News Items
Key Elements of Effective Crisis Response
Whether from technical failures, natural disasters, civil unrest or many other causes, crises can strike at any time with little warning. To minimize disruptions and maintain organizational resilience when the worst happens, it is crucial to prepare ahead of time by developing robust and thoroughly rehearsed crisis management plans. Proper training, clear communication protocols, people accounting procedures, and nimble utilization of remote work and alternate sites will enable organizations to rapidly adapt and respond when faced with sudden threats of any type.
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The Business Case for ESG Risk Assessment
Risk and business continuity professionals undertake a serious responsibility ensuring businesses stay up and running in the event of innumerable internal and external disasters that could disrupt operations. To fulfill their responsibility to stakeholders, shareholders and customers, these professionals must carefully and comprehensively evaluate the full range of risks facing their businesses. To date, business continuity planning has codified approaches to navigating all kinds of disruptions, from product failures to supply chain breakdowns to economic volatility. But the risk environment is ever changing, and business continuity professionals should increase focus on environmental, social and governance (ESG) risks.
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Five Questions Every Risk Manager Should Ask Before Obtaining a Surety Bond
It is a request many risk professionals dread hearing: "We need a surety bond." Insurance professionals on the receiving end of this request know the drill: The client is entering into a business arrangement and the negotiations are winding down. Everything is coming together until the end when it comes to the agent's attention that a surety bond is needed to complete the deal and they are unsure how to proceed.
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New NAAIA Report Focuses on Next Steps for DEI in the Insurance Industry
As Black History Month kicks off, February presents a great opportunity to not only celebrate the history and accomplishments of African Americans, but also to meaningfully assess and advance diversity, equity and inclusion measures with the goal of ensuring lasting change rather than lip service. To that end, the National African American Insurance Association (NAAIA) recently updated its research on its members’ experiences and challenges in the insurance industry, releasing the new study The Next Steps on the Journey: Has Anything Changed? The new research updates NAAIA’s 2018 report The Journey of African American Insurance Professionals, evaluating what progress has or has not been made over the past five years, particularly given the increasing focus on DEI programs and, specifically, many companies’ discussions of DEI efforts after the murder of George Floyd brought the Black Lives Matter movement to the fore.
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Whether from technical failures, natural disasters, civil unrest or many other causes, crises can strike at any time with little warning. To minimize disruptions and maintain organizational resilience when the worst happens, it is crucial to prepare ahead of time by developing robust and thoroughly rehearsed crisis management plans. Proper training, clear communication protocols, people accounting procedures, and nimble utilization of remote work and alternate sites will enable organizations to rapidly adapt and respond when faced with sudden threats of any type.
read more >>
The Business Case for ESG Risk Assessment
Risk and business continuity professionals undertake a serious responsibility ensuring businesses stay up and running in the event of innumerable internal and external disasters that could disrupt operations. To fulfill their responsibility to stakeholders, shareholders and customers, these professionals must carefully and comprehensively evaluate the full range of risks facing their businesses. To date, business continuity planning has codified approaches to navigating all kinds of disruptions, from product failures to supply chain breakdowns to economic volatility. But the risk environment is ever changing, and business continuity professionals should increase focus on environmental, social and governance (ESG) risks.
read more >>
Five Questions Every Risk Manager Should Ask Before Obtaining a Surety Bond
It is a request many risk professionals dread hearing: "We need a surety bond." Insurance professionals on the receiving end of this request know the drill: The client is entering into a business arrangement and the negotiations are winding down. Everything is coming together until the end when it comes to the agent's attention that a surety bond is needed to complete the deal and they are unsure how to proceed.
read more >>
New NAAIA Report Focuses on Next Steps for DEI in the Insurance Industry
As Black History Month kicks off, February presents a great opportunity to not only celebrate the history and accomplishments of African Americans, but also to meaningfully assess and advance diversity, equity and inclusion measures with the goal of ensuring lasting change rather than lip service. To that end, the National African American Insurance Association (NAAIA) recently updated its research on its members’ experiences and challenges in the insurance industry, releasing the new study The Next Steps on the Journey: Has Anything Changed? The new research updates NAAIA’s 2018 report The Journey of African American Insurance Professionals, evaluating what progress has or has not been made over the past five years, particularly given the increasing focus on DEI programs and, specifically, many companies’ discussions of DEI efforts after the murder of George Floyd brought the Black Lives Matter movement to the fore.
read more >>
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'End of Summer Mixer' - August 17th, 2023President's Message
Scott Ritto
President
Hello everyone. I hope you have all had an incredible start to 2023. I have been remis in getting a new message out and on the website, so I apologize for that, but the insurance market is keeping me busy with renewals and fighting to stay in the right frame of mind in relation to those renewals. I hope that everyone is working their way through the market and achieving the best results possible. I am looking forward to continuing to serve as the LA RIMS in 2023, and we are looking to have some very exciting events this year. 2022 was a wonderful year with some highlights being the End of Summer Mixer at SoFi and the Western Regional Conference being held in Long Beach. With Covid-19 normalizing as much as possible, we look to be able to hold more in-person events in 2023, and look forward to interacting with everyone as much as possible.
We are also planning to have an in-person luncheon next month in March. This luncheon will be held at Brookside Golf Course, as many of you are familiar with, and will focus on risks associated with logistics. We will send out our regular email blast soon, and be sure to post this event on the website. As we move into April, we are focused on holding a Risk Manger Roundtable at an exciting venue if we can get it worked out, and then we will find ourselves excited to attend RISKWORLD in Atlanta as April comes to a close and May begins. June will bring our annual golf tournament, so be sure to put that on your calendar and be ready to register when registration opens, as we always sellout and you do not want to miss the opportunity to experience this awesome event. We continue to maintain great support for all of our events and luncheons throughout the year, and it is what has allowed the LA Chapter to grow and operate as one of the premier chapters for the RIMS Society. Our Platinum Sponsorship program has really turned into an incredible support mechanism for the chapter, and we sincerely thank the organizations that have been able to partner with us at that level. We want to also thank all of the organizations that have been able to sponsor various events, as it allows us to focus on continually delivering wonderful events and content to our members. We are very excited to have some new energy infused into the Rising Risk Professionals (RRP) program, and see that attendance is going to be significant at the February 23rd event.
Please continue to monitor the website, look for email blasts, or contact any member of the Board to stay connected to what is going on and upcoming events. I am grateful to be able to lead such a great group of Board Members and a wonderful Chapter. Please make it a point to be a part of our successes in 2023 and beyond. I look forward to seeing everyone at our events this year, and please continue to stay safe and healthy.
Best Regards,
Scott Ritto
Upcoming Events:
April 20th, 2024
Beach Clean Up
April 24th, 2024
The Modern Risk Manager and the Power of Analytics
June 5th, 2024
LA RIMS Golf Tournament
July 17th, 2024
Risk Manager Roundtable Discussion
July 20th, 2024
LA RIMS Hike
August 21st, 2024
Summer Mixer
View Calendar >>
April 20th, 2024
Beach Clean Up
April 24th, 2024
The Modern Risk Manager and the Power of Analytics
June 5th, 2024
LA RIMS Golf Tournament
July 17th, 2024
Risk Manager Roundtable Discussion
July 20th, 2024
LA RIMS Hike
August 21st, 2024
Summer Mixer
View Calendar >>
LA RIMS Thank Our Sponsors