Healthcare Industry Risk Management: Are We Adapting to Telemedicine? According to industry analysts, telemedicine has the potential to deliver more than $6 billion a year in healthcare savings to U.S. businesses, yet healthcare providers seem somewhat reluctant to adopted telemedicine into their practices. In their recently released poll, the Healthcare Information and Management Systems Society (HIMSS) conducted an inquiry into … Read More
Wallingford Financial Management: Withstanding Economic Instability
Wallingford Financial Management: Withstanding Economic Instability Over 10.5 million unemployed Americans are still searching for work as we move forward into this recession recovery period. The last few years have seen a significant regeneration of employment opportunities over all. However, a recent report released by the National Employment Law Project indicates that the quality of new job growth may neither … Read More
Connecticut Business Risk Management: Workplace Violence
Connecticut Business Risk Management: Workplace Violence According to the Bureau of Labor Statistics 17% of all workplace fatalities are a result of workplace violence, higher than all other workplace casualty causes except transportation. Workplace safety awareness efforts regarding mechanical and hazardous substances have dramatically reduced the number of workplace accidents as shown in the statistical findings. As a result, the … Read More
Risk Management Tips for the Trucking Industry
Risk Management Tips for the Trucking Industry According to the Federal Motor Carrier Safety Administration (FMCSA), over the past two decades, the number of truck accidents has increased by 20%. Federal laws and regulations govern the trucking industry, and these laws establish certain standards that trucking companies, owners, and drivers must meet. However, true safety awareness starts with the drivers … Read More
Boston Commercial Property Insurance: Business Interruption Recovery
Boston Commercial Property Insurance: Business Interruption Recovery The harsh and somewhat unexpected winter weather has left many businesses in the east facing situations they never have before. Severe winds, melting ice, and extreme cold temperatures can cause significant property damage for businesses. In the event of the extended downtime, especially during a winter storm, getting back on your feet can be … Read More
Understanding the Value of Risk Management in the Healthcare Industry
Understanding the Value of Risk Management in the Healthcare Industry Maximizing profits, or at least not operating at a loss, has long been at the forefront of business objectives for the healthcare industry. It’s important, however, for healthcare practitioners to look at just how much risk can or should be taken to reach their objectives. A question that many healthcare … Read More
Connecticut Aviation Insurance: Reducing Risks
Connecticut Aviation Insurance: Reducing Risks Many pilots and aviation experts will tell you that the key to aviation safety is experience. They’ll say that experience is hands-down the best teacher, and that the learning pilot faces elevated risks in the course of gaining experience. Of course, experience alone doesn’t ensure that you’ll never face a risk or a legal issue. … Read More
Risk Management Tips for the Food Manufacturing Industry
Risk Management Tips for the Food Manufacturing Industry If you are a manager or owner in the food and beverage industry, you know that it takes attention to many details to create a financially sound business, including the freshness of your ingredients, the right equipment, and a service-oriented staff. Of course running this type of business comes with risks. Here … Read More
Construction Insurance CT: Tips for Job Site Safety
Construction Insurance CT: Tips for Job Site Safety Each year, there are thousands of injuries and hundreds of fatal accidents related to machine and equipment operation. According to the Occupational Safety and Health Administration (OSHA), many of these accidents involve the operator, but over half involve people on the ground, including spotters, co-workers, laborers, shovel hands, civilians and sidewalk superintendents. … Read More
How Risk Management and Risk Analysis Works
How Risk Management and Risk Analysis Works A few factors that contribute to business risks include uncertainty in financial markets, threats from project failures at any phase, legal liabilities, credit risks, accidents, or even events of uncertain or unpredictable root-causes. Risk management ideally will prioritize the risks, placing those with the greatest loss or impact and the greatest probability of … Read More