Get a read on risk.

Over the past couple of years, small businesses have been through the ringer. With so much unprecedented turmoil from a global pandemic, economic decline, and inflation affecting businesses, it’s important that SMBs take steps to protect themselves from preventable risks.

In 2021, all industries are facing pressures to adapt and respond to a growing list of emerging risks and disasters. The last year has seen strides to amplify technology use, broaden the talent pool, and adopt innovative, data-driven, risk mitigation strategies. The 2022 risk landscape is changing faster than most organizations can keep up with, leaving executives and risk managers with the question: “How can I make my organization more resilient?” 

A third party administrator (TPA) is an organization that processes insurance claims. This can be viewed as “outsourcing” the administration of the claims process, since the TPA is performing a task traditionally handled by the insurance company or the organization itself.

In 1985 two accountants from Bedford, Nova Scotia developed the Bedford Accounting Software program. Later, Bedford was sold and became Simply Accounting and then Sage Accounting, as it is known today.

Risk management departments have become commonplace and necessary for large public or private organizations that have broad and diverse operations. Risk management teams are responsible for keeping track of a huge amount of data, including details related to incidents, claims, insurance policies, physical assets, certificates, contracts, employees and more. Effective risk management relies on reports produced from this data to enhance visibility, inform decision making, and optimize risk organization-wide.