Search results for: “Risk”

  • The High Cost of Workplace Complacency in Risk Management: Why Organizations Can’t Afford to Ignore It

    Beyond the direct and indirect financial losses, complacency exacts a heavy toll on the human element—leading to more injuries, lower morale, and even loss of life—and erodes the safety culture that underpins sustainable operational success. As businesses navigate demanding production schedules and challenges in hiring and retaining good employees, complacency remains a hidden but costly…

  • Single-Parent Captives: A Strategic Risk-Financing Tool for Construction Leadership

    A single-parent captive offers construction leadership a strategic alternative. For large construction firms, insurance is not just a line item. It is a material operating expense and a source of earnings volatility. As premiums fluctuate with insurance market cycles, carrier appetite, and industry-wide losses, even the safest contractors with a strong risk management culture can…

  • Protecting Your Commercial Kitchen from Fires: A Critical Risk Management Issue

    In the dynamic environment of commercial kitchens, safety is paramount, not only for protecting personnel and property but also for ensuring operational continuity. Among several potential hazards, kitchen fires pose a significant risk, often resulting in devastating consequences if not properly managed. As risk managers and industry leaders, understanding the nuances of fire prevention and…

  • Navigating Pollution Liability Exposures: Strategies for Effective Risk Management

    Pollution incidents—chlorine leaks at hotel pools, dust from construction sites, chemical releases in manufacturing, etc.—pose significant safety and liability challenges across many industries, including hospitality, construction, manufacturing, healthcare, transportation, and agriculture. The scenarios above highlight the critical need for organizations of all sizes and across all sectors to integrate pollution risk management into their safety…

  • Client Advisory: SEC Issues Disclosure Rule for Climate-Related Risks

    The McGriff Executive Risk Advisors team has observed a steady uptick in regulatory activity aimed at publicly traded companies (and certain privately held companies) over the last several years. One example was addressed in a previous McGriff client advisory related to a Securities and Exchange Commission (SEC) claw back rule. There was also the overreach by…

  • Top 3 Fraud Risks for High-Net-Worth Families

    Did you know that the higher your net worth, the more likely you are to become a target of fraud, scams, and cyberattacks? Fraudsters tend to pay closer attention to high-net-worth individuals since the payoff can be much larger than other targets.   In this day and age, the tactics criminals use to gain control…

  • 10 Ways to Mitigate Risks with Horses

    Whether you have one horse or several, horse ownership comes with a unique set of risks—both at home and beyond. Following these tips can help you keep those risks at bay. 1. Keep fencing secure. Horses are prone to wander, or even run when spooked, so regularly inspect your perimeter to make sure it’s intact…

  • Rise of the Robots: Benefits, Challenges, Risks, and Mitigation of Industrial Robots

    There have been multiple generations of industrial robots, beginning in the 1950s with Unimaton, the first company to exist specifically to manufacture such robots. The initial robots were called “Unimates.” These robots could perform a single task, such as removing die-cast parts in the automotive industry. Today, we have industrial robots, collaborative or “co-bots,” and…

  • Use of Shared Risk and Negotiated Risk Agreements in Senior Living

    Summary Balancing resident independence with safety is a key concern in senior living communities. Shared and negotiated risk agreements have emerged as valuable tools to empower residents to make informed choices about their independence while ensuring appropriate safety measures are in place. However, the effectiveness of these agreements depends not only on their initial implementation…

  • Taking More Risk: How Growing Companies Optimize Insurance Costs

    Summary As businesses grow, their needs for and opportunities with commercial insurance purchases change. Often the growth leads a firm to take more risk over time. As with other forms of capital, insurance capital affects both risk and reward: there may be an opportunity for cost savings, but that opportunity comes with greater risk. This…