What Would You Do?
Risk Scenarios combine interactive technology with hypothetical risk scenarios to create compelling learning opportunities. Created by Risk & Insurance editors along with key industry thought-leaders, Risk Scenarios challenge participants to first decide how they would handle a situation before learning the approach of peers and other industry experts.
The Curse of the Black Adder (Coming Soon!)
Executives with regional grocer Pinecrest Food Markets rush to make amends when it is thought that customer financial data had been compromised in a cyber-breach. But the family-owned company’s executive team scrambles to do damage control without first having a good grasp of the language in their cyber coverage policy. Pinecrest’s problems go from bad to worse when it’s determined that there was in fact no breach. This fact leaves Pinecrest uncovered for its customer notification expenses and the company takes a serious reputational and financial hit.
Jon Fried is the risk manager for SharpTec, a drilling and mining tool manufacturer based in Delaware. Jon is keenly concerned when Wanda, a CAT 4, makes her way up the Atlantic coast. One thing that makes him feel a little bit better is his $20 million all-risk property policy that contains cover for a wind and a $5 million sublimit for flood. Wanda brings her wind and rain and the factory floods. Jon’s hopes are dashed when it is determined that Wanda is a flood event and not a wind event under the terms of his policy. SharpTec suffers further losses due to its failure to carry contingent business interruption insurance. Jon might keep his job, but his relationship with his superiors is severely damaged.
The peace of a summer afternoon is shattered when a bomb explodes in a busy Chicago building. Pomegranate, a national urban décor and clothing retailer, loses customers and employees in the blast, including an important executive. It becomes clear the company lacks an effective crisis response plan when it cannot quickly locate key personnel and fails to make important business continuity decisions. Bad feelings build up between the survivors of the deceased and the company’s grief-stricken executives. In the end, Pomegranate’s inability to communicate effectively with stakeholders and the bereaved has far-reaching financial and reputational consequences.