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Home   Membership   Education   Events   Resources   External Affairs      August 12, 2014



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Maximize cyber risk management
Law Technology News
You're awakened when your cellphone starts ringing on your bedside table. The clock says it's 3 a.m. You answer, and a panicked voice on the other end stammers, "We've had a data breach." You jump up in a cold sweat and realize it was only a nightmare, but your night is ruined and your sleep is lost. In light of recent headline-making events, however, it could always be worse: More and more executives are seeing this nightmare come true.
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Risky business: The dangers of underfunded risk management
Business Reporter
Firms continue to underestimate the cost of "risk management failures," despite an increased sense of awareness following the financial crash, an influential global body warns.
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Positioning the enterprise risk management function for strategic organizational efficiency
Business Day
The Risk Management Society defines enterprise risk management as "a strategic business discipline that supports the achievement of an organization's objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated risk portfolio." The role of the enterprise risk management function is not only to ensure that the organization is prepared for all forms of shocks and adverse uncertainties that could affect its bottom line revenue, but most importantly it is charged with ensuring strategic navigation and calculated decision to take on challenges and opportunities that guarantee overall success in all situations.
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Code red: Big data risk management requires a safety net
TechRepublic
When best laid product plans go awry, you may need to issue a code red. This is when you look to the several backup plans developed as part of your big data strategy.
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SEC commissioner highlights need for cyber risk management in speech at New York Stock Exchange
The National Law Review
Cyber risks are an increasingly common risk facing businesses of all kinds. In a recent speech given at the New York Stock Exchange, SEC Commissioner Luis A. Aguilar emphasized that cybersecurity has grown to be a "top concern" of businesses and regulators alike and admonished companies, and more specifically their directors, to "take seriously their obligation to make sure that companies are appropriately addressing those risks."
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As natural disaster threats around the world increase, so do risks to businesses' customers, supplies
Miami Herald
Richard S. Olson, director of the Extreme Events Institute at Florida International University, said companies have a growing incentive to reduce the risk of disaster damage to suppliers and customers because the insurance and reinsurance industries increasingly account for such risk in pricing their coverage. Natural disaster risk is starting to command more attention because it is increasing worldwide.
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Balancing Care and Costs
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As the constant evolution of the healthcare industry continues to drive new solutions to address age-old challenges, the ultimate goals remain the same – reduce employers’ impact of claims and deliver improved care to injured workers to enhance their quality of life at work and at home.

A return to case management, the root of workers’ compensation, offers unparalleled – and often unrealized – results when adapted to claims management. Executing case management services at the right time during the claims process, combined with information and real-time technology to combat delays, can increase efficiency across the healthcare management process and lead to better outcomes for all parties involved.
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Ebola: The current state of the outbreak
By Joan Spitrey
On July 11, I shared an article about the Ebola outbreak that was reaching historic levels. At that point in time, the outbreak was contained to the West African countries of Sierra Leone, Liberia and Guinea with 888 confirmed cases. That number has doubled to 1,711 cases in a little under a month, according to the World Health Organization's reporting Aug. 4. Clearly, the disease is moving at an unprecedented rate, recently spreading into Nigeria. As the world watches this unfold, history was made when the Ebola virus recently entered the United States voluntarily.
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How to evaluate your vendors for business continuity risk
Forbes
Vetting your vendors from a business continuity and disaster recovery perspective is hot, hot, hot these days. For example, in October the federal government put out specific risk management guidance for national banks. In a nutshell, the guidance says, "You'd better make sure your vendors have it together if you're doing business with them, and it's on you either way!"
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Supply chain: Only 7 percent of businesses benefit from risk investment
Business Reporter
The majority of companies see supply chain risk management as important to their business, but only 7 percent are generating returns of more than 100 percent on their supply chain risk management investments, according to a study by global management consultant Accenture.
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Maximize cyber risk management
Law Technology News
You're awakened when your cellphone starts ringing on your bedside table. The clock says it's 3 a.m. You answer, and a panicked voice on the other end stammers, "We've had a data breach." You jump up in a cold sweat and realize it was only a nightmare, but your night is ruined and your sleep is lost. In light of recent headline-making events, however, it could always be worse: More and more executives are seeing this nightmare come true.

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Ruling: What's not allowed when accessing employees' social media sites
HR Morning
There are a lot of laws HR pros pay close attention to (FMLA, ADA, FLSA, etc.), but the Stored Communications Act typically isn't one of them. That should change. The act prohibits the unauthorized access of individuals' electronic communications and records that are intended to be private. If you're thinking this doesn't apply to you because you'd never go snooping around employees' email, you're wrong. It also applies to something a lot of employers are taking very seriously these days: the Facebook activity of employees and job candidates.

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Dealing with bullies in the workplace
The Boston Globe
Victims say the problem is tangled by workers' fear of retribution, lack of legal protections, and concerns about what constitutes abusive behavior.

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Cyber risk management: Getting the message across to the board
Information Age
In any business, cyber security breaches are possible at any number of points at which information is exchanged. Risks can be external (from activists, criminals and spies) or internal (from employees and systems) — indeed, 80 percent of breaches that occur are down to human error.
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Looking at supply chain risk like an insurance provider: Do business here, not there
Spend Matters
It would be great to have a supply chain risk silver bullet that highlighted specific suppliers that present riskier prospects. That would be financial risk variables, broader supply chain exposure, political risk (of site/factory/host countries), and more. Short of this risk management panacea or expensive one-off analysis, the 2014 FM Global Resilience Index is a starting point, at least as it pertains to both country specific risk and the overall factors that contribute to supply chain risk.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Dealing with bullies in the workplace (The Boston Globe)
Risk management: Understanding workers' compensation (Rental Management)
Is cyberinsurance worth the risk? (TechTarget)
Embrace risk management (Federal Times)
Officials: Risk management about much more than insurance (The Albany Herald)

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

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