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How Will Commercial Property Insurance Policies Respond to Riot, Vandalism, and Civil Commotion?

Riot, civil commotion, and vandalism are commonly covered perils under commercial property policies. Damage to an insured’s building and personal property caused by these perils should be covered. Separate coverage for plate glass is generally also available and policies should be reviewed to confirm. Lost income due to civil unrest caused by “Civil Authority” or actual damage to covered property may be available to offset the financial loss caused by the civil unrest. In response to the recent unrest, the following policy terms should be reviewed: Civil disturbance: Also called “civil unrest,” this is a broad term encompassing any …

https://www.epicbrokers.com/insights/how-will-commercial-property-insurance-policies-respond/

Covering Coronavirus: Risk Considerations Volume 1, Issue 15

… The best sources overall for timely information on the coronavirus pandemic remain the Centers for Disease Control (CDC), the World Health Organization (WHO) and Occupational Safety and Health Administration (OSHA). EPIC continues to compile resources to aid in understanding the impact of the pandemic on employers, their workforces and the management of risk. Supply Chain & Business Risks Mass Transit Challenges Lie Ahead As America tentatively reopens, it is clear that one of the challenges facing a return to pre-pandemic ways of life and work will be transportation. In particular, mass transit faces a tough road to returning to full …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-15/

OSHA Revises Guidance for Recording COVID-19 Cases

National Construction Practice Safety Alert Announced in a May 19 press release, the new enforcement policy overrides an April 10 guidance memo that required only employers in the healthcare industry, emergency response organizations and correctional institutions to make work-related determinations of COVID-19 cases. All other employers were exempt except in cases in which “objective evidence” existed that a COVID-19 infection was work-related or the evidence was “reasonably available” to the employer. The memorandum for regional administrators and state plan designees provides updated interim guidance with respect to the recording of occupational illnesses, specifically cases of COVID …

https://www.epicbrokers.com/insights/osha-revises-guidance-for-recording-covid-19-cases/

Covering Coronavirus: Risk Considerations Volume 1, Issue 14

… The best sources overall for timely information on the coronavirus pandemic remain the Centers for Disease Control (CDC), the World Health Organization (WHO) and Occupational Safety and Health Administration (OSHA). EPIC continues to compile resources to aid in understanding the impact of the pandemic on employers, their workforces and the management of risk. Supply Chain & Business Risks U.S. Borders Open for Truck Traffic The Department of Homeland Security extended its decision to partially close non-essential travel through June 22, 2020. Truck travel, which continues to be deemed essential, is permitted to cross both the northern and southern borders …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-14/

Covering Coronavirus: Risk Considerations Volume 1, Issue 13

… The best sources overall for timely information on the coronavirus pandemic remain the Centers for Disease Control (CDC), the World Health Organization (WHO) and Occupational Safety and Health Administration (OSHA). EPIC continues to compile resources to aid in understanding the impact of the pandemic on employers, their workforces and the management of risk. Insurance Products & Coverage Medical Malpractice Update Entering 2020, the global healthcare insurance industry was under significant pressure to return to profitability. This is in stark contrast to today’s marketplace where underwriters are making calculated decisions about the deployment of available capacity. The increased scrutiny includes a …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-13/

Unrealized Potential: Missed Sales Opportunities & Profit Protection

Maximizing Operating Budgets: Post-Pandemic & Beyond The current global pandemic crisis and its associated economic impact is prompting many companies to reduce costs and explore new ways of doing business. A Gartner, Inc. survey of 317 chief financial officers (CFOs) and other finance leaders revealed that due to COVID-19, 62% of respondents are planning some cuts to selling, general and administrative (SG&A) budgets in their organizations this year. As retailers have temporarily closed locations, reduced growth plans, furloughed employees and considered skipping on rent, operating budgets have also been thrown onto the chopping block. As all aspects of …

https://www.epicbrokers.com/insights/unrealized-potential-missed-sales-opportunities-profit-protection/

Managing Business in a Complex World

… provides easy-to-follow steps for organizations to develop while implementing a robust BCP. These plans should limit exposure, risk and downtime for the organization. The quicker a business can get up and running after a disaster, including supply chains, distribution and manufacturing facilities, stores and corporate offices, the less time and revenue it will risk losing. Let’s take a look at a simple four-step process to building a BCP: Step 1: Risk Assessment Start by conducting a risk assessment and determine the risks and exposures you’re trying to mitigate. A SWOT (strengths, weaknesses, opportunities and threats)

https://www.epicbrokers.com/insights/managing-business-complex-world/

Specialty Retailer Reduces Shrinkage by Millions

… with theft, which often inhibited sales growth. The Strategy We use a holistic approach to organizational loss and data-driven analytics to accomplish our clients’ goals. EPIC ImpactTM Operational Compliance can identify and execute proven strategies to drive shrink results down, providing more profit to the bottom line. EPIC Impact Risk Partners (formerly EPIC Integrated Solutions) proactively and specifically address the root causes of loss through: Risk analysis Operational and safety audits Investigations Training and development Risk assurance Business continuity On-site visits and regional partnerships The Investigation The EPIC team gained a better understanding of the underlying root causes …

https://www.epicbrokers.com/insights/specialty-retailer-reduces-shrinkage-by-millions/