Risk Management Blog - ClearRisk

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. 

These best practices can be divided into three categories: risk management, claims handling and data tracking/trend analysis. 

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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

Reducing Your Risk of a Public Liability Claim

Posted by Chris Dunne on Wed, Sep 18, 2013 @ 07:09 AM
The following blog post is a guest post by Laurie Joyce.

As we all know, running a business is complicated. There are so many aspects of your business to consider – getting the clients, doing the job, keeping track of costs… the list just goes on. One more thing you certainly don’t want to add to your long list is a Public Liability claim. This itself brings its own long list, so it’s important to run your business efficiently, well, and above all consider the risks that may be involved so you can plan to reduce this from the get-go. 

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Topics: public liability claim, risk management procedures, public liability risk, reducing public liability

Interview with Retail Risk Expert, Joe Hardy

Posted by Chris Dunne on Fri, Jul 5, 2013 @ 15:07 PM

On our recent webinar, “Risk Management Best Practices for Retail”, we sat down with Joe Hardy, a veteran of risk management in retail, to get his thoughts on where the industry is going.  As always, Joe’s answers were extremely valuable and we decided to compile the interview portion of the webinar into a blog post.  If you’d like to learn more about risk management in the retail industry, click here to see our Top 10 Risk Management Tips for Retailers!

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Topics: ClearRisk, Retail ERM, Retail Claims, ClearRisk Inc., retail risk management, Retail Risk, Retail Claims Management

Top 10 Retail Risk Management Tips

Posted by Laura Fudge on Fri, Jun 21, 2013 @ 11:06 AM

 Top 10 Retail Risk Management Tips

In our recently released “Top 10 Risk Management Tips for Retailers”, we looked at som the common challenges and risks facing risk managers in the retail industry, and the top 10 tipsto combat this challenges.  With the volatility of today’sfinancial envir onment, increase in natural disasters, and explosion of technology, it is extremely difficult to narrow it down to just 10 tips.  But as any risk manager would triage his or her organization’s risks, we triaged our list as well.

Below you will find a sample of two of the tips from our list.

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Topics: Retail ERM, Claims and Risk Management for Retail, Retail Risks, risk management, affordable risk management, retail risk management, Retail Risk, Claims Management, Retail Claims Management

Reputational Risk: Consistency in Customer Support & Social Media

Posted by Laura Fudge on Thu, Apr 11, 2013 @ 08:04 AM

As discussed in one of our recent posts, reputational risk has become a top priority in recent years with the explosive adoption of social media. We’ve all seen the Shell smear campaign come across our news feed, or the overnight meltdown witnessed on Applebee’s Facebook page after an employee was fired for posting a customer’s receipt. Yet we’ve also seen positive outcomes: increased communication between corporations and their customers, sharing of campaigns that strike a chord with consumers to their entire networks, and even visible praise from those who have had their questions and concerns dealt with in a satisfactory manner.  

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Topics: reputational risk, social media risk, customer support consistency