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Home   Membership   Education   Events   Resources   External Affairs      June 17, 2014

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How can reputation risk be managed?
By Dr. David Hillson
How can reputation be integrated within an enterprise risk management framework? This is not possible, because reputation is both a behavioral and consequential risk, so you never know what might cause it until it is too late. Reputation is not easy to value or protect, and many insurers will not underwrite reputation risk. It is, however, possible to reduce reputation risk at least partially. But first we need to recognize seven facets of reputation.
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TSA to extend 'risk-based security' system to screening luggage
Los Angeles Times
The Transportation Security Administration has been moving away from a system that assumes all passengers, including children and the elderly, pose the same security risk. For example, the TSA now operates PreCheck lines at 115 airports that let passengers who pass a background check zip through without removing coats, belts, shoes or removing laptop computers from carrying cases. Now the TSA plans to apply its so-called risk-based security system to the screening of luggage. Under the current TSA screening system, every bag gets the same level of scrutiny.
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Recording conversations in the workplace
Reston Now
Legal inquiries regarding the use of voice recorders in the workplace have increased in recent years with the use of smartphones. Many software applications (apps) designed for smartphones make the process of recording others easier than ever and unknown to the party being recorded. However, there are serious legal issues involved in the recording of others that should be considered before doing so. Generally, recording of conversations in the workplace is not recommended given the number of legal and workplace issues that can develop for an employee as a result.
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US economic recovery looks distant as growth stalls
The New York Times
Recessions are always painful, but the Great Recession that ran from late 2007 to the middle of 2009 may have inflicted a new kind of pain: an era of slower growth. It has been five years since the official end of that severe economic downturn. The nation's total annual output has moved substantially above the prerecession peak, but economic growth has averaged only about 2 percent a year, well below its historical average. Household incomes continue to stagnate, and millions of Americans still can't find jobs. And a growing number of experts see evidence that the economy will never rebound completely.
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Missed last week's issue? See which articles your colleagues read most.

    3 mistakes to avoid with accounts receivable management (By Scott Wolfe)
Extended supply chain risk: Questions to ask suppliers about their
supplier management practices
(Spend Matters)
Resolve to get employees involved in wellness programs (HR.BLR)

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The Kingstree Group New Website -Community
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Big data wake-up call: Increased online privacy concerns require risk management
Major inflection points are sometimes hidden in the details. For instance, there is an increase in unidentified caller IDs coming in on cellphones. This occurrence has finally escalated as one being worth talking about. So what's worth talking about? An emerging inflection point in big data, where consumers are becoming aware of what companies can do with big data, and how it potentially impacts their privacy. Two recent surveys support this with their findings.
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Europe: Emerging markets supply chain risks
Post 1840 Magazine
Hungry for growth, rich with resources and often offering substantial cost savings, there is much to recommend emerging markets as suppliers. But, for insurers, they also pose challenges. For starters, there is limited cover available, thanks to volatility and uncertainty in these areas. According to Volker Muench, global practice group leader, Allianz Global Corporate & Specialty: "The challenge for insurers is to ensure they can provide insurance while also being aware of the accumulation of risk which the supply chain can pose."
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Meteor bonds. Oh yes.
The Wall Street Journal
Worst day ever: You get struck by a meteor and your bonds go down the tube. Yes, bonds that allow investors to bet against natural disasters have a new risk to wager on: meteor strikes. United Services Automobile Association, an insurer, is poised to issue the first ever catastrophe bond that will hinge in part on space rocks hitting the U.S. Catastrophe bonds, usually provide insurers cover against calamities such as hurricanes. While the risk of catastrophic meteorite damage might be remote, investors could also lose money on the USAA's bond in the event of earthquakes, volcanic eruptions, wildfires and various storms and cyclones in any of the 50 U.S. states.
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Prevent fire hazards at the laundromat
Eastern Funding
There are a number of issues that owners of laundromats should be aware of in order to ensure that the business, its customers and employees are safe. One of these is the risk of fire, which can happen when dealing with a large amount of electricity and heavy machinery. Keeping in mind general safety tips may cut down the chances of something bad occurring.

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Build a culture of prevention in your business
Fast Company
Recent events make it seem as though companies are putting profits over safety: The mining disaster in Turkey, the missing Malaysia Airlines jet, and the sinking of the South Korean ferry Sewol have highlighted widespread safety transgressions and prompted leaders to rethink their nations' entire safety systems.

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States, cities 'ban the box' in hiring
A criminal record is such a stumbling block to employment that many states, cities and counties are passing laws to remove the question from applications for government jobs. Increasingly, some are forcing private employers to ban the question, too.

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Can you legally require workers, applicants to speak English?
HR Morning
Many companies, particularly those employing individuals who must interact with customers, have "English-only" policies requiring workers to be fluent in English. Well, the feds just sued an employer for having such a policy. Are these kinds of edicts legal? Yes. "English-only" policies are legal, according to the Equal Employment Opportunity Commission — but only in very limited circumstances.
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Federal records show inspection lapse of oil and gas wells on California land
CBS Sacramento
Four in 10 new oil and gas wells near national forests and fragile watersheds or otherwise identified as higher pollution risks escape federal inspection, unchecked by an agency struggling to keep pace with America's drilling boom, according to an Associated Press review that shows wide state-by-state disparities in safety checks. Roughly half or more of wells on federal and Indian lands weren't checked in Colorado, Utah and Wyoming, despite potential harm that has led to efforts in some communities to ban new drilling.
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Panel: Risk managers must help board members keep proper risk focus
Business Insurance
Risk managers must ensure that they confidently can articulate to their boards where their companies' top risks lie at times when those boards may be distracted by headline-grabbing issues elsewhere, according to a recent panel debate at Airmic Ltd.'s annual conference. And while the fundamental risks that face an organization may not change greatly over time, the variables that affect those risks may vary greatly in importance at different times, experts said.
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