Tags: Risk Management

Understanding Risk Management for Your Business

All business faces risks that could present threats to their success. That’s why minimizing risk should be a central part of any business’ strategic management. Risk management helps you to identify and address the risks facing your business and in doing so increase the likelihood of successfully achieving your businesses objectives. Risk is defined as the probability of an event and its consequences. Risk management is the practice of using processes, methods and tools for managing these risks. Risk management focuses on identifying what could go wrong, evaluating which risks... Read More

Why Purchasing A Cyber Policy Makes Sense for Your Business

Most companies purchase general liability insurance to protect themselves from potential lawsuits or claims resulting from accidents, injuries or negligence. They purchase professional liability insurance to protect themselves against the cost of errors, malpractice or negligence in services provided to their customers. Likewise, many companies are required by states to buy workers’ compensation insurance to ensure they can cover an injured employee’s medical expenses and loss of income. So, why don’t more companies purchase cyber insurance to protect themselves against first- and third-party claims arising from cyber incidents? Alarmingly, 43... Read More

How Wearable Technology Is Having A Profound Impact On Workplace Safety

Work related injuries account for about $250 million in the United States, across several industries. According to the Bureau of Labor Statistics, 2.9 million nonfatal workplace injuries and illnesses were reported in 2016. Each incident can lead to lost work, low morale, workers’ compensation claims and other problems for both the workers and their employers. Keeping workers safe is of the utmost priority. However, while many organizations understand the importance of occupational health and safety practices, a lot of them still struggle to maintain it. Even though there are a number... Read More