<![CDATA[Blog]]> https://www.risk-strategies.com/ en info@risk-strategies.com Copyright 2018 2018-09-24T09:14:33-04:00 <![CDATA[Hurricane Prep Alert - Florence Heads for Land]]> https://risk-strategies.com/knowledge-center/article/hurricane-prep-alert-florence-heads-for-land#When:16:56:58Z The 2018 Atlantic Hurricane Season has roared to life with Hurricane Florence on track to make landfall in the Carolinas later this week. If you’re in its path and haven’t already taken prep steps, it’s time to get busy. Here are a few ideas and resources to guide your efforts for this and any subsequent storm:

  • Track the forecasts – You’ll need the latest information to know when to act. Improved forecasting technology makes following storm movements and anticipated track easy. The National Weather Service and The National Oceanic and Atmospheric Administration’s National Hurricane Center should…]]> 2018-09-10T16:56:58+00:00 <![CDATA[The internet of (insecure) things - a looming risk in health care?]]> https://risk-strategies.com/knowledge-center/article/the-internet-of-insecure-things-a-looming-risk-in-health-care#When:19:17:41Z Technology industry research and advisory firm Gartner estimates that there will be 20.4 billion connected Internet of Things devices (IoT) by 2020.  Given the growth potential in this marketplace, these products are often rushed to market and the built in security is often deficient relative to legacy systems. So, while these devices bring many conveniences to consumers and allow commercial users to realize efficiencies and innovate, it is important to remember that the increase in the the use of these devices also increases the number of points of vulnerability – what cyber security experts call the attack surface - for…]]> 2018-09-06T19:17:41+00:00 <![CDATA[Self-Funding – A Growth Opportunity]]> https://risk-strategies.com/knowledge-center/article/self-funding-a-growth-opportunity#When:14:46:07Z In recent years there has been significant growth in self-funded health plans and likewise in medical stop loss insurance that protects those plans.   Risk Strategies Company has explored this phenomenon in a two-part whitepaper series available for download:

    Self-funded Health Plans and Medical Stop Loss Insurance:  A Growth Combination (two-part whitepaper series)

    Part-One:   Self-funded health plans and medical stop loss: a growth combination

    Part-Two:  Self-funded health plans and medical stop loss: a growth combination for health insurers

    In Part 1, you will gain a better understanding of the basics of self-funding, how the market has grown and…]]> 2018-07-30T14:46:07+00:00 <![CDATA[Time is Money And Other Consequential Losses]]> https://risk-strategies.com/knowledge-center/article/time-is-money-and-other-consequential-losses#When:14:27:11Z There’s an old adage in insurance. Limits come in two sizes, too big or too small. The problem is you don’t know until it’s too late.

    Figuring out whether you’re in the too big or too small category requires an accounting of many factors in the world of architects and engineers. Among the questions insureds should ask: 

    • What does the client require you to cover? 

    • What’s the purpose of your limits? Are you trying protect your client, yourself or your firm? 

    • What are your peers doing and are you consistent with the limits of…]]> 2018-07-30T14:27:11+00:00 <![CDATA[Weak Virtual Links and Your Business]]> https://risk-strategies.com/knowledge-center/article/weak-virtual-links-and-your-business#When:19:41:29Z You’re only as strong as your weakest link – and in today’s networked business world that weak link could be anywhere. Another unfortunate reminder of this surfaced recently as a Canadian supplier to major automakers was breached and important data on those clients stolen.

      This article in SC Magazine has a good rundown on the apparent facts of the situation. 

      Although this article emphasizes these breaches as a growing area of concern for manufacturers left exposed by supply chain vulnerabilities, the hack is very reminiscent of the Target breach and many others. The compromise was not due to…]]> 2018-07-27T19:41:29+00:00 <![CDATA[Good Construction Coverage Starts with Accurate Valuations]]> https://risk-strategies.com/knowledge-center/article/understanding-exposure-with-property-valuation-models#When:12:56:22Z Before I was in insurance I was in real estate. In those days, when a construction project derailed because of an unforeseen incident like a natural disaster, we’d file a claim and someone on the other end of the equation would write a check to cover a portion of the loss or damage. The calculus behind what was covered, how much was covered, and how it affected our premiums was a bit of a mystery.

      Now that I sit on the other side of that equation as a broker and understand the complexities of insuring real estate, I’m better able…]]> 2018-07-09T12:56:22+00:00 <![CDATA[Track 1 ACO moving to a risk-based model? Two Webinars just for you.]]> https://risk-strategies.com/knowledge-center/article/track-1-aco-moving-to-a-risk-based-model-a-webinar-for-you#When:13:22:21Z If you are a Track 1 ACO considering moving to a risk-based model in 2019, we have two webinars just for you:

       - Transitioning Into a Successful Risk-Based ACO Part 1:
           Why Transition to Risk and How to Protect Your ACO.
       - Transitioning Into a Successful Risk-Based ACO Part 2:
           How to Prepare for Risk

      This presentation hosted by the ACOExhibitHall, Chuck Newton of Risk Strategies, John Schmitt of Reliance Consulting Group and Andrew Webster of Validate Health addresses why your ACO should consider taking risk,…]]> 2018-06-21T13:22:21+00:00 <![CDATA[Is a Group Medical Stop-Loss Captive Right for You?]]> https://risk-strategies.com/knowledge-center/article/is-a-group-medical-stop-loss-captive-right-for-you#When:12:32:22Z As a mid-size employer, choosing the right healthcare plan for your company can be a complicated decision that can affect the health of your business. Do you go with a traditionally structured plan despite today’s escalating premiums? Or do you self-insure, which can leave you open to the risk of large claims and unanticipated claims fluctuation?

       A new trend making headlines is group medical stop-loss captives.

      For companies that are too small to self-insure, but want an alternative to rising premiums, group medical stop-loss captives allow many organizations to pool together and spread risk. Typically, target companies for this option…]]> 2018-06-20T12:32:22+00:00 <![CDATA[Insuring Artwork in Transit]]> https://risk-strategies.com/knowledge-center/article/insuring-artwork-in-transit#When:18:10:49Z Every once in a while, a major art heist makes headlines. Who can forget the elaborate caper of two art thieves disguised as Boston cops who gained entrance to the Isabella Stewart Gardner Museum and made off with $500 million dollar in Rembrandts, Vermeers and Degas – a crime still unsolved to this day?

      But headline-grabbing heists that rock the art world are rare. The most common risk associated with fine art insurance is far more banal, namely, moving pieces from point A to point B. Accounting for the bulk of fine art claims, shipping and transporting artwork is fraught…]]> 2018-06-06T18:10:49+00:00 <![CDATA[In the rush to merge, don’t lose sight of company culture]]> https://risk-strategies.com/knowledge-center/article/in-the-rush-to-merge-dont-lose-sight-of-company-culture#When:19:50:51Z Five years ago I sat through an onboarding meeting with the human resources team of a company that had just acquired the one I was working for and we heard what our new benefits were going to be - when they would go into effect, what they would cost, and what the net financial impact would be when we were enrolled.  There were some slight changes, some good, some bad, but nothing in my view worth getting upset about.  Much to my surprise, others in the room didn’t feel the same way. 

      I specifically remember seeing somebody in tears and…]]> 2018-05-17T19:50:51+00:00