Workplace Substance Abuse: $100,000,000 A Year – And Growing

That’s how much the federal government estimates that drug and alcohol abuse costs American businesses. Nearly three in four adult abusers are employed, some of them perhaps by you! You might know these people by their absenteeism rate: they’re off the job at 2.5 times the rate of the average employee. There is no federal… Read more »

Risk Management: Think Like An Underwriter

  Chances are that you outsource most risk management functions to an insurance company representative or agent. However, to protect your business against the risks you face at a price you can afford, you need to control the presentation of your loss and coverage information to insurers. In other words, it makes sense to provide… Read more »

Check Out This Social Media Use Checklist

Social media rules! In a recent study, Twitter, Facebook, Google+ and Tumblr users sent tens of millions of messages every day– and new players keep entering the marketplace. Although these platforms provide significant benefits for businesses of all sizes, they also pose a variety of risks. Everything from employment, privacy and security, through intellectual property… Read more »

Alternative Risk Financing: Not Just ForThe Big Guys

Large corporations often use “alternative risk financing” – assuming some of their own risks, in addition to buying insurance – as a way to improve cash flow and lower their total costs. However, this technique can offer substantial benefits for medium-sized companies that face significant potential risks from one line of insurance, such as Workers… Read more »

Risk Management: Keep Safety In The Forefront

Once employees have gone through safety training, make sure that they use what they’ve learned. When every worker knows and chooses the safe way on a daily basis, you’ll have a workplace with less chance of accidents and injuries. This four-step approach to job safety will pay dividends: Team up to solve problems and improve… Read more »

Use Social Media As A Risk Management Tool

Given the dramatic impact of social media on the speed and delivery of news and information, it makes sense to make this fast-growing technology part of your risk management program. More and more reputational crises – such as the recent stranding of the Carnival Triumph cruise ship – are born on social networking platforms and… Read more »

Data Thieves Target Smaller Businesses

When it comes to hackers stealing confidential client information, most people think of their primary targets as mega-corporations; banks, credit card providers, online retailers, and so forth. (American Express, MasterCard, and Sony come to mind.) However, more than half of small and midsize businesses have experienced at least one data breach in the past year,… Read more »

Human Resources And Risk Management

The primary role of human resources in risk management deals with employment practices; not getting trapped in wage and hour claims, discrimination and harassment litigation, and wrongful termination lawsuits. Then there’s leave management, including ADA and FMLA. Human relations can also play a key role in other aspects of managing risk for your business, such… Read more »