SandRun Risk - Blog

ERM in the Age of Pandemics and Cyber Crime: Part V - Total Engagement Comes Through Building Inclusive Institutions

10/26/2020

We live at a time when humanity is steadily moving away from riskier forms of self-sufficiency to safer and more productive forms of mutual interdependence. Consequently, the future of ERM will be concerned with building “whole of organization” approaches to pursuing opportunities and managing threats. The “secret sauce” to getting buy-in across an organization is creating virtuous cycles that help people feel connected through ever-increasing levels of believing in and trusting each other.

Conversation on Risk Management with Grant Purdy: Part III

10/19/2020

Part I shared some of Grant Purdy’s background and experience from working more than 40 years on practical applications of risk management, including the improvement of decision making. Part II focused on Grant’s new book on decision making that he co-authored with Roger Estall. Part III continues our conversation with Grant about his new book and how best to help “Deciders” make even better decisions.

New York Law and “All Sums” Allocation

10/19/2020

An important principal of New York insurance law is to apply the plain language of the contract as written. See In re Viking Pump, Inc., 27 N.Y.3d 244, 257 (2016). With respect to allocation issues, the Court of Appeals has been clear that New York has not adopted either a strict “pro rata” or “all sums” rule but contracts “should be enforced as written.” Id.

Policy Reconstruction

10/6/2020

Missing insurance policies? No Problem. Standardized form policy language may be used to establish the terms and conditions

Conversation on Risk Management with Grant Purdy: Part II

9/8/2020

Part I shared some of Grant Purdy’s background and experience from working more than 40 years on practical applications of risk management, including the improvement of decision making. Part II focuses on Grant’s new book on decision making that he co-authored with Roger Estall.

The Future of Enterprise Risk Management in the Age of Pandemics and Cyber Crime: Part IV - Total Engagement and the Whole of Organization Concept

9/8/2020

We live in a world that is becoming increasingly intertwined and interdependent which means that complex risks such as pandemics and cyber crime are here to stay. Consequently, the future of ERM will be concerned with building “whole of organization” approaches that meet specific opportunities or challenges with the end goal being the creation of shareable and scalable solutions.

Voluntary Payments Defense – Not a Viable Defense to Defeat Coverage When Insurance Carriers Refuse to Make a Coverage Determination

9/4/2020

What is a policyholder to do when it puts its insurance carriers on notice of a claim, but the insurance carrier does not acknowledge coverage and leaves its policyholder to its own devices to defend and settle the claim, then later claims that the policyholder breached the insurance policy by defending and settling the claim without its consent?

Conversation on Risk Management with Grant Purdy: Part I

9/1/2020

Grant Purdy joins us for a three-part interview. Part I focuses on Grant’s background and experience from working more than 40 years on practical applications of risk management, including the improvement of decision making.

ERM in the Age of Pandemics and Cyber Crime: Part III - Leaders Need to Be Held Accountable

8/27/2020

Black swans - unlikely, unpredictable, and catastrophic events - justify investment in ERM but there is even greater justification with the arrival of black elephants - looming disasters that are visible but no one wants to address or deal with them.

The State of Enterprise Risk Management in the USA: Part III - Integrating ERM and Human Resources

7/30/2020

Phil Renaud concludes this article series with a discussion of the need to build a better bridge between the HR function and risk management.