The Early Specialization of Young Athletes is a Challenge in Today's World
At first, many people are likely to believe that opportunities to link my expertise in insurance brokerage and risk management to my university degree in kinesiology are rare. Nevertheless, my familiarity with the challenges faced by the various athletic federations and associations with whom I collaborate undoubtedly influences the way in which I advise my clients on a daily basis.Read more
Do you know your company’s risk tolerance, does your broker?
As a risk manager, one could take the position that their corporation is “risk adverse”. This approach could lead to complete avoidance, which we know is not very realistic. Risk managers need to understand their corporation’s level of risk tolerance, but this is not something one learns overnight! Your first job as a risk manager is therefore to learn from the inside by educating upper management on why you must be included in the “inner circle”. Once a clear overview of that risk tolerance has been achieved, you will need to learn, understand and monitor the ever changing economic, regulatory and financial environments within their current industry or the new industry management is considering for diversification.Read more
The New Fire: Get a Plan for Water Damage
Water is virtually everywhere on this planet. Enough of it to fill three Olympic swimming pools flows over Niagara Falls every second. The human body processes 2.3 liters of water per day. Per person consumption in Canada reaches roughly 300 liters every day. With all this water moving about, it is little wonder there are so many leaks. And believe me, there are lots of leaks!Read more
Managing the unexpected: Surety Bonds for Executors and Guardians
Much has been written on the topic of the aging demographic, but despite all our efforts to maintain health and prepare financially, the unexpected may occur. One such unpleasant event may be the incompetence of an adult due to injury or disease. In the case of an adult with assets that need to be managed (for preservation of the estate or for caregiving expenses), an application must be made to a legal authority, or otherwise “the Court” will appoint a guardian. While the following recommendations are based on Ontario legal prerequisites, most of other provinces will also require bonds, although they might to a lesser degree. Make sure to verify in your province of issuance whether or not these bonds are required.Read more
Global Insurance Considerations
While your company has a corporate insurance program in place, there may be some countries where this program does not procure local admitted insurance. As a result, your local operations would rely solely on the worldwide ‘non-admitted’ insurance provided by your corporate insurance program. It is important to note that many countries and territories do not permit the use of non-admitted insurance design.Read more
Cyber Risk - Why Every Organization is a Target?
The comment I hear most often when I speak to company leaders about their network security and privacy risk is that they do not believe there is much of a risk. The exceptions of course are organizations in the financial services, healthcare, education and retail; they all seem to completely understand they have a target on their backs. We are now at a time when companies of all sizes and all industries need to admit that they are data companies and, in such cases, are a target. Everyone is a data company today because we all rely on computer to do our jobs.Read more