Risk Management Blog - ClearRisk

Supply Chain Risk Management: A Few Things You Should Consider

Posted by Kayla Hickey on Wed, Jun 21, 2017 @ 14:06 PM

 

Supply chain risk management is not a new concept. It's important to consider your company’s risk exposure when entering into a business relationship with a third party. How will your operations be impacted when a supplier is consistently delivering essential materials for your production process late? What if your materials are damaged when you receive them? There's a few things that you can do to mitigate your business from supplier risk.

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Topics: supply chain risk management, supplier risk, Supplier risk management

Product Recall: How Your Business Can Prepare

Posted by Kayla Hickey on Tue, Jun 13, 2017 @ 16:06 PM

 

Product recall is a terrifying phrase for both manufacturers and retailers. If not handled properly, it has the ability to destroy brands and bankrupt companies. With the ability to have such a detrimental impact, you would think that many companies have an effective product recall plan in place. But in reality, many companies, even large corporations, are not prepared to handle a large product recall incident. 

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Topics: product liability, manufacturing product liability, product design liability, product recall preparedness, product recall, product recall management

7 Tips on How to Control Your Company's Insurance Costs

Posted by Kayla Hickey on Fri, Jun 9, 2017 @ 15:06 PM

 

Organizations are constantly searching for opportunities to reduce insurance costs. Companies need to view their role in the insurer/insured relationship differently. The insurance company isn’t selling you insurance; you are selling them your risk. Don't let them assume what you do and what your risks are. By providing detailed risk management plans including your organizations ability to produce and implement trend analysis reporting, your company is promoting its proactive, risk consciousness environment. When history is unknown or the internal approach is more reactive than proactive, insurers will typically err on the side of caution. This frequently translates into higher premiums and more restrictive coverages and limits.

Follow these tips below to get the best insurance for your company:

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Topics: risk management insurance, insurance broker risk management, risk management tips, Insurance and Insurance Purchasing

5 Easy Ways to Prevent Fleet Vehicle Theft

Posted by Kate Boland on Thu, Jun 1, 2017 @ 15:06 PM
 
Theft of vehicles and contents is a frequent type of loss for many fleets. IBC reports in 2014 that over 73,000 vehicles were stolen in 2014 in Canada alone. This is a risk that can often be avoided if some simple efforts are made. In this article we outline five measures you can take to protect your company against theft.
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Topics: Vehicle Theft Prevention, Vehicle Theft Risk, fleet theft, vehicle theft

Most Common Types of Claims Facing Retailers

Posted by Kayla Hickey on Thu, May 25, 2017 @ 16:05 PM

Operating any size business whether it be a small local shop to a large retailer can be costly. Your business could end up having to close its doors as a result of having to pay out the cost of an insurance claim. As a retailer it is essential to both be aware and prepare for the biggest types of insurance claims facing your industry.

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Topics: Retail Claims, Retail Risk, Claims Management, Retail Claims Management

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