Hurricane Isaias hit the East Coast last week, causing damage and destruction in its path to both communities and businesses. Trees have fallen, houses where many are working remotely have been left without internet access, and businesses have been stripped of electrical power and with it the ability to function in the capacity they have been accustomed to in the last few months as their staff adapts to the “new normal.”
Topics: named storm/named windstorm, Risk Management Blog, The ALS Group, Total Cost of Risk, business continuity plan, hurricane season, preparedness, hurricane
As we are “flattening the curve” and the economy is slowly opening, employees will start to transition back to the office after nearly four (4) months of working from home. The COVID-19 pandemic forced many organizations to close and, those that did not have a disaster recovery/business continuity plan in place had to scramble to come up with a “work from home” solution in order to keep their business running while keeping their employees safe and healthy. Such “on the fly” solutions can cause serious complications as employees return to the office, and company leadership realizes that they must adjust their risk strategies to suit the “new normal”.
Topics: Enterprise Risk Management, Total Cost of Risk (TCoR), pandemics, COVID-19, business continuity plan
Most businesses in the United States have been impacted by the COVID-19 pandemic. As the illness spreads far and wide, many businesses have had to comply with local and federal "stay at home" orders, as well as orders to cease all non-essential construction work, causing delays, and disruption across the construction industry.
Topics: Claims Management, Construction, Enterprise Risk Management, pandemics, COVID-19, business continuity plan
An effective risk management strategy always comes down to preparedness. The recent closings and business disruptions due to COVID-19, the illness caused by the spread of novel coronavirus, once again, demonstrate the importance of companies having a comprehensive Business Continuity Plan (BCP). If your business is one of many that cannot simply close doors and expect to be able to re-open after the pandemic dies down,having such plan in place will insure that you can maintain the essential functions of your business during a major disruption.
Topics: Enterprise Risk Management, Strategic Risk Management, Total Cost of Risk (TCoR), Worker's Compensation, pandemics, business continuity plan
With the end of the year rapidly approaching, one of the most significant “lessons learned” in 2012 was that Disaster Recovery (DRP) or Business Continuity Planning (BCP) are critical parts of any business’ overall strategic plan.
Topics: Enterprise Risk Management, named storm/named windstorm, Total Cost of Risk (TCoR), business continuity plan