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Risk Management

Risk Management in the Sharing Economy

At the end of 2015, the Oxford English Dictionary released its list of words of the year. Although the actual winner was not even a word (it was an emoji), what got my attention was one of the runners up: “sharing economy.” Oxford defines the sharing economy as: “An economic system in which assets or...

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Risk Management

How to Buy Cyber Liability Insurance: 4 Types to Consider

Cyber Risk is Changing In the recent past, the traditional view of cyber liability was the exposure of an organization to liability arising from the negligent management of private data in its care. The traditional exposure here was mainly for retail, health care, or banking industries, and the costs associated with a cyber loss were...

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Risk Management

4 Trends in Cyber Crime Risk Management

As companies continue to seek technological solutions that allow them to conduct business quicker and more efficiently, cyber crime will continue to increase. There is simply no avoiding the risk of cyber crime in this day and age. Instead of reacting to incidents of cyber crime, organizations must take a proactive stance now to mitigate...

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Risk Management

How the Insurance Marketplace Is Stacked Against the Buyer

The commercial marketplace for property and casualty insurance has inherent structural conflicts, granting the true power to the suppliers (insurers, agents, and brokers), not the buyers. It’s first important to understand how the marketplace is organized, with insurers, agents, and brokers. Agents Don’t Work for You Insurance agents are just that—they are legal agents representing...

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Risk Management

5 Ways to Minimize Your Company’s Risk of Cyber Crime

In our modern society, each of us is at an increased risk of becoming a victim of cyber crime. If you’re carrying a cell phone, surfing the Internet, using email and making purchases with a credit card, you are a target, in one form or another. Companies of all kinds are at risk for cyber...