CNA Blog— From the Experts

Healthcare system and patient cyberattacks continue to increase significantly, exposing vulnerabilities in information technology and network-connected diagnostic equipment.

2019 really did throw a lot of challenges at us, and things don’t seem to be backing off as we think about what 2020 has in store for us from a risk perspective. Economic, political, cyber, technology and the complexities around the interconnectedness of risk are all expected to be chief concerns for business leaders, our latest Risk and Confidence research tells us.

One steadfast truth in the business world is that it is always changing – and so are risk management needs and concerns.

As Canadian workers continue to become more savvy about human and civil rights, it is imperative that employers clearly understand that no business is immune to employment practices liability (EPL) risks.

As cyber insurance becomes a mainstream product, the insurance industry needs to consider how we prepare for large losses and ensure that we are cognisant of where claims are likely to come from.

Although the incidence of hospital-acquired C. diff. in Canada decreased from 5.9 per 10 000 patient-days in 2009 to 4.3 in 2015 according to a recent study1, this is small consolation to affected patients. The burden of severe or recurrent episodes of antibiotic-resistant Clostridium difficile infection (CDI) on individuals is debilitating, and can be fatal.

In our ever-changing and competitive business environment, your business must make continual advances in technology, innovation and solutions to enhance your processes, production and ultimately your profitability.

Infections acquired in healthcare settings — known as healthcare-associated infections (HAIs) — occur in one of every 25 patients.1 HAIs extend treatment time and hospital stays, as well as increase morbidity and mortality levels. In addition to these adverse patient care effects, HAIs create significant burdens for healthcare organizations in the form of associated financial and reputational costs.

Cyber security is a critical challenge for businesses in any industry and of any size. Even the biggest companies and brands can be victimized by cyberattacks.

For banks and other financial institutions, a continuous focus on adapting to regulatory changes, minimizing systemic risks and anticipating the effects of economic shifts is essential. And while your financial institution faces more complex challenges today than ever before, it is critical not to overlook the physical exposures that are more within your control. Learn five strategies to reduce costly slip and fall claims.