<![CDATA[Blog]]> https://www.risk-strategies.com/ en info@risk-strategies.com Copyright 2020 2020-10-28T04:12:46-04:00 <![CDATA[Yes to Prop 22? The Future of App-Based Services]]> https://risk-strategies.com/knowledge-center/article/yes-to-prop-22-the-future-of-app-based-services#When:15:54:57Z It’s rare that the future of an industry relies upon a vote in an election, but that’s what seems to be happening with the gig economy. Employers and workers are both anxiously waiting for November 3rd.

Now considered the most expensive ballot measure in state history, California’s Proposition 22 is clocking in at $200 million after being bankrolled by gig economy powerhouses like Uber, Lyft and DoorDash. Coined “Prop 22,” this ballot initiative would override AB5 and classify app-based delivery drivers as independent contractors (IC) rather…]]> 2020-10-27T15:54:57+00:00 <![CDATA[A Better Mousetrap:  Reference Based Pricing]]> https://risk-strategies.com/knowledge-center/article/a-better-mousetrap-reference-based-pricing#When:19:47:21Z In the ongoing, seemingly never-ending, battle against rising medical costs, reference based pricing (RBP) may be a smart approach for self-insured health plans. Here, I’ll provide an overview looking at what I’ve found working with clients moving to this model: areas of concern, keys to success, and a blueprint of what you can expect when entering into a Reference Based Pricing model.

Simply put, RBP is a cost containment model that limits what a health plan will reimburse providers for services. Typically, reimbursement rate criteria under an RBP model is a set percent of the Medicare price or the facility’s…]]> 2020-10-26T19:47:21+00:00 <![CDATA[The Risks Behind the Telemedicine Boom]]> https://risk-strategies.com/knowledge-center/article/the-risks-behind-the-telemedicine-boom#When:19:26:37Z The COVID-19 pandemic has placed enormous strain on health care delivery. As providers have scrambled to deliver patient care while meeting new sanitization and social distancing requirements, telemedicine consequently exploded into popularity as both patients and doctors gladly traded physical visits with virtual ones whenever possible. While, overall, this is a positive advancement for health care, it does come with additional and relatively new risks for providers.

Risk vs. Reward

Telemedicine is a great way for patients to follow up with doctors, consult about medications, keep up with regular therapy sessions and more. However, the sudden pandemic surge in demand…]]> 2020-10-26T19:26:37+00:00 <![CDATA[Ransomware Sanctions]]> https://risk-strategies.com/knowledge-center/article/ransomware-sanctions#When:18:44:37Z The Office of Foreign Assets Control (OFAC) has issued an advisory for businesses who may find themselves victims of ransomware attacks. The advisory warns that making payments to cyber criminals could violate anti-money laundering sanctions. It also applies to incident response and insurance companies that help facilitate ransomware payments.

The sudden announcement from the U.S. Treasury department has alarmed some businesses who are now left wondering if they will face penalties for paying ransom demands and whether Cyber insurance is still viable. In truth, nothing has fundamentally changed. This advisory simply reiterates what we already knew.

Longstanding Regulations

OFAC…]]> 2020-10-22T18:44:37+00:00 <![CDATA[Drone Delivery: Fad or Future?]]> https://risk-strategies.com/knowledge-center/article/drone-delivery-fad-or-future#When:19:58:24Z Drones transporting organs and medical prescriptions. Robots delivering groceries and take-out to college students on campus. Self-driving vans ferrying automotive parts. And the list goes on.

The COVID-19 pandemic has focused the need for fast and contact-free delivery of goods. But even after the crises passes, the continued success of e-commerce will depend on further automation. To this end, many major retail and logistics companies are accelerating their efforts to reinvent last-mile delivery. By using drones and other autonomous vehicle (AV) systems such as cars and robots, these companies may drive new efficiencies into the burgeoning world of online retail…]]> 2020-10-14T19:58:24+00:00 <![CDATA[Don’t Take the Bait: How to Protect Against Phishing Scams]]> https://risk-strategies.com/knowledge-center/article/dont-take-the-bait-how-to-protect-against-phishing-scams#When:15:36:29Z When it comes to cyberattacks, companies of all sizes are only as strong as their weakest link. All it takes is one employee to mistakenly click on a link, and instantly a hacker can gain access to the firm’s network and all they hold dear.

Social engineering is one of the most common, and basic, hacker tactics. If an employee doesn’t recognize the hallmarks of a social engineering scam, they can easily expose themselves and their company to a great deal of risk as well as a costly response and remediation process. Ensuring they have this required insight and understanding…]]> 2020-10-08T15:36:29+00:00 <![CDATA[Hurricane Alert - Time to Prepare]]> https://risk-strategies.com/knowledge-center/article/hurricane-alert-time-to-prepare#When:00:42:07Z The 2020 Hurricane Season is extremely active. If you’re in the 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 be your primary resources.

  • Prepare for wind AND water – Wind speeds get the…]]> 2020-10-08T00:42:07+00:00 <![CDATA[Lessons Learned for the Delivery Industry from AB5]]> https://risk-strategies.com/knowledge-center/article/lessons-learned-for-the-delivery-industry-from-ab5#When:00:36:41Z On January 1, 2020, a contentious California proposal, Assembly Bill 5, became law. Commonly known as AB5, it requires many companies that use independent contractors to reclassify them as employees. Once reclassified, these employees are entitled to the benefits afforded to employees under California state law: minimum wage, expense reimbursements, health coverage, and rest breaks, among others. For employers, this transition means one thing: higher costs. While AB5 seemed targeted at so-called gig economy stars – particularly the ridesharing platforms Uber and Lyft – the fallout has bubbled into other sectors, like the delivery industry, and has implications beyond the…]]> 2020-10-08T00:36:41+00:00 <![CDATA[The Growing Ransomware Threat: How to Identify & Remediate Common Vulnerabilities]]> https://risk-strategies.com/knowledge-center/article/the-growing-ransomware-threat-how-to-identify-remediate-common-vulnerabilities#When:00:49:04Z With Robert Rosenzweig, Mike Convertino (Arceo.AI), Bill Hardin (Charles River Associates), and Steve Krusko (Berkley Cyber Risk Solutions)

    In our latest Cyber webinar, our National Practice Leader Robert Rosenzweig partnered with experts from Arceo.ai, Charles River Associates and Berkley Cyber Risk Solutions to delve into some of the most pressing ransomware threats businesses are facing and how to defend against them. Too many organizations are leaving themselves open to attacks when they can be taking steps to prevent them, and the cost of complacency can be staggering!

    What You Missed

    Current Ransomware Trends

    “Cybercrime” encompasses a wide…]]> 2020-10-07T00:49:04+00:00 <![CDATA[Wildfires: What to Know About Preparation and Evacuation]]> https://risk-strategies.com/knowledge-center/article/wildfires-what-to-know-about-preparation-and-evacuation#When:00:48:45Z This year’s wildfire season has been one for the books. According to the National Interagency Fire Center, 41,051 wildfires occurred between January and September, compared with 35,386 wildfires in the same period in 2019. And 4.7 million acres have been burned this year, compared to 4.2 million in 2019. And wildfire season isn’t over yet, as firefighters work to combat the fires that have extended past California and into the Pacific Northwest.

    While homes and businesses located in fire zones are generally aware of fire safety, many aren’t nearly as prepared as they should be. With this year’s wildfires…]]> 2020-10-03T00:48:45+00:00