The growing use of video and automated technology, including artificial intelligence (AI), in employment practices—and the concern that the technology may foster discrimination and bias—has triggered a wide array of regulatory efforts. At least 11 statutes have been introduced targeting the use of AI-related technology to assist with employment decisions. Employers should take note of enacted and proposed legislation and consult with legal counsel before implementing automated employment technologies.
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Wealthy families have always faced complex risk management issues, but it is particularly challenging when facing soaring inflation, regulatory uncertainty, rising cybercrime rates, and increasingly severe natural disasters. These market stressors impact all sectors of the property/casualty insurance market, making it more expensive and challenging for affluent families to secure property, cyber, auto, and specialty coverages.
With climate disclosures like TCFD (the Task Force on Climate-related Financial Disclosures) being mandated across the globe, it’s time for risk management professionals to prepare for it. This playbook explores climate-related disclosures through the lens of risk and insurance, providing you with the information, specialist insight, disclosure requirements that vary from geography to geography, strategies, tools, and tips you will need to prepare for and navigate climate-change risks. It’s a resource for leaders at different stages of their climate and environmental change journey.
The use of artificial intelligence (AI) continues to spread with a staggering speed as it reshapes industries through improved efficiency, productivity, and decision-making. However, the meteoric rise and adoption of AI technology—including ChatGPT—can overshadow some valid concerns around security and privacy. Addressing those concerns, this report offers insights from industry use cases for AI and delves into the cybersecurity risks, privacy regulations and compliance, mitigation strategies, and immediate actions that security teams can take to mitigate the risk from generative AI.
Many employers have begun using artificial intelligence (AI) tools supplied by third-party vendors. On May 18, 2023, the Equal Employment Opportunity Commission (EEOC) provided guidance indicating that, in its view, employers are generally liable for the outcomes of using selection tools to make employment decisions. Learn more about what tools are covered in the EEOC guidance that clarifies an employer’s responsibility for discrimination in AI employment tools.
In today’s environment, it’s crucial for a company to have a compliance management system (a CMS) to manage risks associated with changing product and service offerings and also helps manage new regulations that are enacted to address developments in the marketplace. In this podcast, Consumer Protection attorney Anthony DiResta identifies the three main components of a CMS: board/management oversight, an effective compliance/monitoring program, and an audit system. Mr.
We have seen a return of "older" risks—inflation, cost-of-living crises, trade wars, capital outflows from emerging markets, geopolitical confrontation, and the specter of nuclear warfare—which few of this generation's business leaders have experienced.
Developed in collaboration with the World Economic Forum, this 18th edition of The Global Risks Report outlines the major risk issues and trends leaders like you will face in the coming years. This go-to resource provides detailed insights into the priorities and strategies of your peers—and gives you actionable steps to build resilience in this turbulent risk environment.
Our annual cybersecurity update will discuss one of the leading cybersecurity risks to your firm and your clients—ransomware. With the instances of ransomware attacks rising every day, wealthy family offices are particularly attractive targets to cybercriminals. In this webinar, Baker Tilly Cybersecurity Principal Joe Shusko provides insights on managing your family office’s risk against a ransomware attack. He will discuss the impacts and trends of ransomware attacks, how ransomware attacks are executed and leading practices to minimize your ransomware risk.
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.