New Year's Risk Management Resolutions

The New Year is a time of reflection and resolutions. As 2019 unfolds, here are five areas that your organization can focus on to start the year off right.

1. Stay Safe: According to OSHA, an established safety culture can reduce your injury and illness costs by 20 to 40 percent. Here are strategies on how to develop a culture of safety within your organization.

  • OSHA’s Top 10 Most Cited Violations of 2018 : The list serves as a reminder to encourage organizations to reassess their safety procedures and address hazards.

  • Winter Weather Preparation: With the winter months upon us, it’s imperative to be prepared for winter storms. Become familiar with winter storm warning signals and learn the dangers of winter ailments to avoid potential injury.

2. Importance of Prompt Claims Reporting: One of the most important steps you can take to effectively manage your claims is to notify the insurance carrier promptly. Of course, when an event occurs, it is essential to ensure that injured parties receive the proper medical treatment, damages are mitigated, and the scene is preserved. After that, it is also critically important to respond with timely claim reporting.

Here are some important reminders to start the year off right:

  • You must report the loss to the insurance carrier to potentially trigger insurance coverage

  • Every policy states exactly how and when you need to report a claim

  • Reports can typically be done through your Conner Strong & Buckelew Claim’s Team or direct to the carrier (via website, phone, fax or email)

  • For most lines of coverage, Conner Strong & Buckelew recommends reporting through your Claims Team to ensure all implicated policies are noticed

Failure to comply with reporting obligations outlined in the policy may jeopardize insurance coverage. Also, costs incurred before you report a claim may not be reimbursed by the insurance carrier. If you have questions on how or when to report a claim, please reach out to your Claim Consultant or call our 24/7 Emergency Claim Hotline at (877) 861-3220.

3. Cyber Risks: News relating to cybersecurity was one of the biggest headlines in 2018, and it’s unlikely that it will change anytime soon. Data breach preparedness is at an all-time high. However, cybercriminals are increasingly becoming more sophisticated. Talk to your Conner Strong & Buckelew team to make sure your organization is adequately covered and learn about the top cyber predictions for 2019 to stay ahead of new threats.

Now is also an excellent time to remind your team about the phishing scams that may accompany tax season. The IRS recently issued a news release, reminding taxpayers to be vigilant and “not to take the bait.”

4. Training: Do you or your team need a refresher on insurance basics? Here is a list of common insurance terms. Reach out to your Account Executive or Claim Consultant teams to schedule a one-on-one training. Popular topics include Insurance 101, understanding certificates of insurance, the basics of contract review and how to manage a claim without jeopardizing coverage.

Check out our entire list of available training here.

5. Update Your Employee Handbook: This article highlights five evolving areas employers can focus on to start the year off on the right foot.

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