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2018 is proving to be a challenge in terms of unexpected events. From weather to workplace violence, the constant is almost daily unexpected occurrences. In light of this new normal, a question arises. How can we prepare for these UFO’s (Unforeseen Occurrences)?

An important exercise is determining whether these things are truly unforeseen. The weather is a great example. Looking over the past 12-18 months of weather patterns we can make some assumptions. We can even look back over years to see what at the time appeared to be unforeseen weather events. For example, how many times has it snowed on baseball’s opening day? Enough to know it could happen again.

Being prepared for what might happen allows us to effectively deal with it when it does. It’s why we buy car and homeowner’s insurance; it’s why companies maintain liability insurance. We’re hoping nothing happens but want to be prepared just in case. Preparation goes beyond maintaining insurance policies, however.

Establishing an emergency plan takes the panic out of the moment. Knowing we have a strategy to deal with situations as they arise allows us to continue to focus on what matters, while knowing we can handle anything.

The added benefit of a plan is that it creates an expansive mindset. We can’t possibly think of every potential situation. When we have a plan for the things we can think of, we are more prepared for the things we couldn’t even imagine.

Preparation keeps us in control even in the most stressful situations. It is that control that safeguards the continuity of our operations. Consider these steps when creating your UFO Preparation Strategy:

1. List previous UFO’s your company has experienced. At the time you weren’t expecting them. Now that they’ve happened you can plan accordingly.

2. Take a look at what is happening in the world. Identify those things that could happen to your business. An example is cyber attacks.

3. Develop a strategy anyone can quickly implement in the event of a UFO.

a. You may need to create more than one plan depending on what you want to be prepared for.

b. Weather plans are different from workplace violence plans.

c. Power outage plans will have some of the same elements of a weather plan.

4. Document and train. Put each plan in writing, share it with everyone, and make sure there is ongoing training around the plans.

Preparation includes believing things could happen, creating a strategy to deal with the unexpected, and consistently reviewing strategies. Hopefully you never need these plans. Knowing they exist will provide peach of mind and freedom from concern. Engaging in this exercise increases the strength and sustainability of any organization.

In states where marijuana is now legal, companies are faced with an interesting dilemma. According to a recent Insurance Journal article titled, “Why Companies Are Relaxing Employee Drug Testing”, drug testing “restricts the job pool, and in the current tight labor market, that’s having an impact on productivity & growth”.

Many companies in states where marijuana is legal have decided to limit drug testing to jobs with safety concerns. This change in attitude and policy as it relates to drug use has its advantages. The ability to expand the candidate pool allows these companies to hire the people they need to meet production demands.

This change comes with its fair share of risks, as well. Workplace safety and productivity are potential issues to consider before eliminating drug testing. As more and more states elect to legalize medical and recreational marijuana, companies will need to evaluate their current policies and procedures, ensuring they are current and clearly outline the company’s expectations. Doing so can help to eliminate any potential discrimination lawsuits.

It is also important to discuss drug testing policies with your attorney and insurance agent prior to implementation. Contact Insurance Systems Group for more information.

 

An occupational hazard of any segment of the construction industry is safety. From injuries to fatalities, construction sites can be costly. When accidents occur, work is slowed, fewer workers are available, and overall morale can be compromised. Added to this is insurance and worker’s compensation costs. It can become challenging to keep costs down while keeping employees safe.

New technologies have emerged to help improve onsite safety and ultimately reduce cost. Peter Schermerhorn in his article, New Construction Technology Is An Insurance Game Changer, explains that the use of wearables, sensors, and drones allows site managers to identify potential issues before a problem occurs. This can also improve insurance underwriting and understanding of how a work site operates.

Unlike other industries, advances in technology have not had the same impact on eliminating the workforce. Rather, it has enhanced the employee experience. Being able to identify and avoid potential safety issues provides a security that also impacts morale. Moreover, it can increase employee retention.

Given the choice of staying with a company that is proactive about safety, or moving to a company that hasn’t invested in technology resources, most people would stay where they are. This is especially important in today’s market where the workforce is aging, and bringing in young skilled workers is challenging.

An investment in technology can pay for itself many times over with increased retention, decreased accidents, and greater attendance.

Contact Insurance Systems Group for more information.

 

How often do you think about keeping your business safe in Cyberspace? From malware to ransomware to hacking, security has taken on a whole new meaning. Being connected to the internet provides a door for cyber-criminals to walk right through. Businesses large and small are experiencing costly attacks every day. 

So, what can you do to secure your company? Start by realizing how criminals get in, and then create a plan to bar the door.

There are a couple of paths into any business’s data – email, cellphone, and firewall. When you have your IT company review your systems there are things you can implement to create barriers. Tight restrictions on what can penetrate your firewall is a start. Blocking suspicious emails is another, and having a robust antivirus program is critical.

The truth is that even with all of these systems in place, you can still be vulnerable. Any business with people in it is at risk no matter how tight their controls. Your employees aren’t intentionally putting the company at risk. They just don’t really understand the danger of some of their actions.

One of the most effective deterrents to cybercrime is knowledge. Create a process for consistently communicating with your staff about specific things they should be doing to stay safe. Remind them to check with a sender before opening an attachment. Did they really send it or is it a clever ruse? Educate your staff on common concerns. For example, if they hover over a link inside an email they can see where it really goes. Inform them of the extensions they should avoid. There are people who specialize in cybercrime prevention. Invite them in to have a talk with the staff. The better educated people are, not only of the risks but of what they can do to avoid trouble, the safer your company will be.

It might be helpful to set a google alert for ‘cybersecurity’ or ‘cybercrime’ so you are notified whenever a story is posted. That way you can stay current on what is actually happening in the business world. Sharing this timely information with your team will allow them to work with you on security.

Being proactive is, in itself, a deterrent. Get educated, share the education, and keep talking about the dos and don’ts. This is how you empower your own army against invasion.

Contact Insurance Systems Group for a policy review today.

Risk Management is everyone’s business, and all companies have a variety of risks. From physical location issues to hacked data and even employee conduct, there are a lot of things to monitor. And it doesn’t matter how big or small a business is. Having said that, companies with physical offices or stores have risks that online businesses don’t.

If you have no employees you’ve eliminated one risk area. But, don’t kid yourself. It doesn’t mean your business is in the clear. You most likely have resources to help you achieve your goals. They, too, can put you at risk.

In order to protect your business, it’s helpful to start with a ‘what if’ exercise. First inventory all of your assets. This includes, but is not limited to: technology, people, brick and mortar location, contractors, and vendors.

For each asset, ask yourself what could happen. ‘What if’ someone falls in the parking lot? ‘What if’ our payroll company is hacked and our records are compromised? Get creative with your ‘what if’ scenarios.

When you think you’ve considered all possibilities, pull your staff into the conversation. They may think of things you didn’t. Once you have your list, start creating strategies to diminish those risks. Get everyone involved in the protection process. After all, it should be just as important to them as it is to you. Build awareness, create strategies, and implement consistently. When everyone understands the value of risk management, they will make it their business.

Contact Insurance Systems Group to schedule a time to discuss the risks associated with your business, and to make sure you have the protection you need.