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Municipal risk managers have significant responsibilities. Resident complaints, employee incidents, and a continuous stream of claims are just some of the challenges that are compounded by an inefficient system and the need to juggle priorities. Claims and risk automation allows the public sector to streamline their processes and achieve numerous benefits.
By Rebecca Webb Wed, Mar 17, 2021 @ 18:03 PM
There are three primary reasons all risk professionals should actively manage cyber risk: to comply with regulations, its frequency, and its severity. But what can be done about this problem?
In a study by Accenture Insurance, only 43% of executives believed that their organization’s cyber defence was fully functional. Cyber risk is a difficult threat to manage as technology is constantly changing and there isn’t one clear-cut solution. This list of strategies can be used individually or in tandem to reduce an organization’s cyber risk.
By Chris Dunne Wed, Mar 17, 2021 @ 17:03 PM
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.
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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.
