This message contains images. If you don't see images, click here to view.
Advertise in this news brief.

Text Version    RSS    Unsubscribe    Archive    Media Kit |   RIMS Buyer's Guide:      

Home   Membership   Education   Events   Resources   External Affairs      March 11, 2014

Specialty Property and Casualty Programs and Products


Is the cloud the next stop for enterprise risk management?
Could enterprise risk management become a common cloud-based service at most government agencies? It's an idea being explored by other industries, especially within the financial management and manufacturing sectors. There's a good chance that the idea could take root in the public sector too.
   Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article

This is business leaders' greatest fear
IT disasters like cyberattacks and telecommunications outages are global business mangers' greatest concerns, topping natural disasters, terrorism and increased regulation, according to a survey recently published. More than three-quarters of respondents were most frightened by the possibility of unplanned IT or telecommunications outages, the Business Continuity Institute, a U.K.-based consultancy, and the British Standards Institution found. Meanwhile, 73 percent of the 690 business leaders surveyed said they were worried about cyberattacks or data breaches.
Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article

See related story: How retailers can take a proactive approach to data recovery (Multichannel Merchant)


What risk managers look for in a broker
In the realm of relationships, the bond between risk managers and their insurance brokers is right up there with that of patient/doctor or lawyer/client. Many of these relationships last as long — or longer — than the average marriage, and the good ones are built on many of the same elements: Trust, growth, reciprocity and good communication. But unlike a personal relationship, the risk manager/broker bond leaves no room for error. A communication misstep on the part of either party could result in a coverage gap that could prove financially devastating for the client, and in turn get the broker tossed out the door.
Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article

One emerging market to buy
Investors can't bail fast enough on emerging markets at the moment. And rightly so, given the potential for further problems as highlighted in a recent post, Emerging Market Banking Crises Are Next. But the indiscriminate sell-off of emerging markets also opens up some potential opportunities. Asia Confidential thinks South Korea stands out as one such opportunity.
Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article

  Advanced Degrees in Health Care Transformation
The health care industry is seeking professionals with technology skills. According to the U.S. Bureau of Labor Statistics Occupational Outlook Handbook, 2012-13 Edition, nearly 200,000 professionals are needed in technology related health care occupations. Propel your career with a supportive, accredited online university. Focused on health care, American Sentinel offers management, informatics and technology degrees designed for busy professionals seeking relevant education. Your success is our passion!

Stop social media from blowing up in your startup's face
Social media offers startups a powerful platform to cost-effectively market their products and services, get their brand recognized, and engage with a wide audience of customers. Yet social media also throws up multiple risks. Many of these risks — be they security and privacy risks, compliance risks, or reputational risks — are not new. However, companies have become more vulnerable to these risks due to social media's real-time dissemination of information and broad reach.
Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article
Looking for similar articles? Search here, keyword(s): Social media risks for startups.


GAO: Climate change poses serious risk to American energy systems
America's energy infrastructure is dangerously vulnerable to the impacts of climate change, according to a new report released by the nonpartisan Government Accountability Office. The report breaks down in detail how all aspects of our energy infrastructure — from extraction through transportation through distribution — are even now being compromised by rising seas and water shortages and more extreme weather events and other impacts of climate change.
Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article

QBE Diversifies

Expand your opportunities with a company that offers a diverse and specialized North American insurance portfolio, including Property & Casualty, Crop, Program & Specialty, Financial Services and Reinsurance.
MSP Compliance

Are future medical and pharmacy costs preventing settlement? Tower MSA Partners is uniquely positioned to identify, intervene and mitigate exposure prior to MSA preparation, saving millions in both claim and MSA costs for its clients.

Economic recovery on track, but still slow and steady
CNNMoney via KCRA-TV
It was easy to get excited recently when the government's jobs report showed hiring picked up more than expected in February. But it's all relative. The report looked great only because economists had been forecasting weaker numbers due to harsh winter weather. The recovery may now be back on track — but it's still just a slow and steady one. "Fundamentally, the economy has not changed - we're just having to absorb an unusually severe winter," said Dean Maki, chief U.S. economist for Barclays.
Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article

  ACL GRC: Governance, Risk, Compliance Simplified
GRC doesn’t have to be clunky or spreadsheet-intensive. ACL GRC offers a fresh way to help you improve the efficiency and effectiveness of GRC activities. Our cloud-based solution is simple, flexible, cost-effective and suitable for nearly any organization. Watch a quick demo video!

Risk management guidance on third-party relationships
Examiners have always expected banks and credit unions to perform appropriate vendor due diligence prior to engaging a third party. But with October 2013 guidance, "Third-Party Relationships", the OCC provided definitions and guidelines for OCC banks as a risk management framework.

Share on FacebookTwitterShare on LinkedinE-mail article
read more
Uncertainty around TRIA renewal pushes premiums up
Insurance industry representatives again urged Congress to extend the Terrorism Risk Insurance Act, telling a Senate panel that uncertainty surrounding its renewal is already causing premium increases.

Share on FacebookTwitterShare on LinkedinE-mail article
read more
The enemy within: Fraud
The Economist
Business has always been plagued by fraud. Some frauds are committed by people at the top. Others are committed by hired-hands lower down the organization. But all frauds involve abusing people's trust and diverting corporate resources for personal ends.

Share on FacebookTwitterShare on LinkedinE-mail article
read more

AIG: The logical place for catastrophe risk is the capital market
The logical place for peak natural catastrophe risks lies in the global capital markets, not the traditional reinsurance market, according to Samir Shah, Chief Reinsurance Officer of insurer AIG. The 144A catastrophe bond market was originally devised as a way to take the peak natural peril risks, the ones which insurers and reinsurers did not want to hold on their books or transfer internally within the reinsurance market, and transfer them out to the largest source of available capital, the global capital markets and its institutional investors.
Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article

What an Effective RMIS Should Be

Minimize the impact of risk with a RMIS that delivers the right information to the right people, to enable real time and predictive analysis at the right time. Let JDi Data create a risk management system that gives your business a new approach to governance, risk & compliance. 954-938-9100 MORE

A crisis of communication: When PR and legal clash
Marketing Interactive
Likely the worst PR disaster in recent history, BP's massive Gulf of Mexico oil spill cost the company deeply. The 2010 incident is unfortunately now a painful case study of a crisis communications failure. PR industry players are arguing that the incident was a perfect pivotal point for change in the age old public relations and legal tussle. While both functions have the same objectives: Resolve the crisis quickly and save the company's reputation (and money), legal tends to view these objectives through a defensive and cautious prism. However for the PR function, crisis is often seen as an opportunity for the company to demonstrate that it believes in and live its mission statement.
Share this article:   Share on FacebookTwitterShare on LinkedinE-mail article

Missed last week's issue? See which articles your colleagues read most.

    Business continuity saves businesses (Channel Partners)
Business owners ignore fire protection system at great risk
(Herald Business Journal via The Everett Herald)
Tax reform plan includes controversial reinsurance tax (Business Insurance)
Does your BYOD policy really cover all the bases? (HR Morning)

Don't be left behind. Click here to see what else you missed.

Colby Horton, Vice President of Publishing, 469.420.2601
Download media kit

Lisa Smith, Senior Content Editor, 469.420.2644 
Contribute news

Be sure to add us to your address book or safe sender list so our emails get to your inbox. Learn how.

This edition of the RiskWire was sent to ##Email##. To unsubscribe, click here. Did someone forward this edition to you? Visit to learn how you can sign-up to receive RiskWire.
Recent issues

50 Minthorn Blvd., Suite 800, Thornhill, ON, L3T 7X8