How can an organization be confident it is agile enough to react to the unknown and the evolving risk landscape? One of the best ways is by establishing a strong risk culture. In this e-book, Baker Tilly practitioners take a closer look at some of the critical risks that organizations are dealing with now, how those risks have evolved in recent years, and some basic strategies to effectively manage those risks.
Risk Assessment and Preparedness
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Cybersecurity: Action Items for Every Family Office
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As family offices expand their technology footprint, cyberattacks are rising. Hackers continue to refine their approaches, but security controls and proactive planning can strengthen your family office cybersecurity defenses. Initially, focus on the key action items to validate your existing security setup and inform your plans to address any shortcomings you identify within your family office 5.0 model.
Family Office Crisis Response and Recovery
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The list of compounding emergencies – both natural disasters and beyond – that we face today seems increasingly difficult to manage. A resilient family office is able to efficiently lead through crisis, recover essential family office functions, leverage lessons learned, and continuously improve their capabilities. Though practical guidance abounds for the large commercial enterprise, few explore right-sizing these methods for the unique circumstances and mission of the family office.
Hurricane Safety Checklist
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Being prepared and knowing how to respond to a hurricane or storm makes the difference in minimizing damage and protecting you, your family, and property. Here is a checklist to help guide you on what to do before and during hurricane season.
Key Recovery Considerations: A Checklist for Your Business Following a Natural Disaster
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In the aftermath of a natural disaster, businesses will need to take the important steps to recovery. Here is a checklist to help guide you through that process. For additional tips and guidance on how to prepare for other disasters, see the following:
Before a hurricane or storm hits, plan in advance by having an evacuation “Grab and Go” checklist, with special considerations made for children, infants, and pets. Continue to follow all evacuation orders and allow for enough time to pack and inform family and friends if you need to leave your home.
Evacuation Tips: Responding to a Hurricane or Storm
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If you have been ordered to evacuate a storm area, knowing how to respond will help you protect your family and home before and after an evacuation. Learn the important steps to take when local authorities ask you to leave your home.
Wildfire Preparedness
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The wildfire season has caused unprecedented damage across the United States. With drought conditions prevalent across much of the western United States, the wildfire outlook continues above normal wildfire conditions. Learn what you can do to be prepared for it.
4 Questions to Ask Before Buying a Home
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When it comes to buying a new home, there can be many unknowns. However, uncovering the issues and hidden risks earlier in the process can help you make a more informed buying decision. As part of your lifestyle and property management best practices, there are four important questions—including matters of insurance and geographical risks—that should be asked to help reveal the full story of a home before purchasing it.
2020 was a year of diverse risks marked by a global pandemic, a record number of storms, catastrophic wildfires, and ongoing threats to people and property from other perils, including cyber risks. When “unprecedented” is the new norm, there is a need for thoughtful risk management and insurance protection strategies as families and family offices adapt to the changing risk landscape.