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Home   Membership   Education   Events   Resources   External Affairs      May 22, 2014


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How the RIMS Risk Maturity Model works
ebizQ
Hack Wilson was an MLB star in the 1920's, but he had a drinking problem. Realizing his potential, Hack's manager pulled him into the dugout and said, "If I drop a worm into a glass of water, it swims around fine. If I drop it into a glass of whiskey, it immediately dies. What does this prove?" Hack responded, "If you drink whiskey, you'll never get worms." Hack's observation, while misguided, provides a lesson in the difficulty of training and educating employees.
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USDA announces risk management education program grants
The Prairie Star
The U.S. Department of Agriculture's Risk Management Agency recently announced the availability of $7 million for risk management education and training programs. The programs provide risk management organizations with resources to develop training and education programs to help farmers and ranchers effectively manage long-term risks and challenges.
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NLRB: You can't require employees to be positive or professional
By Steve Cape
Employers have long operated on the idea that when an employee uses the company email, it will only be for business purposes. That may be coming to an end if the National Labor Relations Board has its way. The NLRB is broadly interpreting the National Labor Relations Act to say that employees can take part in concerted activities for the purpose of collective bargaining, mutual aid or protection. But their interpretation of it is pushing the edges of sanity.
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When disaster strikes: Risk management and business continuity
Healthcare Finance News
Hospitals confront extraordinary challenges in the aftermath of a natural disaster. Not only are patients and staff threatened by the event, but new patient volumes typically swell during a catastrophe. Aside from hurricanes, tornadoes and earthquakes, man-made disasters like a terrorist attack or hacking incidents can also shut down hospital operations, temporarily or entirely. These risks seem to have enlarged in recent years. Consequently, many hospitals have upgraded their business continuity planning.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Goodbye, no-gossip policies? (Human Resources Executive Online)
A better way to realign your staff (By Michael J. Berens)
Writing a business succession plan (Forbes)
Supply chain risk 'varies wildly in the developing world' (Business Reporter)

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


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Puerto Rico targets catastrophe bond and ILS business
Artemis
Another offshore domicile has thrown its hat into the ring to compete for catastrophe bond and insurance-linked securities business. Puerto Rico is reportedly the latest domicile to amend its insurance legislation in an attempt to bring the ILS sector to its shores. According to this article in Captive Insurance Times the Puerto Rican government has enacted legislation allowing catastrophe bonds and other insurance-linked securities to be issued and domiciled there.
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Looking for similar articles? Search here, keyword(s): Catastrophe bonds.


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Guess? Inc. agrees to report on workplace safety
Workers Compensation
New York State Comptroller Thomas P. DiNapoli announced that clothing-maker Guess? Inc. has agreed to disclose its efforts to mitigate a variety of risks including workplace safety and environmental risks in its supply chain. As a result of the corporation's agreement to publish an annual sustainability report, DiNapoli withdrew his shareholder proposal that asked Guess? to report each year on its responses to environmental, social and governance issues.
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TRENDING ARTICLE
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8 essential elements of a disciplinary warning form
By D. Albert Brannen
Disciplinary counseling of an employee is one of the most unpleasant but important tasks a manager can perform. If done properly, counseling can rehabilitate an employee, prevent termination of the employee's employment and avoid legal liability. Having a good form to document the warning is critical to making the disciplinary process work. While there is no "one size fits all" form to document disciplinary warnings, the best forms have the same essential elements.

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Return on investment: Enterprise risk management
ebizQ
Many business cases for enterprise risk management programs begin with what senior management can expect in terms of return on investment. While ROI may not be the best indicator of ERM success (it's tough to quantify the monetary value of risks you've mitigated), there are simple and direct steps you can take to demonstrate the efficiency your program will gain through the implementation of an ERM system.

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TXU bankruptcy holds lessons for risk managers
Risk
Risk management is as much about social engineering as it is about financial engineering. A successful risk manager has to understand the culture of their organization, as well as the typical behavioral biases of the individuals within it. The bankruptcy of Energy Future Holdings — formerly known as TXU — should act as a warning to risk managers, who must be alert to excessive self-confidence and a failure to deal with unpleasant or inconvenient facts.

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Crisis management: How to prepare for when the sh*t hits the fan
Business 2 community
It can take years for your business to establish a great reputation and literally seconds for it to be destroyed. Fact. Bad news travels fast — instantly, in today's digital world of smartphones, tablets and social media. This is where crisis communications and reputation management come into force. It sounds obvious for big organizations that could have to deal with oil spills, hostile takeovers, whistleblowers or mass recalls. But do small businesses really need to spend time and money having a crisis management plan in place? Undoubtedly yes.
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Off-the-clock activities that can get employees fired
HR Morning
A lot of employees, especially your troublemakers (you know who they are), think they're safe when they leave the work premises. They're not. You can still hold them accountable for a lot of their actions. Like what? The following are five actions pointed out by Fisher & Phillips LLP's Shayna Balch for which companies can terminate employees, unless they have an employment contract that states otherwise.
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US companies take bold step to force government to address climate change
PolicyMic
Farmers Insurance Co., one of the nation's biggest insurance companies, has filed nine class-action suits alleging that local Chicago-area governments knew that climate change would lead to greater rainfall but haven't taken action to guard against future flooding. According to the suit, roughly 200 localities failed to adequately prepare sewers and storm-water drains for a two-day storm in April 2013 for which Farmers paid out extensive damages. This might be the first of many battles to come between insurance companies that are realizing climate change-related disasters will inevitably threaten their bottom line and government authorities who refuse to mitigate the effects of a changing climate.
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