Category Archives: Business Insurance Risk

Are You Playing Russian Roulette With The Insurance Related Provisions of Your Everyday Business Contracts?

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Many times company leadership does not put much thought to the importance of reviewing the insurance related provisions of their business contracts, but if there is a single message I want to make clear in this post, it is that mitigation of risk is essential. It is difficult to express in dollar value the importance […]

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Caveat Emptor: Let the Buyer Beware

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An article posted by Property Casualty 360 states a simple truth — Insurance contracts are complicated documents, especially for the average consumer. If you have ever gone through a disaster like a hurricane, flood, tornado, fire, power outage, or cyber attack you are probably familiar with the expression “Buyer Beware”.  In fact after Hurricane Sandy, […]

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Proposition 65: How are you exposed?

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Imagine your company receiving a 60-Day Notice of Violation related to California Proposition 65. Are you familiar with this Proposition? The Notice alleges that one of your products contains lead and as a result of the sale of this product, exposures to lead have been occurring without clear and reasonable warnings on the product as […]

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Approaches to Risk Management: Part 3 Enterprise Risk Management (ERM)

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In parts 1 (The Basic Concepts) & 2 (Digging Deeper) we gave you the “traditional silo” approach to risk management. Another school of thought we would like to share is ERM – Enterprise Risk Management. ERM is a framework to identify risk that typically involves identifying particular events or circumstances relevant to the organizations objectives […]

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Approaches to Risk Management: Part 2 Digging Deeper

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In part one of this series, Approaches to Risk Management: The Basic Concepts, we recommended you analyze your business risk management program from 7 major aspects. Beyond these basic concepts, some academic authorities suggest the following as necessary considerations in the development of a formal Risk Management Process as well. Assets & Exposures – it […]

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Approaches to Risk Management: Part 1 The Basic Concepts

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To get a flavor of where to start in the analysis of how to save time and money on an insurance program, a basic understanding of a few concepts is necessary. The first is the idea of “Risk Management”. Risk Management is the practice of protecting an organization from financial harm by identifying, analyzing, and […]

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