RISK MANAGEMENT BLOG

Most Common Types of Claims Facing Retailers

Operating any size business, whether it be a small local shop or 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 most prominent types of insurance claims facing your industry.

Topics: Retail Claims Retail Risk Claims Management Retail Claims Management

Reducing Your Risk of a Public Liability Claim

 
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. 

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

Preventing Crime Within Municipalities - 5 Steps

 

Crime prevention within municipal operations can be an important way to migitate related risk. Steps towards crime prevention can include securing premises, implementing financial management systems, preventing theft of special equipment, marketing all valuable property, and assigning costs associated with possible theft scenarios.

The most tempting targets for thieves include:

  • Cash and other items of considerable value
  • Special machines, equipment, vehicles, etc.
  • Items that can be resold
  • Confidential materials
  • Computers and electronics
Topics: crime prevention municipal risk municipal crime

4 Ways to Manage Supply Chain Risks

85% of surveyed global chains experienced at least one supply chain disruption risk in 2017. Deloitte has shown that organizations who proactively manage supply chain risk spend 50% less to manage disruptions.

As always, proactive risk management is more cost efficient than reactive action. An efficient supply chain is essential for the production of quality products and effective customer service.

Topics: supply chain risk management supply chain risks

Legality, Frequency, Severity... Why You Should Manage Cyber Risk Now

Last week, we presented 8 best practices for managing cyber risk. Now we're going to explain why it's so crucial to implement these strategies today. As technologies advance, risk teams are in a constant battle to protect their organizations against new threats. The most recent trend to gain attention is cyber risk. In a 2018 survey conducted by Risk.net, areas of cyber risk ranked #1 and #2 on a list of top ten operational risks.

Topics: cyber risks data privacy how to manage cyber risk

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