SEARCH

Showing 586 results found

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/

AI Transcription and Risk Mitigation

… learning models. However, according to the complaint, Otter does not provide adequate notice or seek the required consent from all the meeting participants before intercepting and using audio recordings or conversation transcriptions to train its ASR and machine learning models. Instead, Otter places the burden on Otter accountholders to ensure all the necessary permissions and consents are obtained, thereby attempting to get the benefit of the user data while avoiding any risk or responsibility. This consolidated class action lawsuit not only highlights many confidentiality and privacy issues implicated by this technology, but also the emerging liability exposures to vendors like

https://www.epicbrokers.com/insights/ai-transcription-and-risk-mitigation/

Behind the Scenes of Fraud Defense: How Accounting Firms Can Reduce Risk and Avoid Lawsuits

… What It’s Like to Work on The Jaw-Dropping Cases Featured on American Greed? Natalia Greene, Esq., CFE, Principal at Lemme, a division of EPIC, has spent over two decades defending accounting firms in professional liability claims involving fraud and embezzlement. Today, in her role as a Claims Advocate & Risk Management professional, she shared her experience and lessons learned on The Diary of a CFO Podcast. The Real Risk Isn’t Fraud—It’s Client Selection Fraud doesn’t start in spreadsheets, it starts with client acceptance and continuance, and ignoring red flags. Natalia emphasized that annual client risk …

https://www.epicbrokers.com/insights/behind-the-scenes-of-fraud-defense/

Strategic Partnerships: The Future of Wildfire Protection

… unpredictability of today’s wildfire environment. Strategic Partnerships as the Solution Forward‑thinking insurers are closing this gap by forging partnerships with risk assessment firms, brokers, and technology providers. These collaborations represent a fundamental shift from reactive coverage to proactive protection, combining science, technology, and specialized expertise to create comprehensive wildfire programs. Science‑based innovation: Proprietary fire physics models and vulnerability analyses move beyond probability estimates to determine ignition likelihood and guide prevention. Comprehensive risk management: Clients evaluate the Total Cost of Risk (TCOR), including storage, evacuation logistics, and related costs. Incentivized mitigation: Premium discounts reward proactive steps like fire

https://www.epicbrokers.com/insights/strategic-partnerships-the-future-of-wildfire-protection/

Policies and Procedures to Prevent Social Engineering Fraud

Strengthen Your Organization Against Deceptive Threats Social engineering fraud poses a significant and growing threat to organizations of all sizes. Unlike traditional cyberattacks that exploit technical vulnerabilities, social engineering targets human behavior—manipulating individuals into divulging confidential information, granting unauthorized access, or initiating fraudulent transactions. These attacks can be highly sophisticated, often impersonating trusted colleagues, vendors, or executives to bypass standard security protocols. To effectively mitigate this risk, companies must adopt a proactive and layered approach that combines employee education, robust internal controls, and vigilant monitoring. Download the document below to access the essential policies and procedures your organization should …

https://www.epicbrokers.com/insights/policies-and-procedures-to-prevent-social-engineering-fraud/

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/