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June 11, 2010
The two "hot" topics in the insurance and risk management industry that we are focused on. The first of course is Health Care reform. Our current activity in our Employee Benefits department is centered on ensuring that our clients understand what the reform regulation means for their employees and their businesses.
Not only is it important to understand the immediate impacts and what program structure alterations that need to be made, but to lay out a plan and strategy for the future with regards to the additional reform changes that will be phased in over time.
We are sending out updates via email to all our contacts.
On the Property / Casualty front, the recent BP Oil spill is a reminder to our clients that being well prepared for worse case scenarios can mean the difference between simply managing through a catastrophic event but actually surviving one.
Many businesses over look the importance of a detailed business disaster recovery plan and focus too much attention on the insurance purchase transaction. Good risk management and preparation is critical for businesses of any size. BP purchased a lot of insurance, but their survival is hinging on their ability to execute a response to the spill and damage to their reputation long term – not how high of limits were purchased from an insurance carrier.