The Value of a Robust Risk Culture as Times Change
March 03, 2014
Proposed regulatory updates and initiatives coupled with an uncertain economic outlook have added new layers of complexity to our own risk management processes. According to Jacob Rosengarten, XL Group’s Chief Risk Officer, to manage risks associated with these changes, “It takes years to create an effective risk culture. Cultures are ultimately created by routines, practices, processes and a sense of trust that is built around those. We need to always take care that the best of our risk cultures do not degrade, either through arrogance or laziness. There are many unfortunate stories where very smart companies made very silly mistakes caused, in good part, by tears in the cultural fabric of that company. Maintaining effective risk cultures thus requires constant vigilance and nurturing, and a population of colleagues willing to step forward and initiate constructive change when they observe practices that are not working as intended, or any form of degradation in the risk culture.”
When COVID-19 exploded in the US, businesses had no time to plan and protect. Instead, organizations had little choice but to react. Some businesses were shuttered, employees sent home, and if companies were fortunate, they were able to implement remote operations.
In some cases, companies were able
The forecast for the 2020 Atlantic hurricane season: between 13 and 19 named storms, including 3 to 6 major hurricanes, a few of which are expected to reach US shores. If your business is in the path of such a storm, it could wipe out all you’ve worked hard to build.
Yet hurricanes are not the only natural
OSHA guidance for recording COVID-19 cases among your workers
June 25, 2020
How do you deal with an employee who has COVID-19? Traditionally we don’t expect many communicable illnesses to be work-related. As we can all agree, COVID-19 has made reality more complex.
In April OSHA released initial enforcement guidelines for recording cases of COVID-19, which were broad with little