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Third Party Vendor Risk Management is One of the Biggest Challenges Accounting Firms Face

… one accounting firm, a cyber criminal can gain access to information on hundreds or thousands of companies and individuals. But, direct attacks on accounting firm systems are not the only way a cyber criminal can succeed. Indirect attacks can be just as powerful and often times easier! Third party vendor risk management is one of the biggest challenges accounting firms, of all sizes, face today. Given the current privacy regulatory environment, the possibility of a data breach presents significant financial and reputational risks. As digital connections between accounting firms and vendors continue to increase, the risk of a breach via …

https://www.epicbrokers.com/insights/third-party-vendor-risk-management-is-one-of-the-biggest-challenges-accounting-firms-face/

EPIC Alert: Self-Funded Plan Risk Management - October 2019

… gene therapies continue to enter the market, EPIC would like to proactively recommend risk strategies to manage these potential expenses before it affects the overall business model. EPIC suggests proactively managing this risk using the following tools: Partnering with a Pharmacy Benefit Manager that includes appropriate prior authorizations and case management capability. Steering medications through the Pharmacy Benefit Manager rather than a medical facility. EPIC negotiates the best in market stop loss contracts for our clients. We strongly encourage investing in additional protection through your stop loss provider to mitigate plan risk. This is the only “true” insurance you have …

https://www.epicbrokers.com/insights/epic-alert-self-funded-plan-risk-management-october-2019/

Risk Management

… EPIC has both the means and the methods to reduce premiums, improve coverage terms, streamline the administration of your programs, and reduce your total cost of risk. Exposure assessment and analysis of current programs and strategies Risk control consulting Claims management and loss mitigation Executive liability analysis and corporate governance risk control Captive and self-insurance analysis Mergers and acquisition analysis Workers’ compensation cost control and disability management Industry surveys and benchmarking data Risk retention and risk purchasing groups Alternative risk transfer (finite risk, loss portfolio transfer) Credit risk assessment and management Client “Risk Management Center” Risk Management Products Analytics …

https://www.epicbrokers.com/products/risk-management/

GenAI Adoption and Risk Oversight

… just two years. The speed of the changes in GenAI-based technology coupled with the rush to adopt it is creating tension in existing legal, economic and societal frameworks. GenAI adoption is challenging. Organizations must balance the desire for innovation and competitive advantage with the need for robust, specialized oversight of a complex and rapidly evolving and uncertain risk environment. Prior to adopting any AI or GenAI tool or implementing an initiative, organizations should establish an AI Governance Program. An AI Governance Program is simply a framework of rules, policies, practices that will guide the organization or firm in the

https://www.epicbrokers.com/insights/genai-adoption-and-risk-oversight/

EPIC Welcomes Bill Mason

Strengthening EPIC’s Construction and Manufacturing Risk Solutions EPIC is excited to announce that Bill Mason has joined the firm as Principal within our Property & Casualty team in Texas. With more than two decades of experience in the commercial insurance industry, Bill serves as a trusted risk advisor to businesses across the construction and manufacturing sectors. His commitment to client success is evident in his strategic guidance, responsive service, and consistent delivery of measurable value through innovative problem-solving and a steadfast focus on protecting business interests. “We’re thrilled to welcome Bill to our Texas team,” said JoBeth Wells …

https://www.epicbrokers.com/insights/epic-welcomes-bill-mason/

EPIC Welcomes Theana L. Iordanou

Theana L. Iordanou Joins EPIC as Principal, Northeast Region EPIC is excited to announce that Theana Iordanou has joined the firm as Principal in the Northeast Region. Theana is a highly accomplished insurance professional with extensive experience spanning underwriting, brokerage, and executive leadership. As an entrepreneur and solution-builder for both personal and commercial clients, Theana established her own agency, T-Risk Solutions, LLC, based on Long Island. She capitalized on her extensive background in Management Liability and underwriting to build an advisory and brokerage business to help her clients thrive. Theana will leverage her more than 30 years of …

https://www.epicbrokers.com/insights/epic-welcomes-theana-iordanou/

Unlocking Client Value Through Industry Specialization: EPIC’s Strategic Advantage

In today’s complex risk landscape, insurance is no longer just about placing coverage, it’s about working with clients to make material changes in the way they understand and take on risk. At EPIC, industry specialization is the foundation of how we drive meaningful value for our clients. Gregg Bundschuh, EPIC’s Chief Growth Officer, joined Mark Geoghegan on The Voice of Insurance podcast to share insights on his career journey, the evolution of specialty brokerage, and EPIC’s national growth story. From Construction Law to Insurance Specialization Bundschuh didn’t begin his career in insurance. He started as …

https://www.epicbrokers.com/insights/unlocking-client-value-through-industry-specialization/

Navigating the Risk: Understanding the Insurability of Indemnification Obligations

… involving legal and insurance professionals in contract negotiations to ensure indemnification provisions are both reasonable and insurable. Whether you’re a risk manager, legal counsel, or executive at a professional services firm, this article offers essential insights to help you protect your organization from unintended liability. Download the full article today to learn how to make indemnification obligations a manageable part of your risk strategy. DOWNLOADABLE RESOURCES Learn more about protecting your firm from unexpected risk. The Insurability of Indemnification Obligations: Strategies to Limit Uninsured Liability, a white paper by Kelly Geary, National Practice Leader. Strategies to Limit Uninsured Liability

https://www.epicbrokers.com/insights/navigating-risk-understanding-insurability-indemnification-obligations/