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Home   Membership   Education   Events   Resources   External Affairs      June 03, 2014


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Companies taking reputation risk management more seriously
The Holmes Report
Reputation risk management is moving up the corporate agenda, with almost two-thirds (63 percent) of senior executives — including communications directors, heads of legal, CEOs and risk managers — indicating that they are dedicating more time to the discipline than they did two years ago, according to new research from UK law firm Schillings. For the majority of those interviewed (72 percent), reputation risk is dealt with under the broader risk management framework. But a growing number of pioneers (17 percent) are starting to treat the management of reputation risk as a separate function with formal reporting to the board, and some companies have restructured their leadership team and reporting systems.
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Evaluate business partner resiliency
Baseline Magazine
How can you know that your business partners are taking sufficient precautions when it comes to systems reliability? It's an increasingly important consideration, given the growing use of cloud services for critical business functions. Companies are becoming more reliant on external parties for critical services, and, as a result, they're becoming more vulnerable to business interruptions, according to a new report, "Business Continuity Beyond Company Walls: When a Crisis Hits, Will Your Vendors' Resiliency Match Your Own?" from consulting firm PwC. This is especially true when they know little about their vendors' resiliency and recovery capabilities.
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Don't get caught out by exposure concentrations this hurricane season
Artemis
Risk modelling can underestimate the losses that an insurance or reinsurance company, or an insurance-linked security or catastrophe bond investor, could face from a major hurricane as they do not always fully capture exposure concentrations. In a paper published yesterday, independent catastrophe risk management and modelling firm Karen Clark & Company discusses the importance of understanding your exposure concentrations and how its unique Characteristic Event loss estimates.
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Employers crack down on social media abuse
Business Management Daily
While the initial explosion in social media usage took em­ployers (and their attorneys) off guard, more organizations now have clear employment policies — and they're not shy about flexing them. In fact, more than 70 percent of employers have disciplined employees for on-the-job misuse of social media sites like Facebook, Twitter and Instagram, according to a new survey by the Proskauer law firm. That's up sharply since 2012, when just over a third (35 percent) said they’d disciplined for social media abuse.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Firms revamping employee wellness programs (Modern Healthcare)
Do we need a revolution in management? (Forbes)
Execs embracing operational risk importance (ABA Banking Journal)
Travelers identifies top concerns for American businesses (News-Insurances)

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For the economic recovery, consumer component finally falling into place
MediaPost
Based on the technical definition of a recession, the Great Recession lasted 18 months and ended in June 2009, exactly five years ago. That was the point at which the U.S. economy stopped contracting. Focusing on the amount of time required to attain pre-recession "high-water marks" on key business, investment, and people metrics, it's clear that the recovery has been uneven and continues to be a work in progress.
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Corporations see water scarcity as business risk
Environmental Leader
Companies including AT&T, Deloitte, MillerCoors and Veolia see water scarcity as a business risk and a barrier to economic growth, according to a blog by Environmental Defense Fund on a recent meeting involving those parties aimed at tackling water scarcity issues. Major nonprofits, water technicians and corporations met at the daylong event at the Pacific Institute in Los Angeles to "hone in" on shared solutions to the shared problems water scarcity poses to business and the environment.
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Internship legal concerns mount
HR Executive Online
As internship season approaches, employers are rethinking their use of interns, particularly those who go unpaid. Such internships have come under scrutiny in court battles throughout the past year, with recent lawsuits focusing on claims that unpaid internships violate wage-and-hour laws. What's more, new laws in states and other jurisdictions across the country are bringing attention to unpaid interns' civil rights as well as their economic rights.
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Protect your company when you rent event tents
Rental Management
Before the party and event season kicks into high gear, rental companies should examine their tent rental contracts to make sure they're sufficiently protected. This is especially critical for rental companies that haven't reviewed their contracts within recent memory, since rules, regulations and requirements around tented events have changed over the years.

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Worried about managing a company crisis? Take these proactive steps
Entrepreneur
As much as we try our best to prepare for the unexpected it is impossible to plan for all the contingences that could strike a business, especially a startup. Even if you cannot predict the crisis or when it will strike, you can preplan for one. The following steps will help you bring structure, organization and calm during a crisis.

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Organizations not ready for risks from 3rd-party vendor partners
Information Management
Organizations are not adequately addressing IT and security risks that emerge from outsourcing and partnering with third-party vendors, according to a new survey by consulting firm Protiviti and Shared Assessments Program, a community of risk management professionals.

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Protect your intellectual property before it's too late
Forbes
Acceptance into an incubator or accelerator can often be a stamp of approval for a young startup. A website reference to Y Combinator, 500 Startups, or Techstars to name a few, can mean instant credibility and prestige for a fledgling company. Just this past week MassChallenge announced its 128 finalists from a pool of over 1,600 applicants. However, one of the most overlooked points in joining a program – no matter how prestigious – is the possibility of a startup losing its intellectual property by virtue of it entering the public domain without proper protection because the founders never understood or identified the IP in the first place.
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Computer users warned over virus pandemic
The New Zealand Herald
Computer users have been warned to take urgent action to protect themselves from a global cyber virus pandemic. Police around the globe have launched an unprecedented attack on high-tech criminals behind software causing misery to millions, but the hackers are expected to soon rebuild their network.
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