We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
Risk management is a specialized industry, so we always thought it would be best to grow our own associates, provide opportunities, teach them our way; farm our own talent, so to speak. To build up our firm for future generations, we’ve always thought it important to gather new talent as early as possible.
Situation A NY-based organization (acting as tax syndicator) with over 350 properties engaged us to review and modify the lender requirements and to ensure insurance compliance with the requirements from the various parties involved in a deal
Most small business owners have at least some knowledge of the risks they face. Likely their insurance broker has educated them on some basic coverage for workers compensation, property damage, and business interruption to name a few. But several other potential exposures exist that, if left unaddressed, can mean massive and unncessary risk for a small business. As a company grows, so too does its risk. Business owners therefore would be well served to understand exactly what risks they face, how their specific industry affects their situation, and what they can do about it. Never be blindsided by a seemingly unforeseen issue. Visualize worst case scenarios so you can
Soft cost, or delay in the project completion coverage has been a hot topic of discussion and concern recently due to the unique claims scenarios that occur during a construction phase of a project. At first glance, the term “soft costs” seems easy to explain. But it’s actually a more complex subject.
When most businesses think cyber crime, they imagine brute force threats from foreign agents or highly advanced hacker teams. Executives tend to think that external forces well beyond their control make up the vast majority of security loopholes.
Personal property is one of the most underrepresented and disregarded coverage extensions on a commecial property policy. That is, Business Personal Property (BPP) – the personal property owned by the entity that is the named insured on the policy. BPP covers a variety of items typically identified with being owned in relation to the premises identified on the declaration page of a policy. It is not usually intended to insure the personal property of a firm’s employees or guests. Over the course of the last fifteen years, there have been several key changes to significantly expand the definition of BPP in different ways. Always keep in mind that coverage
In our previous posts on Enterprise Risk Management (ERM), we defined ERM and addressed how to set up the program and use it to assess and treat risks. We have come a long way! In this post, we evaluate the program. ERM is not a static program. An effective approach to evaluating and enhancing the performance is a three-part one: measure, monitor and, most importantly, evolve.
What does the new order do? On May 11th 2017, President Trump issued the new, signed cyber security executive order that demands each federal agency and department head will be held accountable for cyber security risk to their enterprises; an initiative to better protect the federal government’s critical data and systems. It outlines the cyber-risk reporting requirements that they must adhere to and names the framework that they’ll use as the standard.
Source: The New York Times Though there’s currently no evidence that patient data was breached in last week’s massive cyber attack on UK hospitals, the news sent shock waves around the globe. The ransomware used in the attack, known as “WanaCrypt0r 2.0” or “WannaCry,” disrupted health services and ambulance transports at several hospitals throughout England.
The cyber security world evolves at a breakneck pace. For those not following closely, new developments can be unexpected and downright scary.
