August 6, 2014 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
According to scientists, Gulf Stream water currents in the Atlantic Ocean have slowed to their weakest level in 1,000 years, threatening shifts in U.S. and European weather, as well as rising coastal sea levels including in New York and Boston. Pennsylvania is considered to be one of the most flood-prone states in the nation, with […]
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Risks Ahead. Property Damage Due to Extreme Weather
April 8, 2016 / by KMRD Partners / Risks Ahead Series / 0 comments
According to the National Oceanic and Atmospheric Administration, 2015 was the second hottest year on record in the 48 states. 10 extreme weather and climate events together accounted for over $10 billion in property damages. 2015 was also the 19th straight year the annual average temperature exceeded the 20th century average. 2016 could be even […]
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Risks Ahead. Disaster Recovery Planning
March 18, 2016 / by KMRD Partners / Risks Ahead Series / 0 comments
These four strategies can help support staff and address human resources concerns in the event of a disaster. Implement disaster preparedness plans that cover all contingencies. Communicate plans to all employees before disaster strikes, while ensuring they are trained to respond quickly and properly. Anticipate both personal and professional impact a disaster will have on […]
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Don’t Forget To Test Your Business Continuity Plan
September 1, 2015 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series, Risk Control / 0 comments
According to a recent survey of over 500 midsize business owners and C-level executives in the US, 59% had a formal, documented business continuity plan and 33% had an informal, verbal plan. 8% had no plan. Of those businesses with continuity plans, only 19% had actually tested them. (source: The Hartford) Additionally, the survey found […]
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Risks Ahead. Did you know?… Catastrophe risk
July 9, 2015 / by KMRD Partners / Risks Ahead Series / 0 comments
“The frequency of catastrophic events appears to be increasing, with a record number of catastrophes last year,” according to Swiss Re’s chief economist. 1. A record 189 natural catastrophes were recorded in 2014. 2. The most costly insured catastrophe loss in 2014 came from lightning and hailstorms in the United States in May, resulting in […]
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Recovery Begins After Disaster Strikes
June 1, 2015 / by KMRD Partners / One Minute From Normal Series / 0 comments
There is no textbook disaster, and yet… Every disaster is different. The gulf oil spill has been different than Katrina, just as the wild fires that recently scorched California’s Riverside County were different than the gulf oil spill. And yet, each successful disaster recovery exhibits many of the same attributes. Effective management Every successful recovery […]
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Could You Lose Your Business Due to a Flood?
August 6, 2014 / by KMRD Partners / Insurance Coverage, One Minute From Normal Series / 0 comments
According to scientists, Gulf Stream water currents in the Atlantic Ocean have slowed to their weakest level in 1,000 years, threatening shifts in U.S. and European weather, as well as rising coastal sea levels including in New York and Boston. Pennsylvania is considered to be one of the most flood-prone states in the nation, with […]
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Are you ready for your company’s cyber doomsday?
April 3, 2014 / by KMRD Partners / One Minute From Normal Series / 0 comments
Last week, an insurance industry executive testifying before the Senate Committee on Commerce, Science & Transportation at a hearing on “Protecting Personal Consumer Information from Cyber Attacks and Data Breaches,” reported that clients purchasing stand-alone cyber insurance increased by more than 20% in the past year. His appearance followed by one day Senator Jay Rockefeller’s […]
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$0 cyber liability coverage for 75% of American businesses
May 30, 2013 / by KMRD Partners / One Minute From Normal Series / 0 comments
According to a recent Towers Watson & Co. study, 75% of American businesses do not have cyber liability coverage. And yet, cyber security concerns affect companies of all sizes: 563,000,000 records have been reported leaked since Privacy Rights Clearinghouse began tracking US data breaches in 2005. The Privacy Rights Clearinghouse database contains information on breaches […]
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Contingency Planning in the event of a financial services network cyber attack
October 11, 2012 / by KMRD Partners / One Minute From Normal Series / 0 comments
Following recent denial of service attacks on computer networks at Bank of America, JP Morgan Chase, Citigroup, U.S. Bank, Wells Fargo and PNC, House of Representatives Intelligence Committee Chairman Mike Rogers warned that emerging cyber threats to U.S. financial networks can be traced to nation states including Iran, China and Russia. According to Committee Chairman […]
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What is the #1 weather-related killer? Weather Risks
July 20, 2011 / by KMRD Partners / One Minute From Normal Series / 0 comments
Weather-related events have been in the news all year. Now here comes the heat. What could become one of the nation’s worst droughts has spread across 14 states from Florida to Arizona. In Texas, alone, losses are expected to exceed $3 billion. In addition to financial losses, there will significant loss of life. According to […]
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