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All in a day’s work: 2020 Claims salary survey results

riskacademy — Thu, 03 Dec 2020 07:01:59 +0000

Approximately 68% of the survey respondents said they were likely to recommend the claims profession to other people. (Photo: Number1411/Shutterstock)

For the past 20 years, Claims Magazine has been tracking the salaries of claims professionals, the benefits they receive, how their jobs have changed, and what they see in the future for the industry. This year, the experts within ALM Intelligence, a division of Claims’ parent company, ALM Media, LLC, conducted the survey.

Multiple Claims surveys over the last several years have indicated that a significant number of claims professionals (almost 30%) will leave the industry due to retirement. Recent figures from the U.S. Bureau of Labor Statistics confirm this finding to some extent. In 2019, there were 332,900 claims adjusters, examiners and investigators. The Bureau predicts that the industry will see a 6% drop in employment from 2020-2029 or a loss of 21,400 jobs over the decade. Auto insurance appraisers held 15,900 jobs in 2019, and the Bureau expects to see a 4% drop job in employment over the next 10 years or a loss of about 600 jobs.

While we asked the traditional questions about the number of hours worked per…

Pandemics & privacy: Managing employee data risks during COVID-19

riskacademy — Tue, 24 Nov 2020 12:10:39 +0000

Something as simple as asking employees to reveal their temperature or current health status could be a privacy exposure for companies during the COVID-19 pandemic. (Photo: Shutterstock)

Editor’s Note: PropertyCasualty360 is committed to providing our readers with the latest insurance news and information. To that end, we are now publishing select stories in both English and Spanish. To read this article in Spanish, please click here.

As businesses in all 50 states reopen, they are facing another challenge: how to reopen safely. What safely reopening entails will vary from business to business. As the COVID-19 pandemic continues to be a significant concern, employers are looking for ways to keep up operations while keeping employees safe.

Fortunately, guidelines do exist to help with at least part of those safety measures. The Centers for Disease Control and Prevention (CDC) provides businesses with industry-specific guidelines for various industries, as has the American Industrial Hygiene Association (AIHA). Such guidelines help companies further maintain compliance with the Occupational Safety and Health Administration’s (OSHA) personal protective equipment…

FPA Launches Cybersecurity Certificate Program for Financial Planners

riskacademy — Sat, 14 Nov 2020 16:13:28 +0000

(Credit: Shutterstock)

The Financial Planning Association rolled out a cybersecurity certificate program on Thursday to help financial planners protect their data and comply with requirements established by the Security and Exchange Commission and Financial Industry Regulatory Authority.

The program comes at a time when security incidents afflict financial services firms 300 times more often than other businesses, the FPA said, citing research by ID Theft Resource Center.

Related: Smarsh Buys AI Firm to Help RIAs, BDs Spot Risks

The FPA developed the certificate program in partnership with FCI, a financial services cybersecurity authority and participant in FINRA’s Preferred Pricing Program.

The FPA program, which includes six focus areas, guides financial planners through a step-by-step process to establish a customized, long-term cybersecurity plan that ensures they are adopting reliable security measures that safeguard client data.

It also provides a record of their firm’s cybersecurity practices if audited by regulators.

“A tremendous amount of data and assets are at stake, and financial planning professionals are a prime target for cyber thieves,” 2020 FPA…

DHS funds risk assessment modeling tool development

riskacademy — Mon, 05 Oct 2020 02:00:19 +0000

The Department of Homeland Security’s (DHS) Small Business Innovation Research (SBIR) Program has awarded $1.96 million to a pair of businesses to aid emergency communication network risk management assessments.

Orem, Utah-based Achilles Heel Technologies and SecureLogix, of San Antonio, Texas, were selected to participate in Phase II of the program based on demonstration of feasibility in Phase I for Network Modeling for Risk Assessment technology solutions.

During Phase II, each company is slated to continue its research and development efforts. Achilles Heel Technologies would further develop a software tool suite for holistic cyber risk management of Next-Generation 9-1-1 (NG9-1-1) systems. SecureLogix would continue developing a modeling tool aiding 9-1-1 decision makers in planning…