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Home   Membership   Education   Events   Resources   External Affairs      June 26, 2014

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RIMS opens ERM Conference 2014 registration, announces keynote
Recently, RIMS opened registration for the RIMS ERM Conference 2014 scheduled for Oct. 26-28 in Miami. The three-day conference will provide practical solutions to help practitioners build and sustain their enterprise risk management programs. The conference will feature keynote remarks from venture capitalist, tech entrepreneur and New York Times bestselling author Josh Linkner.
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Economic cost of climate change projected to grow, ILS has role to play
A new report titled "Risky Business" that focuses on the need for U.S. companies to treat climate change as any other business threat has been released, warning that climate change will cost businesses billions. The main study of the report predicts that within the next 15-20 years hurricanes, rising sea levels and greater storm surges could raise the yearly cost of coastal damage along the U.S. East Coast and the Gulf of Mexico to $35 billion. Other figures from the study conclude that U.S. agricultural areas could potentially see a 10 percent decline in yields, due to greater droughts and increased flooding, suggesting these pressures could be felt as early as five years' time.
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Study: Supply chain risk management now a priority for most businesses
Manufacturing Business Technology
The majority of companies see supply chain risk management as important to their business, but only 7 percent are generating returns of over 100 percent on their supply chain risk management investments, according to a new study by Accenture that revealed the distinct approaches followed by leaders in risk management. Seventy-six percent of companies participating in the "Accenture Global Operations Megatrends Study – Focus on Risk Management," describe supply chain risk management as important or very important. Of the more than 1000 companies represented across 10 industries, 25 percent plan increased investments of at least 20 percent in supply chain risk management in the next two years.
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New webpage details risk management for anhydrous facilities
Farm and Ranch Guide
Agriculture Commissioner Doug Goehring is urging anhydrous ammonia dealers to check out a new webpage and to contact the North Dakota Department of Agriculture to learn how to comply with provisions and requirements of the Risk Management Program affecting their businesses. "The webpage provides guidance materials and tools to help anhydrous facility managers better understand RMP and what they must do to be in compliance," said Goehring. "At the same time, we want them to contact us with any questions or as a follow-up to our previous outreach meetings held around the state."
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Missed last week's issue? See which articles your colleagues read most.

    Wellness incentives fixed firmly in EEOC's crosshairs: 2 rules to watch (HR Morning)
PwC: Businesses must wake up to global risks (Economia)
Top 10 governance, risk, compliance tech spending priorities (InformationWeek)
Have you implemented a workplace anti-bullying policy? (Employee Benefit News)
AIG launches global commercial property coverage for mid-market (Insurance Journal)

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The Kingstree Group New Website -Community
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Top 5 biggest myths about business continuity
You may have heard many claims about business continuity planning, and a few "winners" keep cropping up. For instance, do you ever hear, "I don't need to be involved."? A great business continuity plan is closely aligned with both the strategic and tactical management of the company. It's not as simple as backup tapes and laptop computers – you need to know how every facet of the business will continue to operate. The following are a few myths and what you need to know to plan for real business continuity.
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The main reasons people quit their jobs
Nearly 2.5 million Americans quit their jobs each month. According to the Bureau of Labor Statistics, this number has held steady for the past few months after a slow but steady increase from a low of 1.7 million quits a month in 2009. So why are so many Americans – about 30 million per year — packing up and heading for greener pastures? Well, some of them are leaving the workforce altogether, and others are simply willing to take the risk of leaving one job for another, and hopefully better, opportunity. Although we are not yet at the pre-recession level of 3 million quits per month in early 2007, American workers are definitely on the move.
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  Experienced Insurance Counsel
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US economy shrinks by most since great recession in Q1
Fox Business
The U.S. economy contracted at a much steeper pace than previously estimated in the first quarter, but there are indications that growth has since rebounded strongly. The Commerce Department recently said the gross domestic product fell at a 2.9 percent annual rate, the economy's worst performance in five years, instead of the 1.0 percent pace it had reported last month.

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Managing ETF risk the tactical way
ETF Trends
Using exchange traded funds as the cornerstones of tactically-driven asset allocation strategies continues to gain traction. It is also becoming easier to build asset allocation models around ETFs. Some ETF strategists adhere to the traditional 60/40 equities and bonds split, but others, using measured approaches to risk management, increase equity exposure depending on the market environment.

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'Catch Me' inspiration offers tips on preventing fraud, theft
Prairie Business Magazine
When Frank Abagnale Jr. forged checks as a teenager, he needed a 90-foot-long Heidelberg printing press. Today, fraudsters can create fake checks in 15 minutes with a laptop, he said. In a world where information is everywhere and ethics are lacking, identity theft and check forgery occur at unprecedented levels, the former con man said.

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Keys to understanding SMSF business models
SMSF Advisor
More than ever before, we are seeing professionals enter the SMSF sector to provide a variety of products and services to trustees. This increase in interest is resulting in a specialist path to support the growing demand for advice and services around SMSFs. However, just "hanging your hat" on being an SMSF specialist is no guarantee for success in your business. Therefore, within this growing market, it is important for you to understand what your SMSF business model should actually look like, and there are several key considerations to keep in mind.
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It's time to dust off the risk management plan
National Hog Farmer
The impact hedging has on income statements and on balance sheets is magnified with the very large swings in the futures market in recent months. The challenges of managing those positions, basis and all other aspects of margin management might be the most important management decisions you will make through the balance of this year. Based on what has transpired during and after the dramatic increase in market and futures prices of March, taking a step back and reviewing where we are today and how we got there is relevant to every producer's decision-making process.
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Study: Do corporate wellness programs drive down costs related to obesity?
Are the employer-sponsored wellness programs sprouting up in corporate America to get employees healthier and drive down the cost of health benefits succeeding, especially with obesity? A study presented during "Obesity Week" has found that wellness programs are commonly setting weight goals for employees, but most often they are paired with employer health plans denying coverage for evidence-based obesity treatment.
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Outsourcing your payroll? Avoid these risks
Outsourcing payroll is a great option for small business owners who want to save time and run their businesses more efficiently. While most payroll services, ranging from online systems to outside companies, are reputable, it's important to consider the risks involved in outsourcing this function of your business. When you make the decision to outsource payroll, you're also turning over your payroll tax responsibilities, as well as your business's important and private information, thus opening up your company to some serious risks like theft and tax fraud.
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Colby Horton, Vice President of Publishing, 469.420.2601
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