For clients in large business environments, and even sometimes in small businesses, risk management is a vital part of their success. An adequate risk management process requires a developed plan with a clear purpose, reliable inputs, and well-designed and value-added activities. So how can your client begin to implement a good risk management plan? The following are some insights from business website corporatecomplianceinsights.com.
Risk management starts with identifying the business risks that exist within a company. This involves determining the quantitative..
Teaching, especially at the college or university level, can be one of the most challenging and rewarding professions out there. It takes a lot of preparation, organization, and good attitude to be a successful educator or to run a successful university. One of the factors essential to a financially sound educational facility is the right type of insurance coverage. This starts with professional liability coverage, which protects your education clients against claims of wrongdoing, negligence, defamation, or even harassment.
Cyber Losses are on the Rise
By: Drew Smith
The news lately has been filled with security breaches from cyber-space. So far the ones in the news have been large companies like Target and Home Depot, retail stores that get millions of different transactions daily, including their own reward programs which were the main focus of the attack.
But now in the last month it was revealed that JPMorgan Chase was breached sometime in August 2014. This breach was revealed to have compromised 85 million accounts, of which about 90% of the accounts compromised, about 76 million, were personal accounts. At this time,..
When it comes to procuring the right insurance policies for their business, Employment Practices Liability Insurance, or EPL Insurance, should be a top priority. When it comes to employment practices, there are many different legal claims that your clients may face, including; racial or religious discrimination, sexual harassment, FMLA violations, unfair pay, wage and hour disputes, and other significant claims.
According to an article published by Employee Benefit News, The Equal Employment Opportunity Commission (EEOC)..
In the past decade, and even more in the past year, businesses nationwide have been made aware of the damage that a data breach, or Privacy and Network Security breaches, brings. In addition to losing valuable information, and losing money due to loss of customers and business, these companies also suffer from reputation loss. While the right Privacy and Network Security insurance policy can protect you and/or your clients from the financial loss after a data breach..
If you have clients who work in health care, human services, or some type of counseling, chances are that some of these professionals work in the nonprofit sector. These companies are especially vulnerable to risks, and as a result have a strong need for Professional Liability Insurance, or Errors & Omissions.
Being in the nonprofit industry, it’s quite possible for your clients to offer some type of advice or service that simply falls flat of helping the end..
As a director or officer of a business, your clients hold the authority and responsibility for the direction, activities, and operations of their company. They are obligated to use the power they have on behalf of their business, and exercise that power with competence and diligence.
With this responsibility comes risks. Your clients in this position face directors and officers liability issues every day. These can include the following:
Claims of Wrongful Acts. This can..
As reported by consulting firm orba.com, the American Bar Association (ABA) estimates that your legal clients will have at least three legal malpractice claims brought up against them in the course of their careers. Reportedly, claims against lawyers have been steadily increasing in recent years, and don’t show any signs of slowing. Your attorney clients may be held to the highest ethical and professional standards, but that still does not make them immune to..
Earlier this year, we discussed some reasons why your clients need commercial crime insurance, citing potential risks such as forgery, theft of money, computer fraud, and the damaging of customer’s property from a break in and/or burglary. Your clients may not be aware, but commercial property loss actually occurs more often due to crime-related incidents than any other cause. While the right Commercial Crime Insurance Policy is the only way for your clients to financially protect themselves..
According to the Identity Theft Resource Center, so far this year there have been more than 530 data breaches throughout the U.S. While the individuals affected aren’t held liable for any fraudulent charges on stolen account numbers, their loss of personal information is definitely at stake, which means if it was your client that experienced the network security breach, they are likely to get sued.
In an earlier blog post we briefly explored how your..
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