The insurance industry talent crisis has finally come to a head. Despite years of warning and research, many organizations viewed the talent crisis as a long-range concern on the distant horizon. Unfortunately, they are now coming face-to-face with a real war for talent. The insurance industry, in particular, is feeling the impact of the tightening labor market.
A gold medal is arguably one of the greatest rewards athletes can earn in their careers. Many individuals have gone to great lengths to achieve this esteemed prize, embodying the phrase “with great risk comes great reward.” The 2016 Summer Olympics are just a few short weeks away and this year, the reverse “with great reward comes great risk” rings just as true.
Risk is at the forefront of this summer’s games due to Rio de Janeiro’s unnervingly high crime rates and various disease epidemics. The usual risks that accompany any large event are amplified by the current state of the city. In order to combat any potential dangers, insurance has become more important than ever. Preparing for more than 16,000 athletes and approximately 600,000 visitors in addition to the city’s 6.2 million inhabitants has resulted in the most heavily insured games in history. From start to finish, insurance will play an integral part in the overall success of the Olympics.
The post-recession recovery has seen monumental growth within the insurance industry. In fact, according to a recent PropertyCasualty 360 article, the industry has added more than 100,000 new jobs in roughly five years. The industry’s historical vitality is helping to make an insurance career more appealing to job seekers looking for stability in the wake of the recent downturn.
A wildfire that rapidly spreads across state borders, a tornado that cuts across a city leaving broken buildings and homes in its path, an earthquake that topples buildings and injures thousands, or an unexpected hurricane that devastates a coastal area: natural disasters are unforeseen and unpredictable, often leaving a path of devastation and destruction in their wake. If faced with the sudden—and often overwhelming—demand that so often accompanies a disaster situation, is your organization prepared?
Topics: Property and Casualty
The second phase of OCR’s (the U.S. Department of Health and Human Services Office for Civil Rights) HIPAA (Health Insurance Portability and Accountability Act) is beginning. Building on the HITECH (Health Information Technology for Economic and Clinical Health) Act passed in 2009, the audits have expanded and modified many of the original HIPAA requirements for the privacy and security of PHI (protected health information). As part of this update, HITECH required that OCR establish a program to periodically audit for HIPAA privacy, security and breach notification rules.