Resilience Is A Choice
By FM Global
Resilience Is A ChoiceFeb 24, 2021
5G puts businesses’ industrial controls in cybercrime bull’s-eye
As new and faster cellular networks fuel the connection of more devices to the internet, these devices will become potential cyber targets. That means more potential disruption to businesses’ operational technology, including the industrial controls of offices, plants, hospital systems, supply chains and public infrastructure. FM Global senior cyber security consultant Tiago Dias details the risks and what you can do to become more resilient.
Why not bounce 'forward' from business disruptions?
When a fire, cyberattack or windstorm derails your business, you must be ready to bounce back. That’s resilience. In this episode, our guest describes the prospect of doing even better: bouncing forward, or emerging from a crisis in better shape than when you went in. Dr. Florian Roth of Germany’s acclaimed Fraunhofer Society paints the picture with practical lessons from the factory floor to coral reefs.
The U.N.'s new climate change report: What you need to know
A major United Nations report synthesizing the latest climate science just came out and it’s been billed as a “code red for humanity.” But what’s actually new? And how should global organizations respond to ensure their resilience and business continuity amid intensifying extreme weather events? Lou Gritzo, FM Global's vp and manager of research, provides business leaders a fresh lens for taking action.
How does your country stack up for business resilience?
Can the resilience of a country’s business environment where you operate be quantified and help you make informed choices? In this episode, we sit down with business risk consultant Eric Jones and explore how the multidimensional economic, risk quality and supply chain measures embedded in the 2021 FM Global Resilience Index can aid executives faced with decisions around site selection, partnerships and geographic markets.
The high cost of undervaluing your business
Insurance is often seen as a line item—until you need it. Then it’s critical you have the right coverage for the true and current value of your organization. Jeff Beauman, FM Global's chief underwriter, explains the ways companies unwittingly undervalue their businesses, potentially putting themselves in a serious financial bind when the unexpected strikes.
Sweeping review of U.S. supply chain vulnerabilities triggers self-scrutiny of business networks
In late February 2021, the U.S. President ordered a 100-day review into his country’s global supply chains, expressing concerns about availability of medicines, computer chips, minerals for advanced technologies and large batteries for electric vehicles. The executive order is the jumping-off point for this episode’s wide-ranging discussion on how the pandemic – and challenges distributing PPE and vaccines – has prompted global business leaders to scrutinize their own supply chain resilience. Alan Maner, sr. business risk consultant, explains where business leaders can start.
What the Texas power blackouts can teach businesses about resilience
Valentine’s Day 2021 brought a freakish winter freeze that disrupted power, heat and water for millions of Texans. And it’s still not over. What can power companies and leaders of enterprises everywhere learn from it all? FM Global’s Allan Johnson, operations senior vice president and head of power generation, provides insights from being on the ground in Dallas.
Close call: Florida drinking water system hacked
Hackers successfully penetrated the network of a water treatment plant in Florida last week and dialed up the concentration of lye (an ingredient used in drain cleaner) by 10 times the desired level. Though detected, the attack could have posed a serious threat. Vulnerabilities like these are increasing in water, energy, industrial, chemical and electrical transmission systems. FM Global cyber risk expert Wade Chmielinski offers timely insights and advice for executives whose businesses rely on operational technology and industrial control systems.
Hidden lessons from Asia’s economic rebound
China is the only major economy to report positive economic growth in 2020, a year that saw a global recession because of the COVID-19 pandemic. Other regions of Asia are clearly on the right track with a positive outlook for 2021. What lessons in resilience can business leaders glean from the region? FM Global’s Tan Hian Hong, based in Singapore, shares his insights.
How could you let that business disruption happen?
"How could you let it happen?" That’s what many boards are asking CFOs and their teams when preventable business risks turn into disasters. Increase your odds of those threats just being a distraction by ensuring your business continuity plan is solid. Surprisingly many companies lack such a plan or haven't adequately tested it through disaster simulations. FM Global’s Lynette Schultheis shares real world best practices for dealing with these complex challenges.
How resilient is your supply chain?
An estimated US$10 trillion in intermediate goods flows through global supply chains every year, up threefold from 2000. And a company can be expected to have a supply chain disruption of a month or longer every 3.7 years, per one study. Add in COVID-19 risk factors, and supply chain resilience has never been more important. FM Global’s Philip Johnson, senior vice president, EMEA division manager, shares insights on how to achieve it.
Will Mother Nature sink your stock price?
Companies well prepared to stand up to Mother Nature preserve their shareholder value and poorly prepared companies may not, according to the latest research. What could that mean for your organization if it's publicly traded? Bret Ahnell, FM Global executive vice president, provides some useful advice to help your firm better meet shareholder expectations.
Weather Proof: Climate Risk, Resilience and the Bottom Line
How does the changing climate threaten your business? And what, if anything, can you really do about climate risk during a pandemic? FM Global’s Katherine Klosowski, vp, manager of natural hazards, details the challenge and offers business leaders a path to resilience.