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At the heart of risk management is a gloomy truth: You can never achieve zero risk. In a world of limited resources there are always tradeoffs to be made: how much to invest here and how much there, how much risk to tolerate and how much to mitigate or insure against. To answer those questions, risk quantification is necessary—to estimate how likely an outcome is to occur and more importantly, what will the cost be; translating complex real-world events into dollar figures that can enable rational decision making is critical to effective risk management.

Workplace harassment costs employers millions of dollars every year through poor employee morale, higher absenteeism, reduced productivity and costly settlements and lawsuits. Employers need to create the right culture, supported by appropriate policies and training. With the recent stunning revelations from Hollywood, the Media and Washington have clearly signaled that sexual harassment remains a serious social issue.

Now that the Tax Cuts and Jobs Act is law, it is helpful to have a checklist for determining how tax reform changes your employee benefit programs and a chart outlining the key benefit plan limits for 2018. Also in this issue of HR Focus, we revisit what sexual harassment is and what employers should be doing to prevent it, address it and help protect themselves from potential liability.

The Tax Reform Act contains sweeping changes and impacts all taxpayers, from individuals to businesses, and the rules for each category are different.

What will the world look like in 2040 if vital natural resources become scarce?

The Tax Cuts and Jobs Act of 2017 and the recent taxpayer victory in the U.S. Tax Court’s Lender Management, LLC decision have created important planning opportunities for closely held and family-controlled entities in 2018.

The 13th edition of the World Economic Forum's Global Risks Report, undertaken with Marsh & McLennan Companies, examines the evolving macro-level risk landscape and highlights the systematic threats that may disrupt expectations.

This is a report about people, their financial stress, and possible solutions to relieve that stress. Although the global mass market is used as an example throughout this report, the core messages and approaches apply across all of financial services.

Three major cyber events in 2017 set new precedents for the scope and impact of damage wrought by cyber-attack in terms of geographic and industry reach, operational disruption, and economic losses, as well as the destruction of market capital and reputation. While the concepts of cybersecurity may be foreign for many executives and board members, protecting their companies against risk is not. Great executives understand their limitations and leverage resources to fill the gaps.

Although business-related settlement payments (and attorneys’ fees) are generally tax-deductible, the 2017 Tax Cuts and Jobs Act (the Tax Act) restricts an employer’s ability to obtain tax deductions fo