This document discusses how risk managers can prepare for various catastrophic scenarios depicted in popular films by considering all potential hazards, establishing plans using FEMA guidelines, and ensuring important documentation and property details can be accessed remotely if needed. It emphasizes the importance of risk managers thinking through many scenarios to help reduce impacts and increase organizational stability.
3. The Scene:
The 1999 comedy from Mike Judge stands as a cult classic for most office workers. It follows
three unhappy employees at a software company who decide to plant a computer virus that
can siphon funds from the company into a bank account they control. Of course, the plan has
some flaws, and it spirals toward a fiery ending.
…And Action:
In the case of “Office Space,” risk managers not only need to be concerned with cyber risk and
employee theft, but a fire that could lead to extensive property damage. Fire is a fear for
many risk managers. It’s up to them to take mitigation seriously and identify potential
hazards. What’s our level of exposure? Can the risk be reduced or eliminated? How do we
monitor the situation? These are questions a risk manager might ask. To deal with the threat
of fire, a risk manager can put safety measures in place, including fire doors, sprinkler
systems, accessible extinguishers, and enhanced employee training.www.imdb.com
4. The Scene:
The 2004 disaster film from Roland Emmerich is a collection of environmental catastrophes
wrapped up into one terrifying movie. Massive superstorms all brought on by the damaging
effects of climate change lead to mass destruction carried out by a mad Mother Nature.
…And Action:
Risk management meets its match with “The Day After Tomorrow.” In preparing for property
damage on that scale, there are many considerations. For one, in the event of a total loss,
risk managers want to be sure they can still access important documentation like property
data, building images, and insurable values. Storing this information in a cloud based
software solution allows the data to be accessible from anywhere with an internet
connection. This makes it a bit easier to file claims with insurance carriers or FEMA.
www.imdb.com
5. The Scene:
Based on a story by Stephen King, this claustrophobic horror movie from 2007 closes in on a
group of people inside a suburban grocery store. Outside the store, a weird mist has
unleashed a collection of giant killer insects intent on tearing apart the town and killing off all
of its residents.
…And Action:
Risk managers should weigh all potential hazards when establishing a plan, but where do
giant killer insects fit in? This black swan event can be classified as a catastrophe because it
carries financial, operational and human losses. To prepare for an event like this, risk
managers should consider FEMA’s National Planning Scenarios. These scenarios cover
everything from rare occurrences like biological or chemical attacks to severe natural
disasters. Creating and practicing plans to respond to various threats can help ensure risk
managers and their colleagues are prepared should a scenario ever need to be activated.www.imdb.com
6. The Scene:
A 2011 medical thriller from Steven Soderbergh, this pic follows a collection of different
people involved with a fatal pandemic that’s killed off millions of people around the globe.
A race to find a vaccine proves complicated for several scientists who are attempting to
beat the clock to save the world.
…And Action:
Global disease outbreak is an emerging concern for risk managers. Generally, outbreaks
are regional, affecting one area before spreading slowly. FEMA’s National Planning
Scenarios are a consideration here, as well. FEMA has outlined plans for biological
outbreaks or attacks. For risk managers, it’s important to understand what an interruption
in business could mean to the company and then establish potential plans to maintain
business continuity. Options like allowing employees to work remotely, moving the entire
office location, making testing available to all staff, etc. might be the answer.www.imdb.com
7. The Scene:
Jan de Bont directed this 1996 disaster film about a group of storm chasers tracking
tornadoes through Oklahoma, a state very familiar with these types of natural
catastrophes. The goal of the team is to launch an instrument allowing further research of
tornadoes. It won’t be easy to get close to the storm, though.
…And Action:
Any risk manager working in Oklahoma – where “Twister” is set – has the threat of
tornadoes high on their radar. After all, the state averages about 52 per year. Maintaining
up-to-date insurable values and Secondary COPE Data are critical for risk managers in
tornado alley. COPE Data is essential in identifying the possible risks a structure might face
in a tornado. An onsite insurance appraisal can help with the collection of this data and get
an organization well on its way to being properly insured.
www.imdb.com
8. Top-notch risk managers consider all the possibilities that come with
keeping their organization up and running. Sure, gargantuan storms and
giant killer insects are not everyday occurrences, but good risk managers
play through many scenarios. Having a plan and policy in place is
important. It can help reduce the impact of a risk occurrence and increase
the stability of your organization.
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