AssetWorks LLC | 877-809-0600 | info@assetworks.com

The Scene:The 1999 comedy from Mike Judge stands as a cult classic for most office workers. It follows three unhappy employees at a software company who decide to plant a computer virus that can siphon funds from the company into a bank account they control. Of course, the plan has some flaws, and it spirals toward a fiery ending.

…And Action:In the case of “Office Space,” risk managers not only need to be concerned with cyber risk and employee theft, but a fire that could lead to extensive property damage. Fire is a fear for many risk managers. It’s up to them to take mitigation seriously and identify potential hazards. What’s our level of exposure? Can the risk be reduced or eliminated? How do we monitor the situation? These are questions a risk manager might ask. To deal with the threat of fire, a risk manager can put safety measures in place, including fire doors, sprinkler systems, accessible extinguishers, and enhanced employee training. www.imdb.com

The Scene:The 2004 disaster film from Roland Emmerich is a collection of environmental catastrophes wrapped up into one terrifying movie. Massive superstorms all brought on by the damaging effects of climate change lead to mass destruction carried out by a mad Mother Nature.

…And Action:Risk management meets its match with “The Day After Tomorrow.” In preparing for property damage on that scale, there are many considerations. For one, in the event of a total loss, risk managers want to be sure they can still access important documentation like property data, building images, and insurable values. Storing this information in a cloud based software solution allows the data to be accessible from anywhere with an internet connection. This makes it a bit easier to file claims with insurance carriers or FEMA.

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The Scene: Based on a story by Stephen King, this claustrophobic horror movie from 2007 closes in on a group of people inside a suburban grocery store. Outside the store, a weird mist has unleashed a collection of giant killer insects intent on tearing apart the town and killing off all of its residents.

…And Action:Risk managers should weigh all potential hazards when establishing a plan, but where do giant killer insects fit in? This black swan event can be classified as a catastrophe because it carries financial, operational and human losses. To prepare for an event like this, risk managers should consider FEMA’s National Planning Scenarios. These scenarios cover everything from rare occurrences like biological or chemical attacks to severe natural disasters. Creating and practicing plans to respond to various threats can help ensure risk managers and their colleagues are prepared should a scenario ever need to be activated.www.imdb.com

The Scene:A 2011 medical thriller from Steven Soderbergh, this pic follows a collection of different people involved with a fatal pandemic that’s killed off millions of people around the globe. A race to find a vaccine proves complicated for several scientists who are attempting to beat the clock to save the world.

…And Action: Global disease outbreak is an emerging concern for risk managers. Generally, outbreaks are regional, affecting one area before spreading slowly. FEMA’s National Planning Scenarios are a consideration here, as well. FEMA has outlined plans for biological outbreaks or attacks. For risk managers, it’s important to understand what an interruption in business could mean to the company and then establish potential plans to maintain business continuity. Options like allowing employees to work remotely, moving the entire office location, making testing available to all staff, etc. might be the answer.www.imdb.com

The Scene:Jan de Bont directed this 1996 disaster film about a group of storm chasers tracking tornadoes through Oklahoma, a state very familiar with these types of natural catastrophes. The goal of the team is to launch an instrument allowing further research of tornadoes. It won’t be easy to get close to the storm, though.

…And Action:Any risk manager working in Oklahoma – where “Twister” is set – has the threat of tornadoes high on their radar. After all, the state averages about 52 per year. Maintaining up-to-date insurable values and Secondary COPE Data are critical for risk managers in tornado alley. COPE Data is essential in identifying the possible risks a structure might face in a tornado. An onsite insurance appraisal can help with the collection of this data and get an organization well on its way to being properly insured.

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Top-notch risk managers consider all the possibilities that come with

keeping their organization up and running. Sure, gargantuan storms and

giant killer insects are not everyday occurrences, but good risk managers

play through many scenarios. Having a plan and policy in place is

important. It can help reduce the impact of a risk occurrence and increase

the stability of your organization.

AssetWorks LLC | 877-809-0600 | info@assetworks.com