Podcasts & Blogs

For risk management professionals concerned about property risk exposures, an up-to-date, accurate SOV is critical.

In a world full of constant connectivity, the potential for risk continues to be on the rise. That’s why reactive response is no longer enough. Think about it: In this day and age, a simple photograph captured by cell phone at an inopportune moment can make or break a business.

Fortunately, there are proactive ways that organizations can deter risk from even happening.

I attended the 2019 Annual PRIMA Conference in Orlando, FL, from June 9th through June 12th as a student scholar. In attending this important professional conference, I had the unique opportunity to further my public risk management education through interactive sessions and workshops, as well as networking with experts in the field. As a result, I was able to learn more about the challenges risk managers face today.

As healthcare evolves, public entities are looking for new programs that promise savings and improved outcomes. However, if a change is initiated but poorly managed, it can have a detrimental effect—disrupting members’ access to care.

Medical costs are expected to grow again in 2019 at a rate that will outpace inflation. As a result, many public entities are being pressured to consider new and innovative approaches to their health benefits. This type of change in strategy can help them achieve both quality and affordable care.

For insurable risks, we can then share or spread the risk for the less predictable and manageable through insurance or pooling. Building resilience helps us prepare for and manage uninsurable risk.

Putting a dent in what schools are paying to settle liability claims would help keep dollars focused where they should be – in providing quality education for our children. But what is the true impact of those claims?

If your organization is a public entity, chances are you will face a catastrophic event that will require you to venture down the road to FEMA Public Assistance. Consideration of the following information will help you better prepare for the journey ahead.

There is a real benefit to reporting losses immediately after they happen. This is particularly important in workers’ compensation insurance. The time between the occurrence of the loss and the reporting to the insurance carrier is called lag time, and is usually measured in days.