Risk Management Monitor

DECEMBER 5, 2022

As risk management professionals, these rapid changes have made our job more important than ever to our organizations. Yet the majority of our organizations—particularly in C-suites—remain far from giving risk management experts the seat at the table they need to effectively safeguard against enterprise threats, digital or otherwise.

Risk 76

Risk Cyber Building Crime 76

Jackson & Jackson

APRIL 30, 2024

Understanding Location-Based Risk Factors Location plays a pivotal role in determining insurance premiums for commercial properties. Various factors tied to a property’s geographic and socio-economic setting influence insurers’ risk assessments. Here’s how these factors come into play: 1.

Commercial Property 52

Commercial Property Property Insurance Commercial Crime 52

Frankenmuth Insurance

OCTOBER 10, 2024

Reduce your risks with these 13 retail store safety tips: Step up your security. Minimize crime with security cameras, ample exterior lighting, and alarm systems. Putting yourself in a robber’s shoes can help you make proactive adjustments and prevent crime. Setting up or running the small business of your dreams?

Crime 111

Crime Workers Compensation Commercial Agents 111

LexisNexis

AUGUST 6, 2024

Read now » Related Content Corporate Transparency Act (CTA) Resource Kit Get a brief overview of the CTA and regulations promulgated thereunder by the Financial Crimes Enforcement Network.

Crime 40

Crime Risk 40

Risk Management Monitor

JUNE 14, 2021

Because much of this is done through outsourcing of systems and services to third parties, many enterprises have dramatically increased the scale and complexity of their risk surface. In fact, research shows that only 14% of third-party risk professionals are confident that vendors are capable of meeting third-party security requirements.

Risk 69

Risk Cyber Building Claim 69

LexisNexis

OCTOBER 31, 2024

US "Over a decade ago, the Supreme Court ruled that the Sixth Amendment requires criminal defense counsel to advise her client whether a guilty plea carries a risk of deportation. citizen facing the risk of deportation following denaturalization to no less protection than a noncitizen facing the risk of deportation.

Crime 45

Crime Risk Claim Protection 45

Risk Management Monitor

DECEMBER 3, 2021

An increasingly key theme year over year, resilience is at the root of the latest Excellence in Risk Management India report from Marsh and RIMS—and the RIMS Risk Forum India 2021 virtual event , where the report was officially released today. They have crisis management plans in place, but they also dig deeper, look farther ahead.

Risk 45

Risk Building Business Interruption Cyber 45

Risk Management Monitor

OCTOBER 25, 2022

According to Beazley’s recent Risk & Resilience Geopolitical Report , inflation is a key area of concern for business leaders and they expect economic uncertainty to remain high through to the end of this year. With high unemployment and higher costs, this also poses a risk to employment practices liability (EPL) insurers.

Risk 40

Risk Business Interruption Insurance Insurer 40

Triple-I: Business Insurance

APRIL 4, 2024

Cyber incidents reported to the FBI’s Internet Crime Complaint Center (IC3) in 2023 totaled 880,418. Meanwhile, supply-chain attacks increased, and weak notification frameworks further increased cyber risk for all stakeholders. These attacks caused a five-year high of $12.5 billion in losses, with investment scams making up $4.57

Financial Loss 52

Financial Loss Cyber Crime Risk 52

LexisNexis

NOVEMBER 19, 2024

Read now » Related Content Risk of Cryptoassets—A Financial Crime, Money Laundering, and Terrorist Financing Perspective Review this practice note for an overview of cryptoassets from a financial crime, money laundering, and terrorist financing perspective.

Crime 40

Crime License Risk Protection 40

Frankenmuth Insurance

OCTOBER 31, 2024

If you’re currently having a problem with employee theft, consider high-definition cameras to vividly catch the crime. With these tips and the right insurance coverage, you can significantly reduce your risks. It’s common for businesses to have surveillance systems these days, so add enough measures to protect your business.

Theft 95

Theft Crime Protection Policy 95

LexisNexis

AUGUST 20, 2024

The rules are intended to strengthen and harmonize the European Union’s (EU) AML framework by including the crypto sector and establishing an authority for the supervision and identification of AML threats and risks. For a more detailed understanding, review this MLex article for analysis of the rules and requirements.

Crime 40

Crime Risk License Policy 40

Risk Management Monitor

JANUARY 5, 2022

Several studies have shown that around 50% of fraudsters are motivated by either monetary reward or benefits gained by committing a crime. You can use this information to identify potential risks early on, which could save your company millions in wasted spending.

Crime 97

Crime Financial Loss Risk 97

Freeway Insurance

OCTOBER 26, 2023

Insurance companies take into account things like traffic, crime, frequency of accidents and even the weather. So if you live in a city with a lot of traffic or in an area with more crime, your insurance may cost more than if you live in a quieter, safer place. Why Will I Pay More for My Car Insurance If I Live in an Urban Environment?

Crime 52

Crime Auto Insurance Theft Insurance 52

Risk Management Monitor

MAY 17, 2021

In addition, unsuspecting victims are at risk of receiving surprise tax bills because cybercriminals stole their identities and filed fraudulent claims for COVID-19 unemployment payments. The Federal Trade Commission warns that unemployment fraud puts workers at additional risk of identity theft crimes including tax fraud.

Claim 75

Claim Theft Crime Cyber 75

TGS

OCTOBER 3, 2024

Coastal homes in Florida, for example, face higher premiums due to the increased risk of hurricanes, flooding, and wind damage. Conversely, homes further inland or in areas with lower crime rates often benefit from lower insurance costs. The more risks your area poses, the more your insurance company will charge to protect you.

Premium 52

Premium Deductible Out-Of-Pocket Insurance 52

Protect Commercial Insurance

NOVEMBER 8, 2024

It provides protection against a plethora of risks, including property damage, liability claims, theft, and even employee injuries. Adequate insurance coverage ensures that your business is fully protected against potential risks that could harm its financial health.

Commercial Insurance 52

Commercial Insurance Commercial Premium Deductible 52

Cover4LetProperty

OCTOBER 1, 2024

If you fail to purchase landlord’s insurance, you are putting yourself at unnecessary financial risk, which could result in disastrous repercussions. Buy to let insurance is a specialised type of insurance that covers the unique risks faced by landlords. It typically protects against risks such as fire and floods.

Insurance 60

Insurance Insurer Insured Injury 60

TGS

OCTOBER 25, 2024

Insurance companies take this aging process into account when assessing risk, and as your home’s structure and systems age, the likelihood of a claim increases. What You Can Do: One way to counteract the higher costs of insuring an aging home is to invest in upgrades that can reduce the risk of claims.

Home Insurance 52

Home Insurance Premium Out-Of-Pocket Insurance 52

ProWriters

MAY 28, 2024

Read on for information you can use about cyber risks contractors face—as well as how a strong Cyber Insurance policy can help protect them. Why Contractors Face Major Risks From Cyber Attacks A construction firm or other contractor may not handle as much sensitive information as, say, healthcare providers or financial institutions do.

Cyber 52

Cyber Business Interruption Insurance Insurer 52

ProWriters

FEBRUARY 12, 2024

You can do much to help healthcare clients safeguard sensitive information, reduce their risk of data breaches, and respond effectively should one take place. Help Your Clients Respond to and Reduce Their Risk of HIPAA Breaches Knowing how to respond to healthcare data breaches is crucial, especially breaches occurring due to cyber crime.

Cyber 52

Cyber Liability Insurance Liability Protection 52

ProWriters

OCTOBER 2, 2024

Sure, you’ll need to assess the compromised data and financial losses, but to truly understand the breach and protect against future risks, data breach forensics is essential. Let’s break down the steps involved in a data breach forensic investigation and see how the experts pull back the curtain on cyber crime.

Cyber 95

Cyber Financial Loss Crime Damage 95

LexisNexis

SEPTEMBER 23, 2024

1 You should also consider whether specific uses of AI technologies by the AI Business import higher or additional risk (e.g., based AI Business. of the Model Rules of Professional Conduct concerning litigation technology competence, see > SOFTWARE REPRESENTATIONS AND WARRANTIES IN M&A AGREEMENTS (PRO-BUYER) (LONG FORM 1.

License 52

License Risk Liability Crime 52

Insurance Journal

JULY 22, 2024

Somali piracy — the scourge of merchant shipping more than a decade ago — has had a resurgence this year, the industry’s main observer of the crime said. There were eight acts of piracy and hijackings in the first half …

Crime 290

Crime Risk Marine Insurer 290

ProWriters

JULY 25, 2024

companies faced the risk of a significant cyber attack. Analysts project cyber crime to cost the U.S. AT&T Telecommunications company AT&T suffered a massive breach that exposed almost all of its 109 million customers to an increased risk of identity theft. more than $452 billion in 2024, potentially reaching $1.8

Protection 52

Protection Cyber Damage Broker 52

LexisNexis

NOVEMBER 19, 2024

excise tax on the sale of firearms, firearm parts, and ammunition, to fund support services for crime victims, mental health services for veterans and youth, and school safety programs. For example, Colorado proposed, and voters approved, an Excise Tax on Firearms Dealers, Manufacturers, and Ammunition Vendors, creating a new 6.5%

Crime 40

Crime Protection Risk 40

Risk Management Monitor

JANUARY 27, 2022

In a presentation at the RIMS TechRisk/RiskTech virtual event , Scott Stransky, managing director and head of the Cyber Risk Analytics Center at Marsh McLennan, outlined some of the key data that can help companies get a full view of their risk. and consider alternative terms and conditions.

Cyber 66

Cyber Underwriter Underwriting Risk 66

Risk Management Monitor

MARCH 4, 2022

A wide range of risks are trickling down from Russia’s assault on Ukraine , from sanctions compliance to supply chain disruption to business interruption. Concerns about escalating cyber activity around the crisis are a vivid reminder of the importance of knowing your threat model and adjusting your risk management priorities accordingly.

Cyber 56

Cyber Business Interruption Risk Policy 56

Bankers Insurance

JULY 8, 2024

If you consider the expense for any troubles your employees may encounter, travel insurance can be a cost-effective option to avoid that risk. For example, insurance for a $2,000 trip may cost $80 to $160. Additionally, the U.S.

Workers Compensation 52

Workers Compensation Insurance Insurer Insured 52

Risk Management Monitor

SEPTEMBER 1, 2022

Each organization’s security strategy also needs to align with its specific business risks. Performing risk assessments will allow employers to determine where they need to invest in cybersecurity. Once an organization’s risks are assessed, it can create a plan to suit these needs. Prioritize Investments in Cybersecurity.

Protection 58

Protection Risk Liability Damage 58

Scott Insurance

SEPTEMBER 27, 2022

The FBI puts out a report ever year called the IC3 Cyber Crime Report. – Robb Harvey What are some misconceptions about cyber risk? – Corey Ross What can a business do to minimize risk when selecting a benefits technology partner? The number one threat every year is business email compromise.

Cyber 52

Cyber Risk Crime Insurance Companies 52

Risk Management Monitor

JUNE 11, 2021

Data security spans two areas of organizational risk: unauthorized data use and privacy issues associated with authorized data processes. When evaluating an identity management strategy, it is imperative to start at a high level, which includes data access governance to limit access and meaningfully reduce the risk of loss or theft.

Risk 49

Risk Cyber Protection Theft 49

Risk Management Monitor

JUNE 17, 2022

Ransomware attacks have proven a particular risk in recent years, with attacks like the Colonial Pipeline and myriad attacks on health care organizations demonstrating the serious impact of cyberattacks beyond financial risks, affecting everyday life and business operations. Ransomware and other cyberattacks are always evolving.

Protection 76

Protection Cyber Risk Crime 76

Risk Management Monitor

DECEMBER 20, 2022

Review Provider Invoices and Reports: Risk professionals can spot potential fraud cases and fraud trends by closely reviewing provider invoices and reports and scrutinizing those invoices that are close to, but not at the top of, typical billing charges. So, how can we pin down provider fraud?

Workers Comp 40

Workers Comp Workers Compensation Compensation Claim 40

Risk Management Monitor

DECEMBER 29, 2021

With the risks reporting presents, it is likely to be the most engaged, loyal employees who report, so you risk losing your best if you fail to listen. Those who come forward may also fear that their company may not care about the reported issue or try to cover it up, and maybe even retaliate against them.

Building 80

Building Risk Crime 80

Property Insurance Centre

MAY 20, 2024

While standard block of flats insurance policies may not include Terrorism cover , it is an important consideration, especially for properties situated in high-risk areas. Location : Geographic location impacts risk assessment for natural disasters, crime rates, and other hazards.

Building 52

Building Liability Liability Insurance Insurance 52

Property Insurance Centre

JULY 30, 2024

This includes insurance for the building itself, liability risks, and coverage for lost rental income. 4 By looking at criminal records, landlords can understand any safety or risk issues. 3 The FTC says it’s fair to refuse a rental applicant based on low income, credit scores, eviction or crime history.

Building 52

Building Property Insurance Policy Commercial 52