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Mar. 21, 2013

MexiPass International Insurance Services, LLC

MexiPass is the leading MGA, Underwriting Manager & Risk Management Solutions provider for risks of American entities in Mexico.


Shifting from compliance-based IT security to a risk-based model
In the ever evolving threat landscape that is IT security, some security executives have become so focused on taking an approach that meets compliance requirements that their attention has become diverted away from some of the actual risks facing their respective organizations. Obviously complying with rules and regulations set forth is important, but some organizations are making it the primary guiding principle of their security program.
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JPMorgan, other banks scale back risk models
Fox Business
Global banks are spending hundreds of millions of dollars to install elaborate computer models to measure risk and make sure they are adequately capitalized. Under Basel III regulations, banks can shrink their risk-weighted assets — and boost profits — if they can build a model to prove the bond or loan is not so risky. While banks can use these models legitimately, they can also be tweaked to try to game the system, said Adam Compton, a portfolio manager at Atlanta-based hedge fund GMT Capital Corp.
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Business continuity benefits growth too
Supply Management
The British Standards Institution says there is "huge potential" for organizations to benefit from business continuity management — a risk mitigation tool to ensure the continued operation of a business if faced with unexpected events and adversity. Marking the beginning of Business Continuity Awareness Week, which runs from 19-23 March, BSI global business continuity expert Lorna Anderson said: "Companies need to be braver and recognize the broader benefits that BCM can bring. Any organization that has an acute understanding of business risks, a solid back-up plan and tried and tested processes already in place is going to be well positioned to propel its business forwards."
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Missed last week's issue? See which articles your colleagues read most.

    Top 10 loss control tips for 2013: Job hazard analysis (By Dennis Truitt)
Mainstreaming disaster risk management (World Bank Group)
6 retail loss prevention trends for 2013 (Retail's BIG Blog)
Changing technologies and behaviors: The social media imperative (Business 2 Community)
Survey: Business centers benefit from business interruption product strategies (Officing Today)

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

Reduce Your Electrical Safety Risk

AVO® Training Institute, a Megger® subsidiary, celebrates its 50th year keeping people safe from electrical hazards. From equipment application and maintenance procedures to safe work practices, arc flash hazard analysis and engineering services; AVO is the complete one-stop-shop learning center. Our difference is our hands-on approach to safety training. MORE
Pharmacy Benefit Management

IPS has a comprehensive suite of PBM services structured to provide the highest quality prescription health services at cost containment prices while streamlining and simplifying the claims management process for adjusters. IPS also provides ancillary healthcare services to injured workers and policyholders in need of durable medical equipment and supplies, home healthcare, home therapy including physical, occupational, and speech, and transportation and language services through a single touch point. MORE
VRC - Social Media Investigations

Veracity Research Company’s proprietary software solution Investigative Management System (IMS) contains over 2 million lines of code, 7 unique services platforms and 8 years of development by a dedicated development team. IMS is fully customizable to your needs, whether it be Vendor Management, SIU Oversight, Business Intelligence Case Management or simply Consolidate Communications. MORE

Top 10 loss control tips for 2013: Hand/finger safety programs
By Dennis Truitt
Regardless of the situation, it is always important to protect your hands and fingers. This is the part of the body that is most likely to be injured at work. Even with glove improvements and campaigns to increase hand and finger safety, it is still essential to have a hand and finger safety program readily accessible and widely distributed. Enhance your hand/finger safety by implementing a hazard recognition and assessment program. This program should clearly identify pinch points, hot spots, rotating equipment and automated machinery.
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Industry Pulse: Does your company feature a hazard recognition and assessment program for hand/finger safety?

Previous Industry Pulse: Do you have job hazard analyses for specific tasks in your work environment?

Top 5 catastrophe bond market trends
Innovation is at the heart of catastrophe bonds. From their origin — an exercise in innovation itself — through the development of new triggers and diverse structures, these instruments have brought increased capital flexibility to the insurance and reinsurance industry. To be successful, however, innovation must remain a practical matter, addressing the needs of a wide range of carriers.
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SRM Is Your Global Recovery Partner

ServiceMaster Recovery Management is your single source solution for disaster readiness and rapid response. We are always ready. Now you can be too. MORE
INFORM - RMIS Reporting and Intake

INFORM offering RMIS, Claim Predictive Modeling, Claim/Incident Management, Litigation, Claim Audit, Policy/Exposure Management, Certificate of Insurance Tracking, OSHA, Loss Prevention, Safety Surveys, RIMS Booth #635

Why hiring interns is more dangerous than ever — and how to stay safe
HR Morning
If you're like a lot of employers, you're deep into the process of trying to find those potentially stellar summer interns. The following are tips on finding the best ones — and risks you'll need to look out for.
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Break up executive pay, not the banks, to fix too-big-to-fail
The Huffington Post
Here are three business facts: 1) corporate profits are exploding and the stock market is soaring but most of this wealth is accumulating only to the wealthiest Americans; 2) despite intensifying pressure to break up the big banks, the U.S. government is hesitant to act and; 3) Europe is considering stringent new measures to curb out-of-control executive pay. Taken separately they are just news headlines but considered together they might contain a cure for the worst disease infecting our economy today: too-big-to-fail.
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Ignore cloud security assessment at your own risk
Companies that deploy software-as-a-service (Saas) often don't know everything about the security provisions their SaaS providers and partners have in place. Experts say it's because they don't know what to ask, they don't know what to test and they no longer know what's standard for a cloud service provider contract.

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ERM: The basics
Natural disasters, political instability, data breaches, financial calamity — even asteroids — the sources of risk are on the rise and are increasingly unpredictable. And in an age of increasing regulatory compliance, not to mention cost sensitivity, it's even more important to get the job of risk management right.

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Top 10 loss control tips for 2013: Job hazard analysis
By Dennis Truitt
Now that you have identified the potential risks posed to your firm, it is time to dig a little deeper. Begin the process by using a standardized checklist to make sure that everyone is using the same system and is on the same page. Your goal to get the program off the ground should be creating comfort with the process of analysis.

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Report: Demand for cyber-attack insurance jumps 33 percent
Fox Business
The number of U.S. companies buying insurance to protect against a cyber attacks and data breaches jumped 33 percent last year at insurance broker Marsh Inc., making cyber risk one of the fastest growing lines of coverage, the company recently said. With revelations of cyber attacks dominating the news in recent months, the Marsh report is the latest sign that corporate America is growing more concerned about the potential damages that can arise when companies lose control of customer information.
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Internal audit survey shows organizations without social media policy face 'plague' of unnecessary risks
CPA Practice Advisor
Internal audit professionals are adjusting rapidly to new challenges in a changing business environment and prioritizing social media, fraud risk and data analysis tools as key areas for improvement in the year ahead, according to the 2013 Internal Audit Capabilities and Needs Survey Report. While the seventh annual edition of the study surveyed more than 1000 internal audit professionals about their technical and audit process knowledge, a key focus of this year's report was on social media usage and related audit processes and policies.
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Risk management: Running a tight ship
The old expression about getting one's sea legs speaks to how different life can be in the ocean marine environment. Those who spend most of their time on land often need to adjust to the rhythms that are second nature to old sea hands. Similarly, any company that operates both on land and water needs to adjust its risk management strategies to account for exposures in both arenas. That can range from something as simple as making sure land-based workers have the right protective equipment when they move to the waterfront, to something as complex as coordinating insurance coverage to minimize the possibility of gaps or unexpected liabilities.
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Supply chains may go hungry
Business Review Europe
It is expected that 70 percent more food will be needed to feed the world within the next 40 years, as the world's population continues to increase, purchasing behavior evolves, and consumers demand a wider range of food products. This rise in consumption will place even more importance on global supply chains. Many organizations are not equipped to ensure efficient supply amid the challenges that lie ahead within the food market. For example, the pressure on the supply chain means that some businesses struggle to fulfill their customers' requirements. In these cases a customer is likely to turn to the nearest competitor who can sell them the item immediately. The threat of not being able to meet food demand is therefore a growing concern within the supply chain.
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Colby Horton, Vice President of Publishing, 469.420.2601
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