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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.
By Kayla Hickey Wed, Mar 17, 2021 @ 15:03 PM
Does your organization have a process and program enabled to report on near misses easily? Are corrective actions being implemented to lower the frequency and severity of future occurrences? Are employees risk sensitive?
A near miss is an unplanned event that did not result in injury or damage - but had the potential to do so. When only reporting claims and omitting near misses, your organization is not getting the full picture of potential hazards.
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By Guest Contributor Wed, Mar 17, 2021 @ 14:03 PM
This is a guest post written by Carol Williams, founder and principal consultant of ERM Insights by Carol. Carol helps mid-sized organizations prioritize resources to focus on the biggest threats and opportunities. Grab her free ebook on how enterprise risk management is different from traditional risk management.
All successful endeavours that stand the test of time look at the big picture. History is replete with examples. If Henry Ford did not think about the big picture of mobility and production, would the iconic brand still be around today?
The same principle is true for initiatives within an organization – if you do not consider the big picture of how it will deliver value and achieve long-term goals, the effort has a higher risk of stagnation and even failure.
By Craig Rowe Wed, Mar 3, 2021 @ 17:03 PM
Often a topic for debate, the issue of insurance as a commodity sparked a great discussion on LinkedIn. I’d like to hear what you have to say in our comments section below.
A commodity is defined as a good that is the same no matter who supplies it, and can be differentiated based on price.
Is it true that all insurance is the same aside from price? How do most companies decide where to purchase their insurance?
By Rebecca Webb Wed, Mar 3, 2021 @ 14:03 PM
Insurance is essential but costly. Every organization needs it, or they risk shutting down in the face of a crisis they can’t recover from.
Even so, insurance premiums come with a hefty price tag. Smaller organizations may feel that insurance coverage is out of their reach while large corporations must control the hundreds of claims they face per year. Either way, all organizations must find a way to reduce their insurance costs to ensure they can protect themselves without spending too much money.
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