data breach

Spotting Risks as Part Manufacturing Process

risk management
June 26, 2015

Put your supply chain to the test.

[notice]
Supply chains are becoming increasingly complex, with dependencies upstream, in-plant and downstream. Which links in your supply chain might be most at risk? And what can be done to help manage it? Take our four-part questionnaire to help you uncover and avert potential risks in your supply chain before they emerge. Estimated completion time: 5 minutes.[/notice]

Supply chains are increasingly complex with dependencies upstream, in plant and downstream. Have you put your supply chain to the test? Not only will this brief mobile enabled test assist you in identifying opportunities within your supply chain, but the last page of the test will also provide educational resources and insights on how you compare to your industry and region.

Controlling threats that can impact the flow of quality, compliant and competitively priced raw materials is a critical link in your supply chain. Upstream disruptions often flow downstream. One delay, shortage, or defect in the materials you rely on could affect your ability to produce goods in the quantities and time-frames consumers demand. One could even compromise the safety and quality of your products. Failure to meet orders, product recalls, liability claims, and other potential ripple effects of supply disruptions can put your company’s reputation — and bottom line — at risk.

Control Your Supply Sources

Purchasing and vendor control are critical parts of the manufacturing process. Knowing who your suppliers are and where they come from is key to managing supply chain risk – particularly if they come from outside of the United States. Companies often change vendors frequently to get the lowest prices on raw materials. But establishing longer-term relationships with your suppliers can be an advantage. A supplier who understands your business might better anticipate your needs and be more willing to work with you to control costs or resolve issues when they arise.

Choose your suppliers carefully:Read More »Spotting Risks as Part Manufacturing Process

Risks Related to Bring Your Own Device (BYOD)

Data Breach, Data Breach Coverage, E&O, Professional Liability / E&O
January 30, 2015

At one time, people scoffed at the idea of a personal computer in every home. Today, we not only have high-speed Internet available in our homes, but we also connect to the Internet at will with a variety of mobile devices from wherever we happen to be.

The most complete and effective defense against the risks of BYOD is to ban employees’ use of personal devices for work-related activities. However, abstinence can be a tough sell to employees, and non-compliance can be difficult to control. The smarter approach is to put a strong policy in place, educate employees about best practices and take actions that will manage the risk as much as possible.

With BYOD becoming widespread, it is important for businesses to be proactive about personal device risk management. Our hope is that this blog post will help companies chart a path for creating the most effective corporate policies and protections.

Why BYOD is a problem:

[one_fifth][note title=”31 PERCENT” align=”center”]connect to their company’s network from unsecured free or public wi-fi.[/note] [/one_fifth]

[one_fifth][note title=”46 PERCENT” align=”center”]share their personal devices with others, opening the door to unintended access to corporate data.[/note] [/one_fifth]

[one_fifth][note title=”33 PERCENT” align=”center”]say the company data they use and store is not encrypted.[/note] [/one_fifth]

[one_fifth][note title=”25 PERCENT” align=”center”]have been a victim of hacking or malware on their personal devices.[/note] [/one_fifth]

[one_fifth_last][note title=”Statistics” align=”center”]like these are frightening for security-conscious corporate IT teams.[/note] [/one_fifth_last]

Top 10 Corporate Risks in 2014

Cyber Liability, Data Breach, Data Breach Coverage, risk management
January 21, 2014

corporate risks Business interruption (BI) and supply chain, natural catastrophes and fire/explosion top the list of company risks in 2014, according to the 3rd Annual Allianz Risk Barometer, which surveyed over 400 corporate insurance experts from 33 countries.

The survey highlights the increasing complexity of business risks, including a combination of new technological, economic and regulatory related risks, potentially creating a systemic threat for businesses and suggests that companies can respond to these growing challenges through stronger internal controls, combined with a holistic approach to risk management.