<![CDATA[Blog]]> https://www.risk-strategies.com/ en info@risk-strategies.com Copyright 2020 2020-09-29T23:54:04-04:00 <![CDATA[What’s at Risk During Acid Rain Incidents]]> https://risk-strategies.com/knowledge-center/article/whats-at-risk-during-acid-rain-incidents#When:16:59:26Z Remember acid rain? It’s still out there – potentially. Imagine a paper mill smokestack starts emitting sulfur dioxide and nitrogen oxide into the air. The acidified rain falls down on the surrounding properties or, worst case scenario, on people. Acid rain may seem like a nightmare from the past, but it is an ongoing concern for many property owners living near power plants or smokestacks.

Modern power plants are equipped with scrubbers that remove sulfur compounds from their flue gases, which has helped reduce the problem of acid rain. But if the scrubbers aren’t working properly, fossil fuels that contain…]]> 2020-09-28T16:59:26+00:00 <![CDATA[COVID-19 Opens New Road Forward for Retailers ]]> https://risk-strategies.com/knowledge-center/article/covid-19-opens-new-road-forward-for-retailers#When:13:56:00Z As non-essential businesses closed and people avoided public places, the COVID-19 pandemic radically changed what, when, and how people buy goods. Quickly gone were the days of walking through Target and impulse buying. Shopping online for essentials has become the new normal and suddenly, even Amazon’s two-day Prime shipping no longer meets the expectations of consumers who want their items immediately. It’s a big challenge for retailers, and a big opportunity for last-mile delivery.

For brands and merchants, aligning their business models with this shift and seeing it as more than a pandemic blip will be vital to positioning themselves…]]> 2020-09-22T13:56:00+00:00 <![CDATA[Adapting Resilient Design to a Pandemic]]> https://risk-strategies.com/knowledge-center/article/adapting-resilient-design-to-a-pandemic#When:16:25:46Z The Resilient Design Institute says that resilient design is to be prepared for the unpredictable with the “intentional design of buildings, landscapes, communities, and regions in order to respond to natural and manmade disasters and disturbances.” In the wake of COVID-19, architects and designers are working on a novel offshoot of this field: how to design resiliently for this current and future pandemics. We’re already seeing promising new designs and technology.

The world of architecture and design is, however, one populated by understandably meticulous planners who know that it only takes one tiny miscalculation or oversight to derail a…]]> 2020-09-15T16:25:46+00:00 <![CDATA[Why Is My Malpractice Premium Rising?]]> https://risk-strategies.com/knowledge-center/article/why-is-my-malpractice-premium-rising#When:13:19:40Z For over a decade, physicians saw decreasing and flat rates due to a soft market. They may have come to expect similar pricing in the future. So why is the market changing now?

  • Historically high malpractice verdicts. Some of the largest medical malpractice verdicts and payouts happened in 2019. For example, a Maryland jury awarded $229 million to a woman whose newborn suffered brain injury during childbirth, making it the largest medical malpractice verdict in U.S. history (the award was reduced to $209 million because of a state cap.) Illinois and California saw verdicts in the hundreds…]]> 2020-09-09T13:19:40+00:00 <![CDATA[The Ripple Effects of a Ransomware Attack]]> https://risk-strategies.com/knowledge-center/article/the-ripple-effects-of-a-ransomware-attack#When:16:15:15Z Ransomware attacks are on the rise, and the potential business interruption and remediation costs can be astronomical. Companies often find themselves in a bind because there is no guarantee that paying the ransom will result in getting back stolen data, nor will it guarantee protection from future breaches. On the other hand, companies may conclude that paying off the hackers will ultimately be the least costly option.

    And while companies typically fixate on the immediate threat to themselves, they may fail to realize that this kind of attack can have much more far-reaching effects – including shifting terms and costs…]]> 2020-08-27T16:15:15+00:00 <![CDATA[Coronavirus: A Turning Point for Higher Education]]> https://risk-strategies.com/knowledge-center/article/coronavirus-a-turning-point-for-higher-education#When:15:59:52Z The coronavirus has acutely impacted colleges and universities. Schools sent students home mid-year to complete coursework remotely and many are already opting not to hold in-person classes this fall. Necessary decisions for the safety and wellbeing of their students, faculty and staff, will nonetheless have a devastating financial impact.

    In a recent Forbes article, Richard Vedder, Professor of Economics Emeritus at Ohio University, predicts, “…we are going to see more colleges and universities close in the next couple of years or so than any other time in American history.”

    Instead of a doomsday moment, we need to see this as…]]> 2020-08-27T15:59:52+00:00 <![CDATA[Hurricane Alert - Laura Heads for Land]]> https://risk-strategies.com/knowledge-center/article/hurricane-alert-laura-heads-for-land#When:18:26:23Z The 2020 Hurricane Season appears to be one for the record books and Hurricane Laura is on track to make landfall in the Gulf Coast. 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 2020-08-26T18:26:23+00:00 <![CDATA[Hard-Hit Association Business Still Needs Cancellation Insurance]]> https://risk-strategies.com/knowledge-center/article/hard-hit-association-business-still-needs-cancellation-insurance#When:14:08:55Z Most professional associations and trade groups make 80% of their annual revenue from a single convention. They spend their entire year planning for that week-long event to generate exhibitor fees, continuing education revenue, registration sales and business growth from networking. If the event is cancelled because of a hurricane, earthquake, airline union strike or… wait for it… COVID-19, they could lose a significant portion of their annual revenue, if not be put out of business entirely.

      Obviously, COVID-19 has forced unprecedented cancellations of conferences, conventions, trade shows, sporting events, meetings and other revenue-generating events around the world, causing millions and…]]> 2020-08-19T14:08:55+00:00 <![CDATA[Preparing for Holiday Delivery Season During a Pandemic]]> https://risk-strategies.com/knowledge-center/article/preparing-for-holiday-delivery-season-during-a-pandemic#When:13:43:55Z Businesses have always prepared for the holiday shopping season, a.k.a. peak season, well in advance of its November/December time frame. However, the ongoing global pandemic restricting access to malls and retail stores has complicated matters and further accelerated the shift of consumer shopping behavior to solely online.

      In 2019, U.S. holiday e-commerce sales grew by 13.2% to $137.6 billion – a number that has been steadily growing year over year. This year, the supply chain has been in the equivalent of peak season for the past six months straight, and it shows. Manufacturers are struggling to keep up,…]]> 2020-08-19T13:43:55+00:00 <![CDATA[Storm Prep Alert - Isaias Heads for Land]]> https://risk-strategies.com/knowledge-center/article/storm-prep-alert-isaias-heads-for-land#When:20:37:22Z The 2020 Atlantic Hurricane Season is very active so far and now a named Storm, Isaias, is on track to make landfall in Florida in the next 24-36 hours. 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: