<![CDATA[Blog]]> https://www.risk-strategies.com/ en info@risk-strategies.com Copyright 2021 2021-08-05T13:05:25-04:00 <![CDATA[Amazon is not your HR role model]]> https://risk-strategies.com/knowledge-center/article/amazon-is-not-your-hr-role-model#When:15:01:07Z In the world of last mile deliveries, Amazon is seen by many as an innovator. Its booming delivery network of contracted Amazon DSPs, and use of new tech in delivery systems, has set the pace for the industry, leading others to adopt parts of its practices. But some of the innovations have been harmful and not worth replicating.

Most recently, Bloomberg detailed  how Amazon Flex drivers were being fired by an algorithm that determined if their performance was not up to par. In many cases, these firings occurred after events beyond the driver’s control: they were sent to deliver…]]> 2021-08-04T15:01:07+00:00 <![CDATA[The Other Side: Concentrated Risk Abound as Live Performance Returns]]> https://risk-strategies.com/knowledge-center/article/the-other-side-concentrated-risk-abound-as-live-performance-returns#When:17:45:13Z The curtains are once again rising for live performances across the country. Broadway announced plans to re-open at full capacity in September, and flashy shows in Las Vegas have returned with socially distant performances, with plans to expand capacities and offerings in August. Performers and theatre professionals everywhere are breathing a sigh of relief, “we’re back!”, but the pandemic’s impact on the world of live performance will be felt for years to come, especially when it comes to protocols, tourism, and insurance coverage.

Insurers’ Revelation: Concentrated Risk

For years, coverage offered to performing arts companies across the country was extremely…]]> 2021-07-30T17:45:13+00:00 <![CDATA[PCORI Fee Deadline Quickly Approaching]]> https://risk-strategies.com/knowledge-center/article/pcori-fee-deadline-quickly-approaching#When:18:52:58Z For many employers, the month of July presents multiple employee benefits program compliance deadlines. For instance, if you have a calendar-year plan, you have probably spent time over the past couple of months preparing your Form 5500 filing.

Another deadline you may face at this time of year is the Patient-Centered Outcomes Research Institute (PCORI) fee filing. Part of the Affordable Care Act, this requirement generally applies to health insurance issuers and plan sponsors of self-insured health plans. Employers offering a Health Reimbursement Arrangement (HRA) alongside a fully-insured health insurance plan also are generally required to comply with the…]]> 2021-07-27T18:52:58+00:00 <![CDATA[The Other Side: Leading Workplace Transformation in Insurance Post-Pandemic]]> https://risk-strategies.com/knowledge-center/article/the-other-side-leading-workplace-transformation-in-insurance-post-pandemic#When:18:07:42Z Complete organizational transformation was not at the top of my to-do list when I joined Risk Strategies in December 2019. Yet, when the pandemic landed at our doorstep mere months after my tenure began, the success and survival of our business depended on a rapid overhaul of our operating environment.

As a leadership team, we knew that the safety and well-being of our employees had to come first. We pivoted rapidly, transitioning our North American organization’s 100 offices and 2,500+ employees from fully in-office to fully at-home in a matter of days. As early as April 2020, we began to…]]> 2021-07-26T18:07:42+00:00 <![CDATA[The Other Side Series: COVID-19 Transformed the Workplace. How Should Employers Respond?]]> https://risk-strategies.com/knowledge-center/article/the-other-side-series-covid-19-transformed-the-workplace-how-should-employers-respond#When:17:23:37Z The pandemic forced a rapid, largely ad hoc transition to remote work. As the crisis fades, businesses are grappling with the reality that operations will never completely return to what they once were. For decades, human capital management was cut and dry - 95% of office-based employees worked in an in-person setting with direct employer oversight. In a post-COVID landscape, 80% of those employees are reportedly choosing to work remotely long-term. Effectively managing a remote workforce comes with massive, and new, challenges.

How do you maintain the fabric that connects employees when they aren’t seeing each other in person? How…]]> 2021-07-16T17:23:37+00:00 <![CDATA[Employee Benefits Compliance Alert: Form 5500 Filing for Calendar Year Plans Due July 31]]> https://risk-strategies.com/knowledge-center/article/employee-benefits-compliance-alert-form-5500-filing-for-calendar-year-plans-due-july-31#When:16:36:32Z When thinking of July, thoughts quickly drift to using some well-deserved vacation days. For those involved in the world of employee benefits, however, making plans for the month of July often centers on meeting multiple compliance deadlines that may impact your organization’s benefits program.

For instance, if you have a self-insured plan, including an HRA, your organization may be required to file the annual PCORI fee by July 31st. (This year, the actual due date will be August 2, 2021, since July 31 falls on a Saturday.) This is a compliance requirement that was instituted under the Affordable Care Act.

<![CDATA[Surprising Trends in Transportation, Spurred by the Pandemic]]> https://risk-strategies.com/knowledge-center/article/surprising-trends-in-transportation-spurred-by-the-pandemic#When:18:51:12Z The transportation industry has spent the past 18 months racing to meet the steep increase in delivery demands. Throughout this time, we have kept an eye on trends and data within the sector, looking closely at loss trends that could affect our clients. Surprising pandemic-related spikes in three areas are worth examining more closely.

Surge in Cargo Theft

Throughout 2020, the number of cargo thefts skyrocketed to 1,502. This a 26% increase over the previous year. This figure includes both goods stolen out of vehicles and cargo-laden trucks being stolen. Criminals targeted medical supplies and household goods. Given the…]]> 2021-07-09T18:51:12+00:00 <![CDATA[Risk and Opportunity in the Emerging Cannabis Industry]]> https://risk-strategies.com/knowledge-center/article/risk-and-opportunity-in-the-emerging-cannabis-industry#When:15:17:46Z The Cannabis industry has been evolving for over a decade. The process of professionalizing marijuana sales was slow to start, but sped up over the last few years as more states have legalized it for medicinal and recreational purposes (the count stands at 37 for medical use and 16 for recreational so far). As the legal landscape shifts, more businesses are popping up to support the skyrocketing industry – and quickly discovering the manifold exposures involved.

Heightened Liability

Insurers for the cannabis industry work with companies at all stages of the supply chain – from the cultivators and manufacturers…]]> 2021-07-08T15:17:46+00:00 <![CDATA[The Other Side Series: The State of the Insurance Market Post-COVID]]> https://risk-strategies.com/knowledge-center/article/the-other-side-series-the-state-of-the-insurance-market-post-covid#When:13:22:58Z After 18 months of lockdowns, quarantines, and impacts to our personal and business lives, we are beginning to enter a post-COVID phase. Companies of all sizes have announced plans to reopen offices by fall, or sooner. As restrictions are lifted and things inch closer to “normal”, there is much to be happy about. We’re reuniting and most businesses that were hurt most by shutdowns and capacity restrictions are returning full or at least partial force. In the midst of these celebrations, the reopening presents an uncharted landscape and unique challenges for the insured and for insurers. There are a number…]]> 2021-07-08T13:22:58+00:00 <![CDATA[FAQ: Kaseya VSA Supply-Chain Ransomware Attack]]> https://risk-strategies.com/knowledge-center/article/faq-kaseya-vsa-supply-chain-ransomware-attack#When:13:35:21Z The United States Federal Bureau of Investigations, the Cybersecurity and Infrastructure Security Agency (CISA) and multiple media outlets have reported a supply-chain ransomware attack exploiting a vulnerability in Kaseya VSA software.

What Happened

On Friday, July 2nd, Kaseya, notified customers and posted a notice on their website regarding a possible attack against their VSA Software product. VSA is a unified remote-monitoring and management tool for handling networks and endpoints. It is primarily used by MSSP (Managed Security Service Provider) and enterprise clients.  

Who is at Risk

Organizations that have either a Kaseya VSA server on-premise or that are managed remotely…]]> 2021-07-06T13:35:21+00:00