RISK MANAGEMENT BLOG

Kayla Hickey

Recent Posts by Kayla Hickey:

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

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 organization's ability to produce and implement trend analysis reporting, your organization is promoting its proactive and risk-conscious 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 organization:

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

Supply Chain Risk Management: A Few Things You Should Consider

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 late delivering essential materials? What if you receive damaged materials? There are a number of options that can be implemented to mitigate risks associated with your supply chain.  

Topics: supply chain risk management supplier risk Supplier risk management

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

The Manufacturing Supply Chain: Top 10 Risks to Consider

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

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

5 Tips to Manage Employee Risk

In Canada, bodily exertion and contact with objects and equipment are the top two events that cause employees to miss work. Risk assessments can be used to protect both the safety of the employees and the security of the business or organization.

In industries where heavy machinery and intense labor are required, it's important to take extra measures to thoroughly manage the risks that can put employees in danger.

Topics: employee risk management risk assessment employee risk workplace assessment

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