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Home   Membership   Education   Events   Resources   External Affairs      April 22, 2014

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Social media and crisis management: Be present in times of trouble
Business 2 Community
Social media is a useful tool for almost any company, whatever its industry, purpose or relationship with customers. Yet in times of crisis, social media is invaluable. Not only does it enable companies to keep customers reassured through 24-7, real time support; it also makes it possible to address large numbers of customers at any one time, answering questions; giving frequent updates and giving time-relevant advice.
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Cut health costs with risk management
Columbus CEO
Imagine for a minute that you own and manage a fleet of 100 delivery trucks. Part of your employment policy requires your drivers to take their trucks to the local Quick Lube every 5,000 miles for an oil change and maintenance. One year after implementing the maintenance program, 10 trucks have been turned in for service with a blown engine. Your fleet manager audits the drivers’ records and finds out that 90 percent of the drivers NEVER brought their trucks in for scheduled maintenance. Employees who are reckless with their own health and ignore scheduled maintenance (regular physical exams and biometric tests) are going to "break down" like the trucks. These breakdowns (heart attacks, strokes, diabetes, cancer, etc.) can cost hundreds of thousands of dollars.
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Collect, analyze and protect your company's data
The Washington Post
Many of the new trends in marketing, financing and recruiting share a common theme — they're all driven by data. Now even the smallest companies are collecting and storing large swaths of information, which can be used to make more informed business decisions. Moreover, your employees can access and share that information anytime from anywhere, and that can and increase your efficiency. Of course, it increases the number of risks, too.
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US for improving worker safety
The Daily Star
The U.S. is continuing to press the Bangladesh government to fulfil a labor-related action plan designed to restore the country's eligibility for the Generalized System of Preferences, say administration officials. Some progress has been made but more needs to be done, U.S. officials in Washington said in a recent conference call with reporters in advance of the first anniversary of the Rana Plaza collapse on April 24.
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  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!

Warmer weather means increased numbers of workplace injuries, deaths from falls
The Lane Report
With warmer weather comes an increase in workplace deaths and injuries because of falls. Falls are the most common fatal hazard in the construction industry. Each year in the U.S., falls kill more than 200 construction workers and seriously injure 10,000 more. "With proper training and equipment use, we can minimize the tragedies that happen all too frequently," said Kentucky Labor Cabinet Secretary Larry Roberts. Falls have accounted for nearly half the construction deaths in Kentucky from 2011 to present. The Labor Cabinet is working in conjunction with Federal OSHA's efforts to raise awareness for fall prevention.
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Missed last week's issue? See which articles your colleagues read most.

    The automobile industry and integrated risk management (ebiz)
10 risks that can break your business (Silicon India)
Who is to blame for an unreported injury? (WorkersCompensation)
Insurance risk managers draw on unstructured data (

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Report says app risk management should fall to business stakeholders
Search Security
According to a just-released report, keeping business applications both accessible and secure is increasingly tricky as the number of applications within businesses rises. The survey showed that infosec professionals want managers on the business side of the house to get more active in the app risk management process. The vast quantity of apps for some organizations is creating a number of headaches for security and network professionals, according to the report, as just over half of the respondents indicated the biggest challenge was simply identifying and prioritizing critical vulnerabilities.
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The cost and solutions to stress and mental illness in the workplace
The direct cost of depression to the United States in terms of lost time at work is estimated at 172 million days yearly. According to the World Health Organization, mental disorders are the leading cause of disability in the U.S. and Canada. Australian Graeme Cowan, who experienced a horrific five-year mental breakdown, published a report on this topic called, The Elephant in the Boardroom: Getting Mentally Fit For Work. Cowan works with leadership teams to help them create teams that focus on both performance and collective mood in the workplace.
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  Experienced Insurance Counsel
MMM is a full service law firm with a strong national presence in insurance, corporate and regulatory matters. Our attorneys are experienced in all matters related to the industry from the creation of insurance companies and captives to liquidation of entities. We also represent an array of insurers/reinsurers in complex litigation and arbitration matters.

4 common mistakes about intellectual property
American Express OPEN Forum
Small business owners know about the importance of copyrights, trademarks and patents, but in general, intellectual property is easily misunderstood.

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The Target data breach: A risk management industry perspective
Epoch Times
How did the sizeable data breach at Target that came to light in December occur? A recent U.S. Senate report, based on media reports and expert analysis, answered this question in part.

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Workers' compensation benefits survive incarceration
New York Law Journal
A workers' compensation recipient did not forfeit his entitlement to benefits when he was convicted of first-degree sexual abuse and sentenced to 10 years probation, an upstate appeals court determined.

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2 small 401k oversights could cost your company big
HR Morning
The latest figures on the DOL's 401k enforcement efforts give employers some compelling reasons to take a closer look at their retirement administration practices, as well as some clues on the types of issues that generally set the feds off. In 2013 alone, the DOL closed 3,677 total 401k investigations. What's worse, nearly three-fourths (73 percent) of these investigations resulted in fines or other corrective action for the employers that were involved. DOL investigations also resulted in litigation like civil lawsuits in 111 cases. With the increased funding and an enforcement focus on 401k administration, employers can expect to see even more results like this moving forward.
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A record quarter: 'Q1 2014 Catastrophe Bond & ILS Market Report'
The following report reviews the catastrophe bond and insurance-linked securities market at the end of the first-quarter of 2014, looking at the new risk capital issued and the composition of the transactions completed during Q1 2014. The total volume of new catastrophe bonds and insurance-linked securities issued during Q1 2014 reached $1.585 billion, according to the Artemis Deal Directory. This is a record first-quarter, the highest level of new cat bond and ILS issuance recorded in the first three months of the year in the markets history.
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People and fraud
Business Standard
Trust in colleagues and business partners is an invariable element of business and managerial culture. This trust culture risk distracts managements from an objective interpretation of early warning signs. Extraordinary people in the form of dominant leaders, flamboyant entrepreneurs, charismatic people or rogue employees perpetrate extraordinary frauds. Perhaps it is because these people are believed, trusted and often admired and acclaimed for their leadership that their frauds go undetected for long periods. The strong human element can act as a double-edged sword. All fraud risk management activities are also built on the trust that pervades the organization. The only limit to the types and mechanisms for fraud is the ingenuity of people.
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Colby Horton, Vice President of Publishing, 469.420.2601
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