2014 RIMS Canada Conference in Winnipeg, Manitoba

http:// ontario.rims.org

THE HEARTBEAT OF RISK MANAGEMENT, OCTOBER 2014 2014 RIMS Canada Conference in Winnipeg, Manitoba

By: Paul Provis, ORIMS Vice President

T he 40th annual RIMS Canada portunities at some of Winnipeg’s finest ment community who has met the crite- Conference was recently held in restaurants and landmarks (and golf ria of having made outstanding contribu- Winnipeg Manitoba. It was well attended courses too). tions to the field of risk management in by delegates and industry partners from Canada. At the Wednesday morning At the conference, ORIMS was pleased all over Canada and the U.S. e confer- awards presentation, I had the privilege of to once again present the Don Stuart ence was kicked off by the Sunday wel- presenting the 2014 Don Stuart Award to Award which is bestowed annually to a come reception at the new Canadian Anne Chalmers of Teck Resources, from member of the Canadian Risk Manage- Museum for Human Rights. Attendees Vancouver B.C. Anne was recognized for her were treated to a sneak preview of the over 25 years of accomplishments and service impressive facility, which had not yet been to the Risk Management community. ORIMS Vice President Paul Provis presents opened to the public. It is the first na- the 2014 Don Stuart Award to recipient, e ORIMS’ Board would like to con- tional museum built outside of Ottawa Anne Chalmers, Teck Resources, Vancouver B.C. gratulate the Winnipeg local organizing and provides impressive views of the city committee for putting on a fantastic con- cluded Amanda Lang, Chris Mathers and from the Tower of Hope. ference and for all their hard work and Diane Francis and others. Topics included e conference began on Monday with a dedication. e 2015 RIMS Canada crime, cyber liability, globalization and in- wide variety of professional development Conference will be held in Quebec City novation and productivity. In addition, sessions along with accomplished and from September 27th to the 30th. We the conference of course provided for impressive plenary speakers which in- hope you will be able to attend. some excellent networking and social op-

TO PROMOTE AND ADVANCE EXCELLENCE IN RISK MANAGEMENT INSIDE 1 2 3 5 6 7 8 RIMS Canada MOVING TARGET What are Surety Bonds 2014 RIMS Canada Implementing Strategy CHAPTER EVENTS Chapter Events THIS Conference How Mobility Challenges and Who do they Conference into Risk Management 2014 RIMS Canada – Contd. ISSUE Cyber Security... Benefit? – Student Involvement Conference OCTOBER 2014 Page 2 http:// ontario.rims.org MOVING TARGET How Mobility Challenges Cyber Security – And What to Do About It

By: Matthew Davies, AdC, FCIP, CRM, Director - Professional, Media & Cyber Liability, Chubb Specialty Insurance - ChubbPro

mart phones, tablets, laptops and tial portion of that risk. In fact, respon- Mobility and Security BYOD: S dents in the 2014 TELUS-Rotman IT other mobile business devices have While these security measures can help Security Study ranked laptop or mobile When Personal and become essential business tools—and reduce your risks, they’re not foolproof. device hardware theft as the second-high- Corporate Data Mix attractive targets for cyber criminals Developing and implementing best prac- est threat, behind viruses, malware and seeking private information. Consider tices for mitigating the risk of a data spam. Yet only 37 percent of organiza- Companies with staff who spend these scenarios: breach are crucial. Knowing what to do if significant time outside the office tions surveyed have a comprehensive mo- An unencrypted secure digital (SD) card an employee’s mobile device is potentially may rely on mobile devices to get the bile security program in place. was stolen from a hospital employee. e or actually compromised can ensure secu- job done. Many of those employees SD card, taken from a bag in the em- rity for thousands of customer records. may want to use their own mobile The Best Defence: ployee’s car, contained personal informa- Quickly recognizing that just losing a device, rather than carry around addition on 15,000 program participants. A Good Offence device could, in and of itself, constitute a tional company-issued devices. Does your firm’s network security and breach, having the ability to shut it down, This “Bring Your Own Device” (BYOD) Data included patients’ names, addresses, privacy policy specifically address threats having a security team ready to investi- approach, while convenient, raises dates of birth, and marital status, as well to mobile devices? Are established proce- gate, and implementing post-breach pro- some significant risk management as assessment information. dures implemented? Reviewing policies tocols can help head off potential night- questions around the mixing of Several unencrypted company laptops and procedures now can help avoid or at mares. e mere fact that it is missing corporate and employee data. If your were stolen from a manufacturer’s U.S. least minimize a data breach. may impose obligations on the organiza- company allows or encourages this headquarters. A former employee took practice, you can balance employees’ tion. Ultimately, even if the device is the laptops, which contained information When it comes to mobile devices, the fol- needs and yours: never found nor accessed by someone such as credit card and driver’s license lowing steps are key to mitigating cyber risk: who intends to do harm with the infor- Have a policy. data on roughly 102,000 employees in the Clearly communi- • Encrypt it. Take advantage of the mation it contains, the onus may fall on United States, Canada and Europe. cate to employees what their respon- data encoding software built into the the organization to fully investigate the sibilities are, what configurations are Cyber threats are constantly evolving, and operating system. If built-in software event and respond appropriately in order required, what you will monitor, and the rise of mobile technology adds one isn’t available, use a trusted third- to comply with privacy laws and protect what information you will collect. more wrinkle. e result? A 2013 survey by party application. the organization’s reputation. Require employees to sign your policy. information technology and security firm • Use a real password. As obvious as In addition, cyber insurance can be an Balance security and Symantec found that the majority of re- that seems, many people don’t use a important tool for managing the costs privacy. Just as you need to protect spondents reported at least one mobile se- “strong” password to protect their of a potential or an actual data breach. your company’s private information, curity incident within the last 12 months. mobile devices. According to Splash- Insurance companies offer third-party employees will want to protect theirs. Data, a password management appli- liability coverage for lawsuits filed in the Balance these needs as you develop Many Companies cation provider, the word “password” wake of a data breach or network intru- and implement your BYOD policy. topped the list of worst Internet pass- Legal counsel can help you navigate the Unprepared sion. Insurance protection also is available complexities of this issue. It’s no secret that investigating and re- words. A string of consecutive num- for an organization’s direct expenses, such sponding to a breach is costly—but the bers, such as 12345, is the second- as the cost to notify affected individuals; Know your licenses. Your indirect costs are just as disconcerting. weakest type of password. Use a the cost to change account numbers; company likely uses many different High-profile cyber-attacks can damage a combination of letters, numbers and forensics, crisis management, and public software applications—each with its company’s reputation and lead to cus- other characters for password strength. relations expenses, as well as losses from own licensing requirements that spell tomer defections. Breaches involving em- business interruption. out how many users or devices are in- • Get it back or shut it down. Register ployees can damage employer-employee cluded. Ensure adding employee devices devices with a GPS tracking service When evaluating your cyber insurance relations. And productivity can take a se- will not violate licensing agreements. in case the device is stolen or lost. If options, look for an insurer that has ex- rious hit when staff members put aside the tracking doesn’t succeed, the next pertise in this specialized area. Ask about Set clear limits. Prohibit employ- their daily responsibilities for days to re- step is to wipe the contents of the the services the insurer offers to help ees from “rooting,” “jail breaking,” or spond to an incident. device clean. All major smart phone manage cyber risks. Some insurers, for other means of circumventing mobile brands have some kind of remote instance, have panels of various vendors phone restrictions—for instance to Despite the potential expenses, many erase capability. (from legal counsel to forensics experts) gain access to a free Wi-Fi hotspot or companies say they are not fully prepared to ward off or respond to a breach. In a that can offer guidance in case of a data play a pirated game. • Set up cyber-attack alerts. Network 2014 Ponemon study of Canadian com- breach. ey may even offer premium Follow through. intrusion software can help busi- Audit the use of panies, more than half of companies sur- credits for some loss prevention measures. employees’ devices to ensure they are nesses identify unauthorized break- veyed do not think their organization is adhering to the established policy. ins. It’s also important to watch for Our increasingly mobile business culture protected from advanced cyber-attacks. large amounts of data leaving the or- can make the challenging issue of cyber risk Matthew Davies is a director for professional, Less than half said they have a good under- ganization. Check logs regularly for management even more so. But taking a media and cyber liability for the Chubb Group standing of the threats facing their company. unusual activities. few key steps today can help you avoid or at of Insurance Companies. He can be reached at least minimize a cyber-breach tomorrow. [email protected]. Mobile technologies represent a substan-

TO PROMOTE AND ADVANCE EXCELLENCE IN RISK MANAGEMENT http:// ontario.rims.org OCTOBER 2014 Page 3 What are Surety Bonds and Who do they Benefit?

By: Andrew Chan, B.A., ACSB, CRM, Assistant Vice President, Account Executive Willis Construction North America - Surety Solutions

S urety Bonds, such as Bid Bonds, e Surety will also review the contrac- Performance Bond: e Performance Performance Bonds and Labour and tor’s business operations, shareholders and Bond is a written legal agreement, in which Material Payment Bonds are being requested company history. If the Surety is satisfied the surety guarantees that the contractor or more often than the traditional Letter of that the contractor can meet their re- principal will perform the obligation stated Credit in the Canadian Construction quirements, the contractor is offered a in the bond. e bond provides security to Industry. is is particularly true given the Surety Facility and can apply for Bonds. the Project Owner or Obligee if the Con- current economic climate and the on-going tractor or Principal fails to perform the Cost of a Bond: concerns that owners have, in general, contract. e surety company will take the with respect to assurance that a contractor While the cost of a bond may seem ex- responsibilities of the contractor as per the is financially stable. pensive to an Obligee, it is often worth terms of the contract subject to the condi- the price for the protection that the Bond tions of the bond. is Bond unlike a letter e purpose of this article is to explain the offers. e cost of the bond depends on of credit may provide the Obligee with basic concept of how Surety Bonds work the price of the job, the type of work, du- support including retendering, additional and their benefits to contractors, trades, ration and the type of contract. In general funding of the contractor, coverage for di- suppliers, owners, lenders and the public. more complex higher risk factors increase rect loss due to contractor failure and tech- A surety bond is simply an agreement be- the rate of the contract price. e cost of nical assistance in order to assist in com- tween three individual parties. It is a finan- both a combined Performance & Payment pleting the contract. In the event of project cial guarantee by the first party, known as bond is generally about 30 % to 40% higher disputes between owner and contractor, the the Surety, to a second party, known as an than just a Performance bond. e cost also surety may prove to be a valuable mediator Obligee, that a third party, known as the increases as the percentage of the bond to to keep both parties in compliance with Principal, will fulfill his obligations to contract price increases (100% bonds are their contract, thus enabling the project to the Obligee. about 30% to 40% higher than 50% bonds). get back on track. If the Principal is unable to fulfill their obligations (and thus are Stages of Bonding: Main Purchasers found to be in default) as stated in the con- of Bonds: - Prequalification, Tender, Construction tract and bond, the Obligee may ask the & Warranty ere are different Federal, Provincial and Surety to rectify the situation under the terms outlined in the Bond. Municipal regulations that require con- Tender Bonds tractors to obtain a bond if they want to Labour & Material Payment Bond: ere are two contract surety bonds which bid and work on public projects. Federal, Often referred to as an L & M or just could potentially be required at this stage: Provincial and Municipal regulations re- Payment bond, is intended to protect an quire the Principal to provide a Bond for An agreement to bond commits the Obligee, direct suppliers and trades from public projects such as the construction of surety to providing performance and the exposure of liens and trades leaving the a new hospital or school. By doing this, payment bonds if the contractor is site when a contractor fails to pay its sub- Federal, Provincial and Municipal govern- awarded the contract. is is provided contractors or suppliers for work and materi- ments are able to protect the use of public at the formal tender stage and the als . A bond would help the Obligee pay sub- funds should the Principal not be able to Surety will require the full tender details trades who continue to work on the project if complete a project. ese Federal, Provin- and a current file in satisfactory order the General Contractors is unable to do so. cial and Municipal regulations however, do to approve the Agreement to Bond. By having a bond in place, the Obligee not necessarily apply to non-government would be able to complete a job with mini- A bid bond is obtained by the principal or private owner projects. For those proj- mum disruption. is is an example of the during the bidding process as a Secu- ects, obtaining a bond is the private many benefits of Performance Bonds and rity deposit to cover damages should owner’s decision. ere are also occasions, Labour and Material Payment Bonds. where a financial institution may require the contractor fail to sign the contract the Obligee to obtain a bond from the when the Obligee accepts his bid after Occasionally contracts require extended contractors who are working on a particu- awarding the job to the contractor. is Bonded Warranties. e manufacturers’ lar project where the bank is financing the includes taking the next steps, arrang- warranties should be limited by the in- project. e financial institution wants to ing further bonding that is required to staller to one year of General Bonded protect the course of construction funding. fulfill the contract such as performance Maintenance which covers not just inherent and payment bonds. defects but gives the owner a guarantee Qualifying for a Surety from the installer of proper installation. Facility: Construction Performance bonds cover this initial full Before obtaining a Bond from an insur- When the contractor is awarded a contract, warranty under a contract clause called ance company, the Principal must be eval- the owners require the contractor to provide bonded maintenance that includes one uated and underwritten to make sure that the “final bonds” which may be either a year from date of substantial completion. they qualify for a surety facility. e performance bond or both performance If extensions to this bonded period are Surety evaluates the contractor based on bond and labour & material payment bond. required they are considered for an addi- its financial strength, references, related e most common bonds required during tion year for an additional fee – but are work experiences and credit score rating. the construction phase are: much more difficult to obtain beyond three years. Continued on page 4 ...

TO PROMOTE AND ADVANCE EXCELLENCE IN RISK MANAGEMENT OCTOBER 2014 Page 4 http:// ontario.rims.org

What are Surety Bonds...... from page 3 Why is surety not insurance? Most surety companies also are the insurance companies. at is one of the reasons why many people think that surety is similar to insurance but this is the only thing they have in common.

“Lets talk about the differences.” • In insurance there are two parties: the insurer and the insured. Insurance is intended to protect the applicant (insured). In exchange for payment of a premium, the Insurance Company assumes the insured’s risk against accidental loss. is is a risk transfer.

In surety there are three parties: Obligee, Principle and the Surety: • e Obligee is the party who requires the bond and is the party to which the others are obligated. e Obligee or go after the principal assets and the assets those named as beneficiaries on the bond of those who have signed the indemnity receive the protection. agreement to recoup losses. Just as a bank • e Principal has to apply, qualify and may do, the Surety may take steps to eval- pay for the bond. e contractor as the uate and register their security. applicants must Assume the Risk to fulfill the obligation. An Indemnity How Bonds Benefit Agreement similar to a loan guarantee The Contractor? is signed by the applicants as their Does not interfere with bank operating promise to make sure the Surety has • lines no losses • Does not tie up valuable working capital • In the event that the principal can´t or cash flow position of the company fulfill its obligation, the surety must do and the contractor could tender other so and will expect repayment from all projects. who signed the Indemnity Agreement. • Surety expertise allows much greater • e surety, similar to all lenders, un- “guarantee leverage” as letters of credit derwrites for zero losses. If the surety require 100% security versus bonds believes that the principal may not that may require as little as 10% security stay in business long enough to fulfill in the form of corporate assets. its obligation, it will not approve the bond. Unlike insurance that may be • Sureties relying more heavily on alter- obtained even if you have had prior nate risk control measures option such losses, Bonding Companies will gener- as larger holdback, bonding the major ally not issue bonds to applicants with sub trades, contractor expertise on prior financial failures personally or in specific projects. business. e use of higher rates will Sureties tend to underwrite each proj- seldom, if ever, influence the decision • ect in addition to just reviewing the to bond. financial ratios and credit/collateral • In surety, rates are not based on statis- security posted by the contractor due tical data which estimates the cost of to their higher levels of experience and possible claims as they are in insurance. focus on construction “ which unlike Surety rates are similar to a banking fee banks is their main line of business” where a loan is extended with the expec- Sureties under bond programs “allow tation of no losses and full payment is • support based on uncompleted cost of secured. Rates are subject to numerous construction“ and the analysis of profit factors including type of bonds, class of left in the job versus banks rely on the business, volume of business and like face value of the letter of credit (until all lenders are affected by the financial the beneficiary releases it – banks regard strength and performance record of the it as 100% exposure. contractor. As previously noted and of utmost importance is the last difference: • Sureties protect contractors from an e General Indemnity Agreement. unfair default call versus a letter of credit, which is an on demand collat- Every principal may sign a corporate in- eral. is unfairly exposes a contractor demnity agreement which states that if a during a legitimate business dispute. surety pays a claim, they have the right to

TO PROMOTE AND ADVANCE EXCELLENCE IN RISK MANAGEMENT http:// ontario.rims.org OCTOBERMARCH 2012 2014 Page Page 5 5 2014 RIMS Canada Conference Student Involvement By: Alyssa Newton, Vanessa Armstrong & Kiley McCusker, Mohawk College

T his year, four of us from Mohawk crime and his experiences working under- College in Hamilton Ontario were cover in money laundering schemes. fortunate enough, along with three other Finally we had a presentation with Eric students, to be given the opportunity to Noel called ‘Canada 2030’ which looked attend the 40th annual RIMS Canada at what the possible major risk issues (Risk and Insurance Management Society would be in the next sixteen years. of Canada) conference, held in winsome One of the most influential meetings we Winnipeg, Manitoba. Representing attended was the William H. McGannon Mohawk College from the McKeil Foundation’s annual general board meet- School of Business were Alyssa Newton, ing. We had the opportunity to meet gen- Vanessa Armstrong, Daniel Flanagan and erous benefactors who all graciously do- Kiley McCusker, who were chosen from nated their time and energy to promoting the Insurance program. insurance to students in the insurance and We were all looking forward to the con- risk management industry. ference, and the prospect of seeing behind A big thank you to the McGannon Foun- the public curtain of the risk management dation, Joe Restoule, President, Wayne We look forward to attending Quebec City Please visit the RIMS Canada (http://rimscanada.ca), the William H. McGannon world, but we never expected the sights Hickey, Director, Ashley Becker, Officer in 2015 after we graduate and embark on Foundation (www.mcgannonfoundation.ca), and our careers in the insurance and risk man- we would come across over the jam-packed and Treasurer, Marley Drainville, Direc- Mohawk College Insurance program websites four-day experience. tor, Mark Roberton, Director, April agement field. (www.mohawkcollege.ca). Savchuk, Director and Secretary, Denis Sponsor and exhibitor stations, filled with Schaeffer, Director and all the chapter some of the best companies in the risk representatives for being so wonderful, management industry, covered the RBC and inspiring us all. Without the founda- Convention Centre, from the top local tion and its goals of student involvement, restoration firms to large, globally estab- we would not have been able to attend lished insurance companies. All were this stimulating opportunity. excited to speak about their business and to ask and answer questions. In asking We heard a jolting statistic at the confer- questions we learned what each company ence: while five people of the industry are did and how they contributed to the in- retiring, there is only one person entering surance and risk management industry. the field. It feels like this industry is a hidden gem; one with ample prospects The RIMS Canada conference was also and friendly, helpful professionals who full of interesting and informative semi- are just waiting to welcome students into nars with a wide variety of experts lectur- the field. We feel blessed to have found ing on their specialties, from captives in this group of people and to have been insurance to cyber liability; all topics given this enormous opportunity to view that are affecting our world and the behind the scenes of the risk management world of risk management. industry. It is tremendously motivating to ere were also helpful lectures that were see how diligently these people work to not specifically related to risk manage- promote and employ safety that affects all ment, like the charming and entertaining of us, both locally and internationally. memory expert, Bob Gray, who taught RIMS Canada’s welcome reception was visualization techniques to improve any- held in Winnipeg’s newly constructed one’s recall, which always helps, especially Canadian Museum of Human Rights; an during a conference when you are meet- awe-inspiring, unique piece of architec- ing so many new faces. ere was also a ture, with a tall spire rising from the very presentation from Amanda Lang, Cana- top, called the Tower of Hope. During dian anchor and journalist, who spoke the reception, as we looked out over the about our natural curiosity, that is usually city’s skyline, standing at the highest discouraged at a certain point in our point, that is exactly what we felt: hope. childhood, but if implemented, can lead to Hope for future opportunities in risk breakthroughs in every field, not just in management. Hope for the friendships risk management and insurance. Chris yet to be made in the industry. And Mather’s ‘Crime in the Business and the hope for a fulfilling career that is Business of Crime’ session outlined how just beginning. to spot and avoid the risk of white-collar

TO PROMOTE AND ADVANCE EXCELLENCE IN RISK MANAGEMENT OCTOBER 2014 Page 6 http:// ontario.rims.org Implementing Strategy Into Risk Management

By: Darius Delon, CCIB FCIP CRM, Associate Vice President, Mount Royal University

T here is a lot of talk about risk manage- in but if they are not you could always ment, enterprise risk management manage ERM with what a friend of my and strategic risk management. ere is a mine likes to call Stealth ERM. All the lot of advice on how you should develop same work goes on but you don’t have it the risk framework in your organization as a strategic directive because sometimes but not much is said on what strategy you executives have other issues that take should consider when you implement priority - or - they don’t see the value risk, enterprise risk or strategic risk. in ERM, yet! You need to prove to them, and everyone else, that what you To be the most efficient and effective in are doing helps each department implementing your strategy (change man- operate better - whether it is 1% or agement) you need be open to changing 100% better. that strategy when you are not getting enough traction (most impact in the short- Stealth ERM requires you to en- est amount of time). Don’t be fooled into gage front line staff with the logic thinking that just because you have buy-in embedded in risk - what we do makes that your advocates/management/board sense - use relevant examples with your don’t want immediate measurable results. front line staff that shows the past errors and the future potential successes. Inci- e first thing everyone will tell you is dent examples have a lot of weight with that the senior executive needs to be people, especially if they are internal bought in - ideally they need to be bought examples, gather these examples and be

prepared to mention them often to prove One of the biggest buy- in methods for a to people that these incidents have hap- successful strategy is talk. One person at a pened in the past and can happen again. time, one hour at a time, one advocate at a time. People will not buy-in to ERM just Even when you have senior executive because they read something you put in buy-in or even the board - you may still front of them or heard at a large forum. have problems getting traction from vari- Talk to them, work with them, get small ous middle managers. We have all heard wins, change how they perceive managing about the Director that is against a project risk, and help them make positive but their assistant gives your valuable changes in how they manage their activi- insight into the department because they ties without the quintessential NO that is think risk management is awesome. associated with risk management. Sometimes you need to go to the front line staﬀ to get buy-in and more impor- ERM is just a tool for making better tantly operational changes. It takes more sustainable decision for the organization. time to talk to all of the front line groups, but in the end it is worth it.

ORIMS

CHRISTMAS LUNCHEON Thurs Dec.11, 2014 It’s the most wonderful time of the year! Last year the ORIMS Christmas lunch- e holiday season brings many reasons eon was attended by about 660 people, to gather and celebrate… and you’ll not and raised over $10,000 as well as 2 bins want to miss the opportunity to do so of non-perishable food items for the with friends and colleagues at the annual Daily Bread Food Bank. ORIMS Christmas lunch. Please come If you would like information on being out to wine, dine and show your support. a sponsor for our wonderful holiday gath- A portion of the event proceeds go to ering, please contact James Eka, Director, the Daily Bread Food Bank. Please save Social Programs at [email protected] or the date and join us at the Westin Harbour Paul Provis, Vice President, ORIMS at Castle Hotel in Downtown Toronto. [email protected].

TO PROMOTE AND ADVANCE EXCELLENCE IN RISK MANAGEMENT http:// ontario.rims.org OCTOBER 2014 Page 7 Chapter Events 2014 RIMS Canada Conference CROSSROADS: Changing Landscapes

isk managers and insurance in- R dustry professionals from across the country gathered in Winnipeg, MB from September 14-17 for the RIMS Canada Conference. The days were jam packed with educational sessions, and networking opportunities. The opening reception was at the brand new and historic Canadian Museum for Human Rights.

Photos courtesy of Canadian Underwriter Magazine.

TO PROMOTE AND ADVANCE EXCELLENCE IN RISK MANAGEMENT OCTOBER 2014 Page 8 http:// ontario.rims.org

Chapter Events Contd.

Photos: Courtesy of Canadian Underwriter Magazine.

2014-2015 Editorial Policy Board of Directors e PULSE is a publication of the Ontario Risk and Insurance Management Society and is pub- Editorial Committee Julian Valeri ...... President lished periodically throughout the calendar year. Managing Editor/Director, Paul Provis...... Vice President e opinions expressed are those of the writers Riaz Juma Mark Cosgrove ...... Treasurer and the volunteer members of the PULSE [email protected] Valerie Fox ...... Corporate Secretary Editorial Committee. Articles submitted to the Editor in Chief, PULSE for publication are subject to the Paul Provis Helen Trajanos ...... Public Relations & External Affairs [email protected] approval of the PULSE Editorial Committee. Tina Gardiner ...... Professional Development Article Co-ordinator, Approval of such articles is based upon news- Riaz Juma ...... Communications Mark Morency worthiness, and perceived beneﬁt to the reader- [email protected] Agata Jamroz ...... Education ship. All decisions of the PULSE are not subject Article Co-ordinator, Joe Costello ...... Membership to appeal. Individuals submitting articles to Vic Persaud [email protected] James Eka ...... Social Programs the PULSE hereby acknowledge their PULSE is produced on behalf Glenn Morato ...... Webmaster acceptance of the PULSE Editorial Policy. of ORIMS by, David Beal ...... Past President PAPPLE GRAPHICS.

TO PROMOTE AND ADVANCE EXCELLENCE IN RISK MANAGEMENT