Risk Management Monitor

FEBRUARY 2, 2023

To that end, the National African American Insurance Association (NAAIA) recently updated its research on its members’ experiences and challenges in the insurance industry, releasing the new study The Next Steps on the Journey: Has Anything Changed?

Insurance 40

Insurance Insurance Activation Evaluation 40

MHA Consulting

FEBRUARY 9, 2023

There are two main types of risk transference: 1) buying insurance and 2) hiring a third-party vendor to perform an activity and passing on to them the risks associated with that activity. The Promise and Pitfalls of Insurance Insurance is the most frequently used and easiest method of risk transference.

Insurance 84

Insurance Insurance Outsourcing Mitigation 84

KingsBridge BCP

DECEMBER 20, 2022

But according to some of Canada’s major insurance companies, we should all be thinking ahead and getting ourselves ready for earthquakes. To learn more about this, read Canada Not Prepared for Major Earthquake Insurers Warn. Most of us believe that earthquakes are simply not a threat to our homes and our businesses.

Insurance 97

Insurance Insurance BCP Publishing 97

MHA Consulting

MARCH 14, 2024

Enterprise Risk Management is the activity of identifying and mitigating the hazards that threaten an organization (definition from Strong Language: The MHA Glossary of Essential Business Continuity Terminology , available for free download with registration). ERM is all about reducing. ERM also increases a few things.

Risk Management 52

Risk Management Management All-Hazards Mitigation 52

Risk Management Monitor

MAY 2, 2023

Recognizing a lifetime of outstanding service and achievement in the risk profession, the society’s top honor, the Harry and Dorothy Goodell Award, was presented to Joan Schmit, distinguished chair of risk management and insurance at the University of Wisconsin-Madison. but remains a leader with the RIMS Chicago Chapter.

Risk Management 97

Risk Management Management Insurance Insurance 97

Risk Management Monitor

SEPTEMBER 21, 2021

With the cost of insurance for businesses rising across many types of coverage, staying on top of trends in the claims portfolio is more important than ever. For this reason, many insurers and TPAs promise to conduct claims reviews with their business customers on a regular basis, but the rigor can vary greatly.

Insurance 75

Insurance Insurance All-Hazards Hazard 75

Pure Storage

MARCH 29, 2024

Here are a few best practices to consider when implementing a strong data protection strategy: Implement an Active Threat and Vulnerability Management Program Before an attack , the adversaries are doing their homework: learning about your organization to understand the size and scope of their opportunity.

Backup 87

Backup Cybersecurity Architecture Resilience 87

Risk Management Monitor

JUNE 13, 2023

“The upcoming Atlantic hurricane season is expected to be less active than recent years, due to competing factors—some that suppress storm development and some that fuel it—driving this year’s overall forecast for a near-normal season,” NOAA reported. Do a dry run.

Disaster Recovery 40

Disaster Recovery Insurance Insurance Emergency Response 40

LogisManager

OCTOBER 19, 2023

Download Now Adopt the Three Lines of Defense In addition to the tactical changes that banks will need to make regarding the frequency of compliance activities, the adoption of the 3 Lines of Defense of Risk Management may also serve as an adjustment that is needed.

Banking 98

Banking Corporate Governance Audit Risk Management 98

OffsiteDataSync

SEPTEMBER 27, 2021

According to Nuspire’s 2021 Q2 Quarterly Threat Landscape Report , the second quarter saw a 55.240% increase in ransomware activity with the attacks becoming “more common and more damaging”. The report is sourced from 90 billion traffic logs to outline new cyber criminal activity, tactics, techniques, and procedures.

Entertainment 52

Entertainment Malware Disaster Recovery Insurance 52

Online Computers

JULY 14, 2023

If you’re looking for ways to increase the profitability of your New York business, consider using AI and reap the following benefits: Optimized workflows AI enables businesses to automate and streamline various operational processes, leading to enhanced efficiency and productivity that allows employees to focus on higher-value activities.

Advertising 52

Advertising Retail Healthcare Insurance 52

Risk Management Monitor

MARCH 3, 2022

Conduct a risk assessment around which sanctions you are exposed to and whether there are any business activities, relationships or practices you need to end or change in some way. Consider any impact winding down activities in one area may have on other business areas. What risks are you exposed to?

Banking 58

Banking Management Insurance Insurance 58

Pure Storage

JANUARY 11, 2024

Industry regulators have taken notice and are making resilience a centerpiece of their activities. The act applies to banks, insurance companies, investment firms, and the like, but it also includes critical third parties. Broad impact across the ecosystem: The breadth and depth of DORA is unprecedented.

Resilience 92

Resilience Financial Services Banking Cybersecurity 92

Security Industry Association

MARCH 8, 2024

security sales, Wesco Carissa Hunter, regional training and compliance manager – Americas, Securitas Global Clients Amena Jamali, information security associate, Tevora Alice L. SIA’s Women in Security Forum works to engage all security professionals to promote, recruit and cultivate women’s leadership for a bolder presence within the industry.

Security 111

Security Marketing Automotive Communications 111

Fusion Risk Management

SEPTEMBER 12, 2022

Your customer may ask you to meet a specific SLA in the event of a data breach so that they can activate their incident management processes . Ability to Procure Cyber Insurance. According to an article in Insurance Business America , the cyber insurance market started to harden in 2020 after a surge in ransomware events.

Resilience 52

Resilience Insurance Insurance Audit 52

National Fire Protection Association

JUNE 8, 2022

According to experts, over the past three years, the nation has seen over 100 fatalities, 40,000 structures destroyed, and nearly $40 billion in insured losses from wildfire in high-risk WUI areas. There are 44.8 million homes located in the wildland-urban interface (WUI) in America.

Insurance 59

Insurance Insurance Government Activation 59

Risk Management Monitor

MARCH 4, 2022

Cyberrisk has also drawn considerable concern and the threat landscape continues to evolve rapidly, though the details of increased cyberattack activity are not yet fully known and may be largely unfolding below the surface right now. and “How can we still work without any technology support?”. Check it out here: [link].

Management 56

Management Malware Cybersecurity Insurance 56

MHA Consulting

MARCH 2, 2023

Residual Risk There are two main kinds of risk when it comes to organizational activities and business continuity: inherent risk and residual risk. Inherent risk is the danger intrinsic to any business activity or operation. Residual risk is the amount of risk that remains in an activity after mitigation controls are applied.

Mitigation 73

Mitigation BCM Acceptable Risk Risk Management 73

Disaster Recovery Journal

OCTOBER 23, 2020

But that was my unofficial designation when I worked for the largest insurance broker in the world some 20 odd years ago. I was explaining the installation of window breakers and door locks to improve their safety in the event of an active shooter. Looking back, these were team-bonding activities and happy moments with my son.

Risk Management 214

Risk Management Disaster Recovery Emergency Response Emergency Response 214

Online Computers

NOVEMBER 2, 2021

It has always been challenging for companies and individuals to stay compliant with the privacy standards of the Health Insurance Portability and Accountability Act of 1996 (HIPAA). A VPN keeps hackers and snoops from spying on your online activities, allowing you to browse the internet safely. Use a virtual private network (VPN).

Internet 52

Internet Healthcare Insurance Insurance 52

Reciprocity

MARCH 24, 2022

Emerging businesses that are just starting or organizations with no established vendor risk management activities. Initial vision and ad hoc activity. The organization is considering how to implement third-party risk activities, or third-party risk management operations are carried out on an as-needed basis.

Risk Management 52

Risk Management Management Audit Cybersecurity 52

Erwood Group

OCTOBER 27, 2020

Not just during an activation of the plan itself, which may keep the business from suffering substantial losses, but even during times of normal business operations. The first and most obvious to many is that business continuity planning helps organizations obtain reduced premiums on insurance.

Business Continuity 59

Business Continuity Continuity Planning Insurance Insurance 59

LogisManager

OCTOBER 12, 2021

However, risk management is an umbrella term that accounts for a number of more granular activities. Let’s examine risk management as the sum of the following parts: Enterprise Risk Management (ERM) : Effectively assessing , mitigating and monitoring activities as you uncover critical risks across your entire enterprise.

Risk Management 52

Risk Management Management Insurance Insurance 52

MHA Consulting

MARCH 30, 2023

ERM is concerned with identifying and evaluating all the risks facing the company, including but not limited to those pertaining to finance, insurance, third-party vendors, and operations. This is a clash both of goals and temperament. There is no such clash between ERM and BCM; they are natural allies.

BCM 85

BCM Risk Management Business Continuity Strategic 85

National Fire Protection Association

AUGUST 3, 2022

As we head into one of the hottest months of the year, daily news reports continue to broadcast stories of record high temperatures and severe drought conditions, both contributing factors to the increased wildfire activity spreading across the U.S. and Europe. Here in the U.S.,

Mitigation 52

Mitigation All-Hazards Education Hazard 52

Plan B Consulting

MAY 16, 2023

First and foremost, those organisations who use business continuity as a ‘tick box exercise’, or as a requirement from their insurance company need to start truly embedding Business Continuity into business-as-usual activities as soon as possible.

Fashion 52

Fashion Business Continuity Risk Management Insurance 52

Reciprocity

APRIL 4, 2022

More specifically, within digital risk management are the active measures that businesses can take to protect their assets: digital risk protection. DRP is the active piece of the cybersecurity puzzle, and is an imperative for every organization. What is Digital Risk Protection?

Mitigation 52

Mitigation Cybersecurity Malware Media 52

Pure Storage

MARCH 21, 2022

Collecting and analyzing evidence of malicious network activity. IT is critical both before and after a security event and will be actively involved in all phases of the emergency response plan, including: Preparation: Mapping out IT assets, data, devices, and users within the IT ecosystem. Giving testimony at legal proceedings.

Emergency Response 85

Emergency Response Emergency Response Backup Outsourcing 85

Plan B Consulting

SEPTEMBER 11, 2016

Diverse Sites – the activity is carried out at two sites 2. Subcontract – this is where the activity affected by the incident, is carried out by a third party 5. Insurance – using insurance to cover any losses 6. Insuring any network connectivity or utilities into site are duelled 6. These are: 1.

Resilience 52

Resilience Manufacturing Insurance Insurance 52

Plan B Consulting

SEPTEMBER 11, 2016

Diverse Sites – the activity is carried out at two sites. Subcontract – this is where the activity affected by the incident, is carried out by a third party. Insurance – using insurance to cover any losses. Insuring any network connectivity or utilities into site are duelled. These are: 1.

Resilience 52

Resilience Manufacturing Insurance Insurance 52

Disaster Safety

DECEMBER 23, 2021

Activate your business continuity plan. Designate times for key staff members to call into conference calls for situation overviews. After a winter event. A business sign that says Open on cafe or restaurant hang on door at entrance. Vintage color tone style. Ensure everyone is safe. Make sure guest, clients, and employees are safe.

Alert 80

Alert Outage Insurance Insurance 80

Pure Storage

DECEMBER 6, 2021

The planning should also include critical infrastructures such as Active Directory and DNS. Continue forensics efforts and work in tandem with the proper authorities, your cyber insurance provider, and any regulatory agencies. Without these, other business applications may not come back online or function correctly.

Insurance 72

Insurance Insurance Authorization Application 72

Pure Storage

AUGUST 22, 2022

The malware infects or deletes Active Directory. . Active Directory (AD) is a top target for attackers because it forms the foundation of most organizations’ accounts and data assets. There are many options out there today and it’s important to vet your choice, have it on retainer, and validate it with your insurance company.

Backup 109

Backup Malware Architecture Resilience 109

Advancing Analytics

MAY 23, 2022

Auto-insurer Tokio Marine use computer vision system for examining damaged vehicles. In the insurance business, Tokio Marine, a Japanese-based property and casualty insurer use computer vision to analyse and evaluate damaged cars, speeding up the evaluation process. Source: isurancejournal.com.

Advertising 52

Advertising Retail Healthcare Transportation 52

Pure Storage

MARCH 21, 2024

2024 has already seen ransomware gangs targeting health insurance and services companies and profiting from their exploits. This activity is not unexpected. Many organizations in the healthcare industry today do not need to imagine this scenario because they have experienced it, either directly or indirectly. According to the U.S.

Healthcare 52

Healthcare Architecture Hospitality Cybersecurity 52

Advancing Analytics

AUGUST 26, 2021

Besides that, the financial industry is a vast sector that includes banks, building societies, e-money institutions, mortgage companies, investment banking, credit unions, insurance and pension companies. Interestingly, the insurance sector has 100% live machine learning applications in use.

Financial Services 52

Financial Services Banking Insurance Insurance 52

Stratogrid Advisory

JANUARY 6, 2019

Insurance companies assess risks to determine the insurance premiums they will charge. Potential risks, as an example, can include cyber-attacks, natural disasters, supply chain issues, active assailant situations, or any other event that can negatively impact your organization’s operations.

Impact Analysis 52

Impact Analysis BCM Continuity Planning BCP 52