Podcasts & Blogs

Savvy risk managers consider their employees (such as deputies, firefighters and school bus drivers) industrial athletes, investing in strength training, setting expectations with medical providers and preparing for unavoidable injuries by setting protocol for prompt treatment and recovery.

An ERM program can demonstrate value right away by broadening the conversations about risk. Beyond operational or insurable risks, ERM identifies risks and opportunities in various areas such as reputational risk, strategic risk, compliance, workforce and safety risks.

The diversity issue or incident (sometimes it is one “moment of truth”) is defined as a behavior, an action, or a series of behaviors (a pathology or trend) that one party (the target) feels or concludes based on the initiator’s behavior(s). The target may interpret the initiator’s behavior(s) as wrong, inappropriate, disrespectful, discriminatory or illegal.

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.