Understanding the Cost of Recovery: Lessons from a Category 4 Hurricane

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Meet the Expert

Understanding the Cost of Recovery: Lessons from a Category 4 Hurricane

The damages from Hurricane Ian remind us all too well of the potential costs associated with a major Category 4 Hurricane. How can you predict the cost of recovery and why does it seem to cost more than estimated property values?

Commercially speaking, estimating the cost of a future build can be quite different from calculating the cost of recovering a building given conditions may be worse and extremely difficult to manage. Recovery expert and veteran, Jim Wills, explains that circumstances in a recovery operation generally are met with obstacles beyond our control.

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In the Know...

RIMS “State of Risk” Report

Nearly 300 C-level risk, safety, compliance, and insurance professionals from more than 20 industries were surveyed for this report. Respondents confirmed a clear takeaway that emerged from the results of this year’s survey — risk programs are under increasing pressure to evolve. The report highlights how self-identified “Leaders” are much better able to integrate risk-related functions into a unified approach while “Laggards” are struggling with silos, fewer resources, and a lack of prioritization of risk programs within the enterprise. The report provides an analysis of the impact that increasingly complex, interconnected risks are having on functions across organizations. The report contains practical discussions on: Rethinking the insurance process in a highly dynamic risk environment; Ways “Laggards” can rejoin “Leaders” even with a lack of institutional support; How to unlock the hidden power in “pre-analyzed data.” You will learn must-read insights for risk and safety professionals and find needed context around a highly volatile year.

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Disaster at Sea: Greek authorities draw criticism for being slow to respond to a sinking trawler carrying migrants

Hundreds remain missing, with non-governmental organizations saying they received multiple calls for help.

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Trouble Site: A new study shows that in-office workers are a greater threat to cybersecurity

Those working remotely often display higher levels of cybersecurity vigilance.

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How to Talk About It: Language used about disasters can reduce the incentive for action

By describing things as “the new normal”, it creates the impression things can’t be changes.

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Accidental Calls: A default setting on Android phones is filling up emergency lines with accidental calls

The features is triggered when a power button is pressed five times.

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Automotive Security: With cars being increasingly connected to the Internet, manufacturers are having to up their cyberdefenses

Vulnerabilities exist not only within the vehicles but within charging networks.

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Shared Efforts: Canada’s Emergency Preparedness Minister is looking to improve disaster coordination efforts with the United States

Efforts are already underway to align firefighting coordination organizations across borders.

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Industry Pulse

Did You Know…… Are text messages secure? No, and here is why

Are text messages secure? Nowadays, it is one of the least safe ways to communicate on mobile phones. Standard messaging relies on older technology that does not focus on security and privacy. One of the problems is that mobile service providers can read every message sent. Furthermore, standard SMS is more vulnerable to hackers Intercepting the messages you send.

  • Dig deeper into this article and you will learn: 5 Reasons SMS text messages are unsafe
  • How to secure text messages on Android or iPhone
  • 4 Secure alternatives to SMS messages
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The 21st Edition Global BCM Compensation Report has Published!

The 21st Edition Global BCM Compensation Report highlights how different factors may impact a professional’s earning potential in the Business Continuity profession and related disciplines (Resilience Management). The annual study assesses not only years of experience, job titles, degrees, and certifications but also real-world experience and leadership skills.

This complimentary report details key findings and trends for both permanently employed professionals as well as contract/temporary/self-employed consultants within the Resilience Management profession on a global basis. Several trends and insights are highlighted throughout the report, all of which indicate a continued demand and stability for the Resilience Management field, which has prompted an increase in compensation.

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