) and cyber-risk (phishing, cyber ransom), it's very surprising to see those risks much lower on the list. Perhaps technology risks have become less novel, and are more baked into the thinking of business executives. This can be good and bad. It's good to be realistic about the likelihood and impact of emerging risks, but it's not so good to be complacent just because you may not understand a risk.

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Topics: allianz business risk, market developments, cyber attack, business interruption, business risk canada

12 Best Practices for Mitigating Product Liability

Posted by Maegan Marshall on Wed, Nov 30, 2016 @ 13:11 PM

All manufacturers carry a duty of care in providing consumer products that are safe for its intended use. If an incident occurs, establishing who is at fault can be a long, tiresome, and expensive process. That’s why it’s important to ensure your organization is taking all necessary precautions throughout the entire manufacturing lifecycle. A comprehensive understanding of what you can do to reduce your liability is an essential step towards building a stable financial plan.

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Topics: legal risk, product liability, manufacturing risk management, manufacturing product liability, manufacturing EHS, manufacturing process management, duty of care liability, incident tracking, manufacturing claims management, manufacturing incident management, product design liability, manufacturing duty of care, commercial product liability

3 Steps to Reduce the Frequency and Severity of Liability Claims

Posted by Maegan Marshall on Tue, Nov 22, 2016 @ 12:11 PM

Slips, trips, and falls are a common cause of liability claims affecting organizations. These occurrences can range from minor incidents to major claims that can involve multi-million dollar lawsuits. It’s unlikely to completely avoid these types of potential accidents, but it is possible to take precautions that will help in reducing the frequency and severity in case of an event. 

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Topics: risk management, slips trips and falls, Claims Management, Retail Claims Management, EHS, injury claim, injury claims, Environmental Health and Safety, health and safety, environmental risk management

Environmental Health and Safety [CHECKLIST]

Posted by Maegan Marshall on Tue, Nov 8, 2016 @ 13:11 PM

EHS: Two Sides to One Coin

Having a comprehensive plan in place for ensuring employee safety in a manufacturing facility can be daunting. Your locations may provide high probability for employee injury. When constructing a plan to deal with hazards, it’s troublesome to think that a potential risk has been overlooked. That’s why we've assembled this comprehensive environmental health and safety checklist - so EHS Managers like you can use it when reviewing your own documents.

There are two main areas to consider when checking your safety protocols for gaps: the physical space where the work is taking place, and those performing the task.

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Topics: occupational health and safety, EHS, Environmental Health and Safety, health and safety, environmental risk management, occupational risk management

10 Risk Management Strategies for Retailers

Posted by Maegan Marshall on Thu, Oct 27, 2016 @ 11:10 AM

Retail is a risky industry. With consumer purchasing tendencies trending towards the online marketplace, business owners must think outside-the-box on issues which could affect their bottom line and reputation. We’ve compiled ten tips that will help in changing this focus to major risks associated with the retail industry.

Here are three points to get you started: Risk Ownership, Protecting your Brand, and Safeguarding the Supply Chain. These are simple measures that can help lessen the severity in case of an incident. Say a potential customer wants to buy product from you but it is out of stock. “Not a problem!” you say and offer to order it in for them - only to find out your supplier doesn’t have any either. The last batch of product was just sold to your competitor and won’t have more available for a month. You try to explain this to the customer but it’s no use. They head to Facebook where they post a complaint. As quickly as that, a potential customer can switch to a competitor and tarnish the reputation of your business, all at the same time. Head over here for a real-life supply chain scenario between Nokia and Ericsson which discusses a similar situation.

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Topics: supply chain risk management, Claims and Risk Management for Retail, retail risk management, Retail Risk, risk management tips, risk ownership, brand risk management