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Jun. 4, 2013


MexiPass International Insurance Services, LLC


MexiPass is the leading MGA, Underwriting Manager & Risk Management Solutions provider for risks of American entities in Mexico.
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Risk management front and center as industry mulls training standards
Aviation Week
FAA's now-retired general aviation chief thinks risk-management tools and methods do not get enough emphasis either in initial or recurrent GA pilot training, even though his own research suggests as many as 75 percent of personal GA flying accidents can be traced to poor risk-management decision-making. Robert A. Wright spent the latter part of his career at the agency creating and implementing the FAA Industry Training Standards program aimed at modernizing pilot training and making a dent in the long-flat fatal accident rate in general aviation. That work, and additional research he has done in post-retirement consulting, led him to conclude that poor risk-management skills are prominent as the root cause of "a solid majority of general aviation fatal accidents."
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Commodities trading requires disciplined risk management
HedgeWeek
Inflation risk is very much a known unknown. It's not a question of whether inflation will rise, but rather when, in developed markets. Admittedly, the U.K. recorded a fall in inflation to 2.4 percent in April. But from a longer-term perspective, inflation is something that investors should be thinking about and planning for. One way to protect against inflation risk is through commodities.
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Risk and reward: Policy management tools
SC Magazine
So, you've got your policy in place. Then, based on your policy, you have tweaked your network to comply. You run the vulnerability assessments and pen tests and you're pretty sure you've got the information security engine purring like a contented kitten. You're off to other things, such as the daily fires with which you constantly deal. Sometime when you weren't looking there was a new regulatory requirement, two new firewalls and a new corporate website for the marketing team. Now what? Is it time to run a whole new risk assessment? Not necessarily.
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  LWG Consulting

Forensic Scientists & Engineers

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Looking to share your expertise?
MultiBriefs
In an effort to enhance the overall content of RiskWire, we'd like to include peer-written articles in future editions. As a member of RIMS, your knowledge and experience in the industry can be of great help to your fellow members. And we're hoping you'll share this expertise with your peers through well-written commentary. Because of the digital format, there's no word or graphical limit, and our group of talented editors can help with final edits. If you're interested in participating, please contact Ronnie Richard to discuss logistics.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Risk and responsibility cannot be outsourced (Gulf Times)
Why an organization should exercise BCM/DR plans (Stoneroad's Blog)
Cyberattacks should be accounted for in risk management process (The Strategic Sourceror)
Retailers lack data tools to prevent factory hazards (The Wall Street Journal)
E&O insights: Restaurant and tavern risks (Insurance Journal)

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ISO 31000 risk management standard helps balance uncertainty and opportunity
Business Insurance
Principles of the ISO 31000 risk management standard include the idea that risk management should create and protect value and be part of organizations' decision-making, areas in which many organizations are missing the mark.
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  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
 


As risk premiums fall in the catastrophe bond market, expected losses rise
Artemis
It's time for another look at two of the metrics which give an insight into catastrophe bond transactions that have come to market recently and where the cat bond and reinsurance investment market feels its risk appetite lies. With the constant flow of new capital into the space now affecting pricing it's a good time to revisit the risk premium and expected loss of the outstanding cat bond market.
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8 things you need to know to prepare your business for hurricane season
The News-Press
The Oklahoma tornado and start of hurricane season are throwing up red flags for business owners. Of small businesses that close because of a disaster, at least one in four will not reopen and many small business owners don't feel they have the time or money to create a continuity plan. While Mother Nature often acts as a reminder for creating business continuity plans, it's the downtime when businesses should be preparing.
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Survey: Many businesses not ready for a disaster
The Boston Globe
Natural disasters are the top safety concern among office employees, yet 60 percent of businesses said recent disasters, including Hurricane Sandy, haven't led them to reassess their safety plans, according to Framingham-based Staples' second annual workplace safety survey.

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Regulatory risks: Be very, very afraid
CFO Magazine
Regulatory risks, such as the threat of government pressure to reallocate capital, are the number one threat facing companies in a variety of industries, according to a recent KPMG survey of C-Suite executives.

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Risk and responsibility cannot be outsourced
Gulf Times
It's the biggest catchphrase in the compliance industry: risk management. Companies use risk assessment and risk management as a means to identify potential hazards and harms, determine the right course of action and limit financial exposure.

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US economy continues sluggish recovery
CNNMoney
The U.S. economy grew at a slightly slower pace than originally reported in the first quarter, according to revisions recently released by the Commerce Department. The revisions show that gross domestic product — the broadest measure of economic activity — rose at a 2.4 percent annual pace in the first three months of the year, down slightly from the 2.5 percent pace originally reported last month.
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Firms' insurance premiums affected by lack of Cat risk data
Acturial Post
Businesses are under mounting pressure from insurers to manage their global supply chain and property risk exposures more aggressively, amid greater underwriting scrutiny following heavy losses sustained as a result of increasingly frequent and severe natural catastrophe events.
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Restaurant executives: Social media requires response, risk taking
Fast Casual
Two to three years ago, social media was an entity most restaurant brands were still trying to figure out. Now, it's not only a necessity, but consumers expect immediate interaction with their favorite brands. That's a tall task, considering the number of people using channels such as Twitter and Facebook. To navigate these and other social sites, Scott Mulkey, vice president of Foodservice Strategy and Marketing at Coca-Cola, said it's important to realize social media can't really be controlled, no matter how many resources a company pours into the department.
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The problem with squeezing employees too hard
Inc.
These are still tough economic times, which means business owners are asking employees to do more with less. It might be logical or even necessary, but be warned: It creates risk for fraud and corruption, according to a new study by Ernst & Young. In surveying 3,000 board members, managers and their teams in 36 countries, the study found pushing your team to meet tough targets with fewer resources and less compensation raises the risk for unethical behavior including bribery and number fudging.
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