As cyber, natural disasters and other perils pose risks to businesses, they turn to their insurance partners for support and advice.

Risk managers have seen some disruption in recent years. From the pandemic and cyberattacks to natural disasters, talent challenges and the looming recession, risk professionals have a busy schedule.

To get a picture of risk managers’ views of the industry, Risk & Insurance® surveyed 156 risk managers.

They shared insights into their most worrying risks, which lines they are struggling to secure cover for, what they look to their brokers and carriers for, and how technology is helping them manage evolving risks.

Surprisingly, trending issues like inflation remain less of a concern for risk managers (only 9.62% named it a top concern), while issues like real estate and cyber, which have been challenges for years, remain top priorities. Here’s a look at their top three concerns and what they’re doing to manage those risks.

What risks are risk managers most concerned about?

1) Cyber ​​risk: Nearly 30% of risk managers surveyed cited cyber as the most worrying risk facing their organization. In recent years, cyberattacks have increased in frequency and severity, with healthcare, public sector and manufacturing sectors particularly vulnerable.

In addition to concerns about cyber risks, many risk managers surveyed expressed difficulty finding insurance coverage for these risks. Over 30% of risk managers said cyber was the most difficult line of insurance they found economically to retain.

2) Talent Shortage: Skills shortages continue to be an issue for employers, even as more and more companies are announcing layoffs and economists are predicting a recession. In the survey, 26.28% of respondents named the shortage of skilled workers as one of their biggest problems.

Talent gaps can impact workers’ compensation risks, says Donald Noel, ARM-E, CEBS, Risk & Safety Manager, The School District of Palm Beach County. Newer employees have a higher risk of injury at work. If an employee is injured in a company with staff shortages, it can put an additional strain on the organization.

“Safety is a priority for us to prevent the staff we have wasting time through injuries,” Noel said.

And they’re a problem for risk management, too: 36.30% of respondents said they don’t have the people to deliver on their departmental goals.

3) CAT exposures: CAT risks were the third-biggest risk, with 13.46% of respondents citing it as the top concern. Storms such as hurricanes have become more frequent in recent years and have repeatedly caused damage.

Property insurance was the second most difficult coverage to tie, said risk managers who took part in the survey, with 25.34% listing it as their most difficult line of business.

To manage these risks, many risk managers update their properties to include improvements that protect them from severe weather.

“Our district is investing in upgrading our older facilities, including new roofs, waterproofing, and improved mechanical, electrical, and plumbing systems,” Noel said. “These investments help keep our buildings drier and provide a healthy learning environment for our students.”

What do risk managers look for in their freight forwarders and brokers?

In managing these complex risks, risk managers look to their insurance agents and carriers for support.

The survey found that industry knowledge and underwriting expertise are the most important qualities that risk managers look for in their broker or carrier.

Carriers and brokers with in-depth knowledge can help design creative insurance solutions for their clients and offer advice on how to reduce exposure to specific risks.

34.62% of respondents said they value industry knowledge from their agent and 25.64% said they look to their airline for strong underwriting expertise.

After these qualities, risk managers prioritized strong customer service, competitive pricing, and ease of doing business.

Price and ease of doing business are the second most important criteria for quality risk managers in a carrier, with as many as 20.51% of respondents citing both as top priorities. On the agent side, 28.21% of risk managers surveyed said customer service was an important quality to look for in their agent.

How does technology help manage these risks?

Risk managers not only rely on the expertise of carriers and brokers to manage these risks, they are also turning to technology to reduce and manage a variety of hazards.

Nearly 30% of risk managers said they prioritize investments in technology. These tools can range from sensors that help identify potential damage from things like flooding, cybersecurity controls, and AI and predictive analytics systems.

On the cyber side, Noel says he sees organizations using tools like multi-factor authentication to protect themselves from cyber attacks.

As for predictive analytics, 42.47% of respondents said predictive analytics was somewhat helpful in risk management and 12.33% said it was very effective. Over ten percent said they have not experienced any benefits from predictive analytics, and 23.29% said they are not yet using it.

The Palm Beach County School District uses predictive analytics about its TPA to determine which claims need attention from adjusters.

“When predicting severity, we can use more experienced subject matter experts on the original claims of this PA [predictive analytics] determines that this will result in an expensive or legal claim,” he said.

The prioritization of both knowledgeable insurance teams and technology investments shows that risk managers understand they need to take a multi-pronged approach to managing risk in today’s changing world. &

Courtney DuChene is a freelance journalist based in Philadelphia. She can be reached at [email protected]

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SAN FRANCISCO, June 22, 2021 / PRNewswire / – Veritas Investments, based in San Francisco, one of the largest managers of apartment buildings in San Francisco, announced today that it has been voluntarily extended to December 31, 2021 a moratorium on evictions to help residents in financial distress due to the COVID-19 pandemic. State and local moratoriums are currently expiring June 30, 2021.

“Veritas is committed to keeping residents safe and secure during this unprecedented crisis,” said Jeff Jerden, COO of Veritas. “No resident of a Veritas-managed property will be evicted because they owe an additional rent due to COVID-19 if they meet the state’s SB 91 definition of financial hardship. We have heard from our residents and the upcoming The end of the eviction moratorium of the state in connection with the slow release of rent reductions is a big concern for them. Through personal discussions and thorough and repeated contact with our Veritas residents, we have urged everyone to agree apply. ”

Veritas had announced it March 2020 that it is the nation’s first eviction moratorium before legislation is passed by the City of San Francisco which later brought all landlords and property managers under similar management.

With the local and state moratoria that have been introduced since then, which will expire June 30th, Veritas has urged residents to be proactive in applying for rental facilities to which they are entitled, even if local and state officials have recognized that there is no financial facility for the beneficiaries.

As reported by the Associated Press, “California was slow to distribute funds “after he $ 490 million for rent subsidy applications 31. May, only with $ 32 million paid out. Just over 2% of people in California those who applied for a rental discount during the pandemic received it while the state was accumulating $ 5.2 billion federal aid packages to aid those whose economic difficulties related to COVID-19 prevented them from paying rent. “It should be enough to get the job done” Jason Elliott, Senior Advisor to Gov. Gavin Newsomsaid AP. “The move would fulfill a promise to landlords to help them achieve profitability while also providing relief to tenants,” said AP.

Veritas has already provided tens of millions of dollars in rental benefits to residents, worked with and contacted directly those seeking help.

“We will continue to support San Francisco Residents through a variety of programs that Veritas is currently participating in or initiating, including the Open Doors program, which provides free furnished apartments to victims of domestic violence, forest fire survivors, and cancer patients; the Home Bridge program, which helps families find help in a time of crisis, emergency, or unforeseen circumstances through partnerships with Ronald McDonald House Charities and UCSF; and through our partnerships with Project Open Hand, HealthRight 360, Self-Help for the Elderly, and other programs, “added Jerden.

About Veritas Investments

San FranciscoVeritas, based in 2007, founded in 2007, is one of the largest managers of apartment buildings, urban retail and mixed-use properties in California. Veritas oversees assets of more than $ 3.5 billion including more than 7,000 apartments and commercial space. The vertically integrated company offers real estate management, leasing, project management, redevelopment, accounting, asset management, financing and investment management. More information is available at www.veritasinvestments.com.

Links / resources:

https://www.yahoo.com/news/california-pay-off-unpaid-rent-173214035.html

Veritas Investments Announces Voluntary Extension of its Programs to Keep Residents in Their Homes

SOURCE Veritas Investments Inc

similar links

www.veritasinvestments.com

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BOSTON & SAN FRANCISCO – (BUSINESS WIRE) – Natixis Investment Managers (Natixis) announced today that the Philanthropic Partnership Program has expanded to include two charter schools based in Boston and San Francisco. Natixis will partner with the Boston Pacific Academy (APR) and the San Francisco Life Learning Academy (LLA) to develop human resource development, career research, and financial literacy programs that provide elementary and high school students with career opportunities in the financial industry.

The partnerships with the Academy of the Pacific Rim and Life Learning Academy are part of Natixis’ longstanding commitment to support its local communities and its broader efforts to increase diversity in the financial services industry. In addition to Natixis’ financial contributions, Natixis staff organize competency-based volunteer opportunities to provide APR students with financial literacy. Staff will also develop career discovery videos to introduce LLA students to various roles within financial services. Exposing underrepresented students with a focus on racial and ethnic minorities to the wide range of career opportunities in financial services can help expand the diversity of future candidate pools.

“We are excited to partner with the Academy of the Pacific Rim and the Life Learning Academy to have a direct and lasting impact that improves student education and learning environments,” said David Giunta, US CEO, Natixis Investment Managers. “We look forward to supporting schools’ efforts to ensure that all students are given the opportunity to reach their full potential.”

“At the Life Learning Academy we do everything we can to support students who are facing unthinkable difficulties. We are not an ordinary school, and that means we need exceptional partners like Natixis,” said Dr. Teri Delane, Executive Director, Life Learning Academy “Natixis ‘support enables us to meet our students’ needs under one roof, from basic needs like food to job placement to academic opportunities that enable them to have a good life for themselves to accomplish. We are grateful for this well thought-out partnership and I look forward to bringing the Natixis team to campus for lunch as soon as possible – prepared, of course, by students from the Life Learning Academy. ”

“The Academy of the Pacific Rim is grateful and motivated to partner with Natixis,” said Spencer Blasdale, executive director of the Academy of the Pacific Rim. “From the start, our collaboration has focused on our mission to empower students of all races and ethnic backgrounds. Now we can offer our students more opportunities to explore meaningful educational and career opportunities. It is exciting to think about, plan and shape the future of our students with Natixis by our side as a real strategic partner. ”

“Natixis is committed to bringing more people to our industry, and inspiring young students to explore the wide range of rewarding positions in finance is a step in the right direction,” added Giunta. “We see these partnerships as a long-term investment in the future.”

Natixis has a strong culture of giving back to the communities where its employees live and work. The company’s unique philanthropic model offers direct support to its nonprofit partners and offers employees meaningful opportunities to get involved. Since 2012, Natixis has worked with the John Winthrop Elementary School in Massachusetts to provide corporate funding, volunteer events, mentoring, and other programs. Natixis’ collaborative philanthropic model has been adopted by employees and recognized in the community and industry. For nine consecutive years, Natixis employees have been named the Most Generous Employees in Massachusetts in the Boston Business Journal’s annual ranking. Natixis is also a fixture on the Boston Business Journal’s list of Largest Nonprofits in Massachusetts.

About Natixis Investment Manager

Natixis Investment Managers offers financial professionals more insightful ways to build portfolios. Drawing on the know-how of more than 20 specialist investment managers worldwide, we use Active Thinking® to provide proactive solutions that enable clients in all markets to achieve better results. Natixis Investment Managers is one of the world’s largest asset management companies1 with nearly $ 1.4 trillion of assets under management2.

Natixis Investment Managers is headquartered in Paris and Boston and is a subsidiary of Natixis. Natixis is a subsidiary of BPCE, the second largest banking group in France. Investment management companies affiliated with Natixis Investment Managers include AEW; Alliance Entreprendre; AlphaSimplex Group; DNCA Investments; 3 Dorval Asset Management; Flexstone Partner; Gateway investment advisor; H2O Asset Management; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum Asset Management; Seeyond; Seventh Partner; Thematics Asset Management; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; Vega Investment Manager, 4 and WCM Investment Management. In addition, investment solutions are offered through Natixis Investment Managers Solutions, and Natixis Advisors provides additional investment services through its AIA and MPA businesses. Not all offers are available in all countries. For more information, please visit the Natixis Investment Managers website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.

Natixis Investment Managers sales and service groups include Natixis Distribution, LP, a limited-use broker-dealer and distributor of various U.S. registered investment companies, providing advisory services to affiliates of Natixis Investment Managers, Natixis Investment Managers SA (Luxembourg ). , Natixis Investment Managers International (France) and its affiliated sales and service companies in Europe and Asia.

About the Academy of the Pacific Rim Charter School

The Academy of the Pacific Rim (APR) Charter School is a state-approved public charter school in Hyde Park, the southernmost neighborhood of Boston. Our mission is to empower students of all races and ethnic backgrounds to reach their full intellectual and social potential. Our vision is that all students complete the APR with a focused mind, big heart, and ready to thrive in post-secondary education, careers, and civil life.

About the Life Learning Academy

The Life Learning Academy is a public charter high school that believes that every single student, no matter what they’ve done or where they’re from, deserves relentless love, accountability, and the chance to live a good life. The LLA seeks to fill the opportunity gap of the most disinvested youth by equipping students with academic skills, jobs, psychological counseling, social emotional learning, belonging, community, and even free on-campus housing.

1 Cerulli Quantitative Update: Global Markets 2020 ranked Natixis Investment Managers 31st largest asset manager in the world based on assets under management as of December 31, 2019.

2 Assets under management (“AUM”) as of December 31, 2020 were $ 1,389.7 billion. As reported, AUM may include notional assets, serviced assets, gross assets, minority affiliate assets, and other types of non-regulatory AUM managed or serviced by Natixis Investment Managers affiliates.

3 A DNCA Finance brand.

4 A wholly owned subsidiary of Natixis Wealth Management.

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