Creating an Effective Crisis Management Plan

October 13th, 2016

Inevitably, emergency and crisis situations will occur within the workplace. Having a crisis management plan in effect before they happen is essential. How your company plans for and responds to these crisis scenarios will ultimately affect the health of your organization.

The main goals of a successful crisis management plan should include preserving human life, mitigating damages and restoring normal business operations as quickly as possible following an emergency situation. The first step in preparing a crisis management plan involves identifying key members within your organization and forming a crisis management team. Your team will need to conduct a thorough risk management assessment to identify emergencies and disasters that may occur and create a response plan for each scenario. The plan should be simple and direct and contain easily understandable step-by-step instructions. Types of crisis situations may include the following:

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Insurance is a Commodity – Risk Management is an Art

October 12th, 2016

During times of economic downturn, it is not uncommon for companies to cut costs and scrutinize the pricing on everything from office supplies to vendor contracts. While this cost cutting may be necessary for short-term financial stability, executives must also consider the long-term ramifications of their actions.

One such misstep that could prove costly down the road involves the shifting of attitudes towards insurance brokerage services. By focusing only on obtaining the lowest possible premium pricing, companies may be leaving themselves exposed to gaps in coverage for risks that are not addressed. This could have a significant impact in the event of a large claim or loss.

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