The Risk Recon
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Topics related to safety & loss control measures that can reduce risk costs and insurance premiums, while adding value to business operations and enhancing cash flow.  www.theriskrecon.com for additional information.
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Cyber insurance market continues to expand - Business Insurance

Cyber insurance market continues to expand - Business Insurance | The Risk Recon | Scoop.it
Business Insurance Cyber insurance market continues to expand Business Insurance Companies are increasingly purchasing stand-alone policies rather than relying on professional liability, crime, property and general liability policies for...
Brian S. Smith, CIC, ARM's insight:

Cyber insurance, again...Expansion of the market continues to get even better.  

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Troubled QBE sells US business for $90 million

Troubled QBE sells US business for $90 million | The Risk Recon | Scoop.it
The financially burdened Australian insurer is selling a portion of its US business at a loss in order to free up $100 million in capital.
Brian S. Smith, CIC, ARM's insight:

QBE in the news again.  Selling off the unprofitable mortgage insurance unit.

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Why a Risk Manager in Louisiana Should be Licensed as an Agent

Why a Risk Manager in Louisiana Should be Licensed as an Agent | The Risk Recon | Scoop.it
Risk Manager Can Be Liable For Failing to Provide Coverage Ordered Insurance Risk Management companies help their client obtain insurance by negotiating on behalf of an insured with insurance agent...
Brian S. Smith, CIC, ARM's insight:

What is the recourse of a Risk Manager if they fail to adequately procure the right type of insurance for their client?  This article details a recent court case in which the Licensing of a Risk Manger is being considered.

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Big broker mergers: What they mean for smaller independents

Big broker mergers: What they mean for smaller independents | The Risk Recon | Scoop.it
Local independent agencies would do well to pay heed to major deals among bigger brokerages, such as that between Willis and Towers Watson.
Brian S. Smith, CIC, ARM's insight:

Efficiency and client attention suffers as a result of Commercial Insurance Mega-Broker  consolidation.  

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Aetna to buy Humana for $37 billion in largest insurance deal - Business Insurance

Aetna to buy Humana for $37 billion in largest insurance deal - Business Insurance | The Risk Recon | Scoop.it
Business Insurance
Aetna to buy Humana for $37 billion in largest insurance deal
Business Insurance
...
Brian S. Smith, CIC, ARM's insight:

First ACE buy Chubb on the Commercial Insurance Front, Now Aetna buts Humana.  A lot to take in.

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Industry Exposure: Business Blog – What’s Your Business Travel Plan When Natural Disasters Strike? – RiskConversation.com

Industry Exposure: Business Blog – What’s Your Business Travel Plan When Natural Disasters Strike? – RiskConversation.com | The Risk Recon | Scoop.it
The continued risk of natural catastrophes is highlighted by the unprecedented series of disasters that have occurred in the United States in recent year
Brian S. Smith, CIC, ARM's insight:

How would you get your employees out of a foreign country if a natural disaster struck there while on business?  Is your plan appropriate for such exposures?  This article explores a few of the key points to consider for any business travel plan.

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California is on a bumpy road to workers' compensation recovery - PropertyCasualty360

California is on a bumpy road to workers' compensation recovery - PropertyCasualty360 | The Risk Recon | Scoop.it
The Golden State’s $16.5 billion workers’ compensation marketplace is stubbornly showing signs of recovery as a result of reform measures introduced two years ago.
Brian S. Smith, CIC, ARM's insight:

California Workers' Comp may be improving due to reforms placed two years ago.  Insurers likely to return to writing WC again in California.

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Legislative Changes to the Georgia Workers’ Compensation effective July 1, 2015 | Hall Booth Smith, P.C.

Legislative Changes to the Georgia Workers’ Compensation effective July 1, 2015 | Hall Booth Smith, P.C. | The Risk Recon | Scoop.it
Brian S. Smith, CIC, ARM's insight:

Georgia Workers' Compensation Changes Effective July 1, 2015 - interesting and valuable insight courtesy of Hall, Booth, Smith, P.C.

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What Is Commercial General Liability Insurance?

What Is Commercial General Liability Insurance? | The Risk Recon | Scoop.it
Commercial general liability insurance is a business insurance policy that covers services of the injured party and compensates for negligence that occurs.
Brian S. Smith, CIC, ARM's insight:

A good refresher for those needing an update on what exactly General Liability coverage is...

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ViaSat Lands Radio Terminal Production IDIQ with US Navy, Intl Clients

ViaSat Lands Radio Terminal Production IDIQ with US Navy, Intl Clients | The Risk Recon | Scoop.it
ViaSat Inc. (Nasdaq: VSAT) has been awarded a $478.6 million follow-on contract to produce and susta...
Brian S. Smith, CIC, ARM's insight:

Congratulation to ViaSat on this recent IDIQ award with US Navy, International Clients.

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Survey sheds light on biggest insurance misunderstandings

Survey sheds light on biggest insurance misunderstandings | The Risk Recon | Scoop.it
10 common myths expose where your clients' insurance awareness may fall short.
Brian S. Smith, CIC, ARM's insight:

Nice list of insurance misconceptions by 2,000 adults surveyed.

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Know the latest regarding workers' compensation - Business In Savannah

Know the latest regarding workers' compensation - Business In Savannah | The Risk Recon | Scoop.it
Upcoming changes to workers’ compensation laws will benefit employers, thanks to House Bill 412 passed during the 2015 Georgia legislative session.
Brian S. Smith, CIC, ARM's insight:

Important changes to Georgia Workers' Compensation law that affects employers and how death claims may be handled moving forward.

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Myths and realities of workers' compensation indemnity payments - PropertyCasualty360

PropertyCasualty360
Myths and realities of workers' compensation indemnity payments
PropertyCasualty360
Workers' compensation is more challenging than ever before.
Brian S. Smith, CIC, ARM's insight:

Workers Compensation Indemnity Payments Explained by Myths and Realities.

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Top 3 Overlooked Personal Lines Coverages

Top 3 Overlooked Personal Lines Coverages | The Risk Recon | Scoop.it
 Top 3 Overlooked Personal Lines Coverages When it comes to personal insurance policies, the concerns we hear most are: 1) how do I know my limits are right?, 2) I have not had a thorough review with my agent in a long time, so do I have the correct coverages?, and 3) Why does my premium keep going up without a justified reason? These are concerns our process will address along with answering the following questions caused by these sample claim scenarios…1) Uninsured Motorist Coverage: Driving h
Brian S. Smith, CIC, ARM's insight:

Take a look at this concise article on personal insurance coverage.  Three solid elements revealed.

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Ohio workers comp bureau refunds $255 million to overcharged employers - Business Insurance

Ohio workers comp bureau refunds $255 million to overcharged employers - Business Insurance | The Risk Recon | Scoop.it
Wooster Daily Record Ohio workers comp bureau refunds $255 million to overcharged employers Business Insurance The Ohio Bureau of Workers' Compensation on Friday said it has paid a total of $255 million to employers who were overcharged for their...
Brian S. Smith, CIC, ARM's insight:

Ohio Workers' Comp Bureau Refunds

Overcharging Ohio Workers' Comp Bureau states that 24,140 checks totaling $255 million were mailed to employers on June 29.

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Outsourcing OSHA Compliance Functions | Quality Digest

Outsourcing OSHA Compliance Functions | Quality Digest | The Risk Recon | Scoop.it
As regulatory compliance expands with fast-changing, ever-growing requirements, safety and quality professionals are falling behind.
Brian S. Smith, CIC, ARM's insight:

Is your staff overburdened by the many hats they already wear?  How is safety managed at your facility?  This article explores an alternative to hiring a full-time safety manager by utilizing an outsourced group. Further it details the top OSHA concerns from a compliance perspective.  If you are struggling with safety, read on...

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Company ordered to pay $536K for retaliating against injured worker

OSHA has ordered North America's second-largest freight railroad to reinstate an employee and pay him $536,063 for retaliating against him after reporting a knee injury.  Burlington Northern Santa ...
Brian S. Smith, CIC, ARM's insight:

Retaliation against an injured worker for reporting a knee injury, costs company more than just dollars.

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ACE Agrees to Buy Chubb for $28.3 Billion

ACE Agrees to Buy Chubb for $28.3 Billion | The Risk Recon | Scoop.it
ACE agreed to buy fellow property-and-casualty insurer Chubb in a cash-and-stock deal valued at $28.3 billion, the largest-ever deal between two companies in the insurance industry.
Brian S. Smith, CIC, ARM's insight:

ACE buys Chubb - Largest ever acquisition in the insurance industry.

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How Sharp Is Your Work Comp Fraud Detector? - WorkersCompensation.com (press release) (blog)

How Sharp Is Your Work Comp Fraud Detector?
Brian S. Smith, CIC, ARM's insight:

Good article on identifying the "Red Flags" of a workers' compensation case.  The list is well done in this scenario-driven article.

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Pirates, kidnappings, and ransom: The business of K&R indemnity policies

Kidnap and ransom (K&R) insurance is a virtual necessity for major players in every market, and a major opportunity for the insurance industry.
Brian S. Smith, CIC, ARM's insight:

An often overlooked coverage that is incredibly important for international travelers and business professionals, K&R can be a valuable asset in your arsenal of insurance programs.

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How to Live with Risks

How to Live with Risks | The Risk Recon | Scoop.it
You can’t get rid of them all.
Brian S. Smith, CIC, ARM's insight:

Retrospective considerations of risk management (looking at the past performance) is a traditional method of risk prevention.  This article explores the positive aspects of day-to-day risk management with an engagement of operations, corporate decision-making , and proper alignment of responsibilities. 

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Our next discussion | Out Front Ideas

Our next discussion | Out Front Ideas | The Risk Recon | Scoop.it
Brian S. Smith, CIC, ARM's insight:

Consider this webinar if you are interested in OSHA and its recent actions.  I am particularly interested in OSHA's view on post injury drug tests and safety incentives.  Thanks to Mark Walls of Out Front Ideas for the session.  

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Top 10 employment discrimination claims: EEOC

Top 10 employment discrimination claims: EEOC | The Risk Recon | Scoop.it
A new report from the EEOC reveals why employees file discrimination charges, and the EPL insurance implications that follow.
Brian S. Smith, CIC, ARM's insight:

Discrimination lawsuits are on the decline - Top 10 employee discrimination claims listed.  No. 1 is Retaliation, No. 2 Race, and No. 3 based on Sex.  See article for the next 7.

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Large versus small agencies: Who’s got the edge?

Large versus small agencies: Who’s got the edge? | The Risk Recon | Scoop.it
As organic growth for independents dives, one industry experts mulls the question of staying small versus branching out.
Brian S. Smith, CIC, ARM's insight:

According to Insurance Business America - Smaller agencies provide a more customer-focused experience than large insurance brokerages.

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Cybercrime Costs to Soar to $2T By 2019

Cybercrime Costs to Soar to $2T By 2019 | The Risk Recon | Scoop.it
Survey predicts businesses will be paying four times as much as this year in cybercrime costs.
Brian S. Smith, CIC, ARM's insight:

Cybercrime costs to soar in the next 5 years.  60% of all cybercrimes are destined to be within North America.

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