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Home   Membership   Education   Events   Resources   External Affairs      April 01, 2014

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Cyber insurance: Just one component of risk management
The Wall Street Journal
Spurred on by recent high-profile cyberattacks, a growing number of businesses are willing to shell out tens or even hundreds of thousands of dollars in annual cyber insurance premiums. Responding to this growing demand, insurers rolled out 38 new cyber insurance products in 2013, up from 32 in 2012, according to insurance analyst Advisen Ltd. But risk management entails much more than simply transferring risks.
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Catastrophe bonds: An idea whose time has come
The Financial Express
Adopting new technology may be challenging and even disruptive. But it has been proved that the future belongs to those who anticipated change and prepared themselves for challenges to stay ahead of the curve. The world is moving from localized wealth or asset creation to more inclusive economy. As every location has high-value assets and human lives, the risk of natural catastrophe wiping them out are much higher.
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Banks developing new best practices in risk management
Futures Magazine
Driven by the fallout from the financial crisis and increased regulatory scrutiny, the risk function at financial institutions is shifting from its traditional focus on measurement, compliance and control to providing a forward-looking view at the heart of decision making, in the boardroom and throughout the organization. These are among the key findings of a global survey of more than 50 banks, representing 42 percent of global banking assets, conducted jointly by McKinsey & Company and the Risk Management Association to determine the current state of banks' enterprise risk management practices and core capabilities.
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Risk management lessons from the big guys
Risk management has been a common topic for the electronics supply chain for a long time. Recently, though, supply chain risk management chatter has reached an all-time high. Perhaps the intense interest has been driven by extreme events in the past year, such as natural disasters (hurricanes, tsunamis, etc.), as well as emerging threats and systemic vulnerabilities (oil dependence, armed conflicts, etc.). "The risk becomes more complex as supply chains are more global in nature," said Richard Waugh, vice president of corporate development at Zycus, a procurement solution vendor.
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Push is on against long-term-unemployment discrimination
Human Resource Executive Online
With momentum picking up nationwide in the quest to eradicate discrimination against the long-term unemployed, employers are being advised to take the necessary steps to make sure they're on the right side of the issue, and the law. The latest call to arms in this war against such discrimination came Feb. 19, when the U.S. Department of Labor announced the availability of about $150 million in grants to prepare and place those facing long-term unemployment into jobs. About 20 to 30 grants ranging from $3 million to $10 million would be awarded to programs focused on individual counseling, job-placement assistance and work-based training that facilitate hiring for jobs in which employers currently use foreign workers on H-1B visas.
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Looking for similar articles? Search here, keyword(s): Discrimination in the workplace.

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6 best practices for implementing and enforcing social media policies
Everyone is on social media these days, including your employees. Not surprisingly, companies can be held vicariously liable for legal and regulatory issues arising from their employees' social media use, such as defamatory or discriminatory social media messages to harassing Facebook comments or tweets. Companies are also exposed to employee leaks of sensitive company or customer information, or the improper use of the employer's intellectual property and trade secrets. In light of these significant risks, developing a social media policy makes business and legal sense.
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How smart business can help solve 'the world's largest environmental risk'
The Huffington Post
We all knew air pollution was a major killer. But the latest research from the World Health Organization is shocking. It has found that in 2012 alone, 7 million people died as a result of exposure to indoor and outdoor air pollution, one in eight of total global deaths. According to WHO, "This finding more than doubles previous estimates and confirms that air pollution is now the world's largest single environmental health risk." So, what is the role of business in making things better, apart from polluting less themselves and increasing eco-efficiencies? Can R&D departments across the world start developing products and services that help to clear the air?
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How a business continuity solution is helping to save lives in Scotland
Computer Business Review
The Scottish Fire and Rescue Service, the frontline emergency response service for all of Scotland, has deployed new software to standardize its data management infrastructure across more than 400 locations.

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Pay-if-paid clauses: An attempt to shift the risk of nonpayment
By Nate Budde
Pay-when-paid and pay-if-paid clauses are pretty common in the construction industry. So what do they actually do, how effective are they, and how did they come about? This article will attempt to provide some answers to those questions.

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Legal marijuana and the workplace: Legally high, legally fired for pot use
Workplaces in Washington and Colorado are adjusting to noticeable shifts — some cumbersome, others unexpectedly profitable — since marijuana became legal for adults 21 and older in those states more than a year ago.

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Workplace safety risks primary concern for small business
For small business owners, keeping employees safe at work is a major concern, according to a survey by EMPLOYERS, a specialty provider of workers' compensation insurance and services. The survey revealed that workplace safety risks were cited as the greatest worry for business owners, with 35 percent of survey respondents citing it as their primary concern. Other top concerns are professional liability risks (26 percent) and cyber security risks (25 percent). Workplace safety is also an issue that survey correspondents plan on spending the most time addressing in the coming year, according to survey results.
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See related story: Does your business put you at risk of lawsuits? (Entrepreneur)

Kentucky Senate budget would cut state mining inspections
Kentucky's mine inspectors would be required to spend less time examining coal operations under language inserted in the state Senate's budget proposal. Mine-safety advocates say fewer inspections would raise the risks for miners. State law requires that each mine be inspected six times yearly by state regulators. That number would be pared to a required two annual inspections under the Senate's plan. The Senate also voted for deeper spending cuts for the state's mine safety and licensing office than the House approved.
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Missed last week's issue? See which articles your colleagues read most.

    Risk leaders go beyond resilience management (Baseline Magazine)
A critical perspective: Counting the costs, and benefits, for business continuity
(Continuity Central)
Social media: What is the policy where you work? (Social Justice Solutions)

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Colby Horton, Vice President of Publishing, 469.420.2601
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Lisa Smith, Senior Content Editor, 469.420.2644 
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