Passing the Buck: How to Successfully Transfer Risk to Third Parties
February 27, 2020 via ConvergeBlog
When claims are made against your company, one of the quickest ways to clear that loss from your company’s books is to transfer the risk to a third party. A good Risk Transfer Plan can not only remove the risk of indemnity, but it can also prevent expensive litigation costs and attorney’s fees. Indeed, a well-planned and firmly executed Risk Transfer Program can change the internal perceptions of the risk management and claims management departments. By taking a few simple steps, your risk management strategies will create reduce the number of pending claims and create a flow of incoming money, rather than being seen solely as a source of outgoing payments.
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Preparing Hotels to Weather Infectious Disease Outbreaks
February 7, 2020 via
Lodging Magazine
While hotels cannot prevent these ripple effects from shifting demand or market conditions, they can protect their guests and employees in the midst of a global outbreak by putting in place business continuity plans and infectious disease protocols.
Insurance Coverage for Losses Stemming from the Coronavirus
February 25, 2020 via ConvergeBlog
Businesses should evaluate whether and how their operations and revenue may be affected by the coronavirus and then closely analyze whether existing insurance policies potentially provide coverage for the losses.
Food Allergies: Risk Prevention and Liability Insurance Protection
February 11, 2020 via Total Food Service
It’s reported that more than one in ten adults in the United States have a food allergy, with roughly 150 associated deaths each year. Just as alarming, a 2019 study by Food
Allergy Research & Education (FARE) revealed that insurance claims associated with diagnoses of anaphylactic food reactions increased a staggering 377% over a ten year period.
