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How to Keep Up With Changing Insurance Regulations

These days, risk managers may find that keeping up with new insurance regulations is a critical part of the job.  Recent changes to state or federal insurance rules have impacted almost all companies. Some recent and notable examples of big regulatory changes that impacted commercial insurance include The Affordable Care Act and new health privacy compliance regulations. There is even talk that the government will further regulate computers and the Internet to attempt to minimize cyber risk. Other changes, like updates to high-risk flood zone maps, could mean that a business suddenly falls under different insurance rules even if the laws have not exactly changed.

Topics: risk management regulatory insights

Various Types of Risks an RMIS Can Help Mitigate

Taking risks may be inherent in doing business in any kind of competitive environment. Because of this, a company's ability to manage risks might make the difference between success and failure. A risk management system, usually called an RMIS, helps prepare management for various threats by making sure that the hazards are already known, mitigated, and planned for. With that in mind, consider various types of business risks and how they can be addressed with RMIS risk mitigation.

Topics: risk management enterprise risk management regulatory insights performance management