Risk Management Blog - ClearRisk

Kayla Hickey

Recent Posts

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

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

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