Risk Management Monitor

DECEMBER 17, 2021

While Karen Clark & Company has estimated that the insured loss from the tornado outbreak will be about $3 billion, and credit rating agency Fitch predicted that losses would total $5 billion, Dr. Joel N. Across the entire affected region, 750,000 customers were left without electricity.

Insurance 79

Insurance Insurance Outage Pandemic 79

Disaster Safety

DECEMBER 23, 2021

In case of a power outage, follow these guidelines when using a generator: Using a generator poses certain risks that must be addressed for safe operation, including fire, damage to electrical equipment, and even injury or death to those operating the generator or inside the home. Clean off your roof to prevent ice dams or snow load issues.

Alert 145

Alert Outage Insurance Insurance 145

MHA Consulting

MARCH 2, 2023

An organization that can undergo an outage of five days at no great cost is justified in having a high risk tolerance. An organization that would suffer a large impact as the result of an outage of two hours should be willing to tolerate very little risk. Where risk tolerance is high, controls can be relaxed.

Mitigation 75

Mitigation BCM Acceptable Risk Risk Management 75

MHA Consulting

MARCH 23, 2023

However, companies that need to be able to demonstrate a high level of recovery capability and competency—and where outages of even a couple of hours have the potential to cause serious impacts to the organization’s revenue, reputation, and stakeholders—would likely benefit greatly from learning about FFIEC and trying to meet its requirements.

BCM 74

BCM Impact Analysis Business Continuity Banking 74

Pure Storage

JULY 6, 2021

They do their research, they know what data you have (and what data you want to protect), they know who your customers are, and they even know where you purchase your security insurance. Second is a disturbing trend of late: targeting essential service providers that lead to massive outages and widespread disruptions.

Insurance 92

Insurance Insurance Backup Healthcare 92

Pure Storage

FEBRUARY 28, 2022

If you’ve suffered a breach, outage, or attack, there’s one thing you should have completed and ready to go: a staged recovery environment (SRE). Insurers may not let you use it. This should be set up in advance, tested, and in a ready state to be transitioned into quickly after an event. Internal teams may need it.

Backup 98

Backup Application Outage Insurance 98

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. Everything BC does is about reducing risk; in this way its priorities dovetail with those of the risk management folks.

BCM 88

BCM Risk Management Business Continuity Strategic 88

Disaster Safety

DECEMBER 23, 2021

In case of a power outage, use your generator. Watch for signs of snow load damage, such as creaking sounds, a sagging roof, cracks in the ceiling or walls, water stains and door or windows that no longer open and close correctly. Permanent generators are more self-sufficient but should be monitored periodically while they are in operation.

Alert 80

Alert Outage Insurance Insurance 80

Swan Island Network

NOVEMBER 8, 2017

You’ve undoubtedly read about or experienced the Delta outage this week; you might be sitting in an airport reading this right now! The company has to exercise, including with vital partners, ahead of time to insure everyone knows the drill, and how to take the place of someone not around. When the Ship Goes Down, You Need a Lifeboat.

Outage 52

Outage Insurance Insurance Risk Management 52

Solutions Review

JUNE 16, 2023

A majority of information that is backed up from that data lake requires only 30 days of retention for operational recoveries, but the data lake may also contain health records that need to be retained for 6 years to comply with the Health Insurance Portability and Accountability Act (HIPAA).

Resilience 52

Resilience Backup Architecture Cybersecurity 52

Pure Storage

AUGUST 2, 2021

The documentation should also focus on critical infrastructure that can be rapidly restored in an outage since other applications depend on it. Also, include cyber insurance providers that can explain coverages and limitations. It should include details on which apps are tested, how frequently, and what the results are.

Benchmark 97

Benchmark Cybersecurity Application Vulnerability 97

Pure Storage

JULY 12, 2021

But even internally, an outage can be disastrous. The city had to spend $10 million on recovery efforts, not including the $8M in lost revenue from a two-week outage of bill payment systems and real estate transactions. Data from ESG research shared during Pure//Accelerate® Digital 2021. What Happens If You Do Pay the Ransom?

Backup 69

Backup Outage Authentication Architecture 69

everbridge

MARCH 7, 2022

The disaster recovery plan must also contain a contingency plan: What is plan B in the case of an outage, who will guide personnel through plan B, and how will employee training be conducted? After all, a plan only works if the workforce can follow it.

Disaster Recovery 72

Disaster Recovery Continuity Planning Business Continuity Crisis Management 72

Pure Storage

JULY 17, 2023

Deploying a clean energy infrastructure to build in another layer of resilience from increasing energy costs and outages. FIPS or SOC 2 Type II ) The government is also exploring the possibility for a cyber insurance “backstop” fund to help with catastrophic security events. Training everyone to be a security expert.

Cybersecurity 98

Cybersecurity Resilience Architecture Backup 98

MHA Consulting

APRIL 20, 2023

Over time, we see risks go down, the number of outages decrease, and insurance and other costs decrease. BC departments that “speak risk” tend to get more of a hearing, more traction, and more resources. Second, using the risk maturity model pays. I’ve seen it here at MHA and over and over again at our clients.

Resilience 52

Resilience Risk Management Mitigation BCM 52

MHA Consulting

APRIL 20, 2023

Over time, we see risks go down, the number of outages decrease, and insurance and other costs decrease. BC departments that “speak risk” tend to get more of a hearing, more traction, and more resources. Second, using the risk maturity model pays. I’ve seen it here at MHA and over and over again at our clients.

Resilience 52

Resilience Risk Management Mitigation BCM 52

Castellan

SEPTEMBER 8, 2021

According to the 2021 Business Continuity Management Event Impact Report , there are the top five events that led to business continuity response and recovery plan initiation in 2020: Pandemic/disease: 79% Power outages: 49% Hurricanes: 38% Fire/wildfires: 35% Cyber-attacks: 29%. What is This Year’s National Preparedness Month Theme?

Business Continuity 52

Business Continuity Disaster Preparedness Response Plan Resilience 52

Solutions Review

SEPTEMBER 14, 2021

This course also includes two case studies of what happens when risk management fails, as demonstrated by the Amazon Web Services outage and Equifax data breach that both occurred in 2017. GO TO TRAINING. TITLE: Enterprise Risk Management. None of these things have anything to do with proper risk management.

Risk Management 98

Risk Management Management Government Vulnerability 98

Erwood Group

JANUARY 28, 2024

Another is through gaining insurance coverage without increasing the premium from the provider. Local disruptions, such as power outages or supply chain issues, can have a significant impact, emphasizing the need for preparedness at every level. Myth 14: Business Continuity is a Luxury for Profitable Organizations Only.

Business Continuity 52

Business Continuity Disaster Recovery Continuity Planning Crisis Management 52

Castellan

DECEMBER 1, 2021

Identify likely causes of failure and protections against failure Some causes of failure are pervasive across every critical activity, such as natural disasters or power outages. This frequently resides under the CFO with a Director, such as Director of Risk Management or Insurance.

Business Continuity 40

Business Continuity Management Activation Risk Management 40

MHA Consulting

MARCH 21, 2024

A company called Change Healthcare, which is the largest electronic clearinghouse for medical insurance payments in the country, was struck by hackers who stole patient data and encrypted company files, demanding payment to unlock them. health care system in American history.” Data breaches generally do not affect day-to-day operations.

Healthcare 52

Healthcare Hospitality Resilience Insurance 52

Erwood Group

APRIL 5, 2022

Due to the outage, he was unable to execute a trade to exit a position and lost $70,000.00 Obtain better insurance rates and coverage for instant Return on Investment (RIO). Potentially reduced insurance premiums along with increased insurance coverage. Even a trader was impacted by a power loss at his home.

Impact Analysis 52

Impact Analysis Insurance Insurance Disaster Recovery 52

Reciprocity

SEPTEMBER 30, 2022

The pain is felt by the healthcare organization when a vendor has an outage because of ransomware or another cybersecurity intrusion. One such attempt by defenders is the Health Insurance Portability and Accountability Act (HIPAA) , a law formulated to help protect patient data and secure healthcare organizations.

Healthcare 52

Healthcare Management Risk Management Vulnerability 52

Solutions Review

MARCH 31, 2023

Securing your data is just the start: once you have a data protection strategy in place, it’s critical to consider recovery of that data should any disruption, outage, or cyber-attack occur. This includes the availability of emergency backup services, such as batteries and generators, in case of power outages.

Backup 119

Backup Disaster Recovery Application Security 119

Disaster Recovery Journal

AUGUST 5, 2020

Unexpected power outages and equipment failures were familiar events that crippled technology but not manual procedures. The firm had an advantage in understanding the legal frustrations surrounding insurance claims, city investigations, and client services. The structure of a partnership allowed multiple layers of decision-making.

Business Continuity 130

Business Continuity Disaster Recovery Continuity Planning Technology 130

Stratogrid Advisory

JUNE 3, 2020

An added benefit to a more resilient organization will be lower insurance rates These are just a few examples. Insurance companies assess risks to determine the insurance premiums they will charge. Investment firms assess risks to determine where and how to invest their client's money. manufacturing facilities).

Business Continuity 52

Business Continuity BCM Impact Analysis BCP 52

Stratogrid Advisory

JUNE 3, 2020

Business insurance needs – some business interruption policies are requiring organizations to implement business continuity programs. An added benefit to a more resilient organization will be lower insurance rates. Insurance companies assess risks to determine the insurance premiums they will charge. ARTICLE SECTIONS.

Business Continuity 52

Business Continuity BCM Impact Analysis BCP 52