<![CDATA[Blog]]> https://www.risk-strategies.com/ en info@risk-strategies.com Copyright 2020 2020-05-28T11:35:04-04:00 <![CDATA[Cargo Insurance, What Are The Risks?  Part II]]> https://risk-strategies.com/knowledge-center/article/cargo-insurance-what-are-the-risks-part-ii#When:20:43:39Z Special Care" Needs For Cargo

While some work is simply a bad bet, most high-risk shipments fall into the "needs special care" category.  This type of cargo care will vary from case to case.  Sometimes your people should take added precautions, and sometimes you must demand that your customer exercise special care.  Often the courier owner must provide appropriate language on the delivery receipt or contract of carriage, or by securing insurance for a customer or delivery.  Often the best solution will be a mix of these risk strategies. 

Jewelry provides a good example of a high-risk delivery that requires additional assessment and coverage…]]> 2020-05-27T20:43:39+00:00 <![CDATA[Cargo Insurance, What Are The Risks? Part I]]> https://risk-strategies.com/knowledge-center/article/cargo-insurance-what-are-the-risks-part-i#When:20:36:56Z It's the phone call no courier owners want to hear, but it happens more than you might think.  As a business owner in the same day delivery world, cargo risks and courier insurance must be top-of- mind.  Depending upon your business practices and cargo insurance, the degree of risk you carry can vary greatly.  

Important questions you should be asking 

Obviously, the nature of the cargo you were transporting makes a difference: What exactly was in the van?  How many different customers' goods were on board?  How easily can the lost items be replaced?  How serious are the consequences if they don't reach…]]> 2020-05-27T20:36:56+00:00 <![CDATA[New Risks for Health Care Providers Amid Coronavirus]]> https://risk-strategies.com/knowledge-center/article/new-risks-for-health-care-providers-amid-coronavirus#When:13:29:51Z Hospitals, long-term care, and medical facilities are on the front lines of the pandemic. In addition to the mounting financial losses and personal sacrifices health care workers have had to make, health care organizations face new sets of challenges almost daily.

Here, we address some of the emerging risks and mitigating factors health care providers are experiencing today.

New Exposures from Telemedicine

With most of the country under some form of stay-at-home order since March, telemedicine services have skyrocketed. Experts say telemedicine has grown more in the last two months than in the last two years and is expected to…]]> 2020-05-21T13:29:51+00:00 <![CDATA[An Option for Medicaid Plans Facing COVID-19 induced Capital Constraints]]> https://risk-strategies.com/knowledge-center/article/an-option-for-medicaid-plans-facing-covid-19-induced-capital-constraints#When:15:20:58Z An April 3, 2020 a study by Health Management Associates projected likely gains in Medicaid plan enrollment resulting from the economic downturn from the COVID-19 pandemic. The study outlined low, medium, and high unemployment scenarios with the projected member numbers in 50 states. (At the date of this writing, unemployment figures are already well into the ‘high’ scenario.) The report has proven prescient. A rapid infusion of new members could result in Medicaid health plans experiencing an unanticipated need for capital to meet reserve requirements and administrative expenses. While some states could elect to ease Risk Based Capital (RBC)…]]> 2020-05-15T15:20:58+00:00 <![CDATA[Showtime? How the PRIA bill could help re-start US media production]]> https://risk-strategies.com/knowledge-center/article/showtime-how-the-pria-bill-could-help-re-start-us-media-production#When:13:57:12Z The current ‘‘Pandemic Risk Insurance Act of 2020,’’ or PRIA Bill circulating in the U.S. House of Representatives today proposes partnering the Federal Government with private insurers to provide otherwise excluded coverage for Business Interruption due to COVID-19 for many sectors of the U.S. economy. Unfortunately, the current version of PRIA misses the exposures faced by one of this country’s most successful and growing manufacturing sectors - Media Production.

From Louisiana to Georgia, North Carolina and Pennsylvania to Ohio and New Mexico, the manufacturing of films, television and streamed shows, as well as web-based new media has become prolific in…]]> 2020-05-15T13:57:12+00:00 <![CDATA[During COVID, Transportation Industry Keeps on Rollin’]]> https://risk-strategies.com/knowledge-center/article/during-covid-transportation-industry-keeps-on-rollin#When:16:55:20Z In this worldwide economic slow-down caused by the coronavirus, transportation is a critical infrastructure that continues to churn along, keeping America’s supply chain moving. Nowhere is this more evident than in retail and the restaurant sector where closures have led to a surge in online sales and food delivery, which has increased demand on delivery and logistics companies operating in the last-mile and home delivery segments.

As a specialty broker in same-day delivery insurance with over 3,000 clients nationwide, we are seeing how nimble and resilient the industry is as it’s forced to adapt to this new normal.

The…]]> 2020-05-11T16:55:20+00:00 <![CDATA[Preparing for Hurricane Season During a Pandemic]]> https://risk-strategies.com/knowledge-center/article/preparing-for-hurricane-season-during-a-pandemic#When:13:03:05Z The Atlantic coast is accustomed to planning for hurricane season every year. But as the June 1 start of a predicted “busier than average” season draws closer, and the COVID-19 pandemic rages on, questions and uncertainties about how to handle two crises at once are bubbling to the surface. Without proper planning, the threat of hurricanes combined with COVID-19 is a recipe for disaster.

So how do you prepare for hurricane season in the middle of quarantine? What happens if you’re forced to evacuate while stay-at-home orders are in place? What help, if any, will local, state and federal governments…]]> 2020-05-11T13:03:05+00:00 <![CDATA[What’s @ Risk?]]> https://risk-strategies.com/knowledge-center/article/whats-risk#When:20:12:38Z Check out our podcast! An ongoing examination of the risk management and employee benefit challenges facing a wide variety of industries - sharing insights from experienced professionals you can trust.

This week in this two-part series, our National Cyber Practice Leader, Robert Rosenzweig, RPLU, discusses the new cyber risk exposures for businesses who are operating remotely due to COVID-19, and how to structure your insurance program to address them. Listen to both episodes of our new podcast, What’s @ Risk hosted by Edward Flanagan.

 

 

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2020-04-22T20:12:38+00:00
<![CDATA[Securing the Remote Workforce in the Wake of the COVID-19 Global Health Crisis]]> https://risk-strategies.com/knowledge-center/article/securing-the-remote-workforce-in-the-wake-of-the-covid-19-global-health-crisis#When:18:39:24Z As anticipated at the onset of the COVID-19 pandemic the industry has seen a significant uptick in cyber fraud in the last month and a half.  The FBI recently cited an average number of 3,000 to 4,000 daily complaints about online scams compared to approximately 1,000 prior to COVID-19. 

Cyber criminals are opportunistic and taking advantage of companies at their most vulnerable.  This is a result of the following unique risk factors that have been heightened with the rapid shift to remote working arrangements: 

  • Resources from Operations & Information Security diverted elsewhere.
  • Employees are using technology that they are…]]> 2020-04-22T18:39:24+00:00 <![CDATA[COVID-19 And The Scramble For Savings]]> https://risk-strategies.com/knowledge-center/article/covid-19-and-the-scramble-for-savings#When:18:53:43Z As the economic challenges grow for businesses across all industries, more and more companies are looking at cost reductions as a source of “found money.”  After the benefits of the Payroll Protection Program and the CARES Act fade away, the pandemic passes and the economy reopens, employers will likely be grappling with the longer term effects on customers, supply chains, distribution chains, etc., and extend this search for cost reductions. Insurance is sure to be one area. 

    While some insurers are extending grace periods for premium payment, and in some cases offering rate passes for policies renewing in the middle…]]> 2020-04-17T18:53:43+00:00