Risk Management Blog

Get a read on risk.

There are many blogs out there, so what makes ours so special? Quite simply, if you want to deepen your understanding of risk management, every article herein will be worth your attention.

Designed by our experts to offer practical tips and techniques to elevate risk management and its influence on an organization’s performance; this is good stuff. And because we all know that data is the new gold, you’ll find plenty of insight into capturing and leveraging risk data to your organization’s advantage.

The Importance of Risk Mapping

By Rebecca Webb Wed, Nov 4, 2020 @ 14:11 PM

Why should your organization be using risk maps?

Building a risk map brings valuable benefits. You will have a thorough understanding of your risk environment and how individual risks compare to one another. You can use this to strategically prioritize your risks and determine where to use your limited resources.

A risk map is built by plotting the frequency of a risk on the y-axis of the chart and the severity on the x-axis. Frequency is how likely the risk is or how often you think it will occur; severity is how much of an impact it would have if it did occur.

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How to Hold Business Units Accountable for Claim Costs

By Rebecca Webb Wed, Oct 28, 2020 @ 14:10 PM

If you think the cost of claims and incidents within your organization is too high, it’s time to address that problem.

But how can you know what steps to take when all you have is an overall number?

By breaking down occurrences by location, department, division, and so on, it will be easier to figure out the root of the problem and work towards solving it. That’s why it’s important to make these individual units accountable for their costs.

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8 Risk Management Points Every Broker Should Know

By Craig Rowe Wed, Oct 14, 2020 @ 17:10 PM

Mid-market is the most profitable and coveted segment, and therefore the most fiercely competed over. Medium-sized companies have the same problems as Fortune 500 companies, just on a smaller scale.

The problem lies in risk solutions; these solutions don't scale and small companies are unsure of where they can turn for help. As a result, medium-sized businesses do not benefit fully from risk management.Insurance brokers deal with these companies every day, sharing advice on one important aspect of risk: their insurance.

Brokers specialize in helping these same companies use broader risk management resources, tools, and services. If the brokers do not provide risk management services, others will: accountants, lawyers, and OHS and WCC consultants. Insurance brokers should talk to their clients and prospects about risk management in a way they understand.

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Incident Reports: Why You Should Draft One

By Christopher Gardner Wed, Oct 14, 2020 @ 17:10 PM

Please note that we have updated this blog post! Take a look at the current version here.

Incident reports are one of the most important forms of documentation for a corporation to employ in their day to day operations for a multitude of reasons. Whether reporting an instance of employee injury, property damage, improper conduct, or other reasons, it is increasingly important for a corporation to keep an incident report template on hand in case it is ever needed.

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6 Legal Risks Companies Shouldn't Forget

By Rebecca Webb Wed, Oct 7, 2020 @ 18:10 PM

While conducting business, there are countless legal issues that a company may run into. Some, such as negligence in product liability and occupier’s liability, are obvious and most companies already have mitigation measures in place. Others are not considered as frequently and can even happen accidentally.

While unintentional, these mistakes can have consequences that are just as severe. Here are several legal risks that all companies should incorporate into their risk management plan.

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