As businesses face increasing ‘polycrisis’ threats, traditional risk management approaches need an update for today’s interconnected challenges, per a RIMS executive report.
Technology advancements are enabling insureds and their risk management partners to get a better grip on the range of settlement amounts on some types of claims.
Leveraging integrated data empowers organizations to make superior risk management decisions, driving strategic initiatives and enhancing competitive advantages.
Insurers faced mounting losses from frequent severe storms and floods in the first nine months of 2024, despite overall losses below average, according to Gallagher Re’s Nat Cat Report.
“We have from one to 50 different insurers utilizing the data we gather. We want our clients, the insureds, to walk into their market meetings every year armed with this data to present to the markets.”
Mary-Lynn Ryan and Barbara Hunyady of ProAssurance share their insights on the challenges physicians face during medical malpractice trials, the resources available to them, and the role of risk management in maintaining their professional standing.
In the complex landscape of middle market business operations, risk management stands as a watch guard, protecting employees and organizations from the unforeseen and the preventable. Yet many leaders still don’t think about risk management as a key performance metric for a productive and healthy business.