"Insurance and Risk Transfer Guideline" to receive first update since its introduction in 2000.
The Publications Task Group of Chicago-based Professional Records and Information Services Management (PRISM) International, Chicago, has accepted a proposal from Brightstone Insurance, with offices in Cleveland and New York City, and Brightstone Consulting to revise the PRISM International publication “Insurance and Risk Transfer Guideline.”
The publication was created in 2000 to help members of the industry understand the fundamentals of insurance and risk. This will be the first revision of the publication.
As a part of the revision process, Brightstone Insurance has been collecting sample insurance policies from members of the commercial information management industry. While the data have been helpful, the data sample has been relatively small, Brightstone says.
A second, broader survey of the industry was sent to industry operations Oct. 23, 2012. The survey seeks to measure key data points regarding current industry insurance practices so that the resulting data can be incorporated into the final publication, according to Brightstone. The deadline for survey response is Oct. 30, 2012.
Brighstone says one of the key areas of concern for industry operators is effectively managing the risks associated with data breaches. This risk exposure was not addressed in the previous edition of the publication. The publication also will examine industry trends regarding managing risks associated with catastrophic loss events including special coverage to manage disaster and incident response and revenue replacement beyond the normal scope of business interruption coverage, the company says.
The actual date of publication will be reported by PRISM International following its document review process. A tentative project timetable calls for the publication to be completed in time for the 2013 PRISM International Annual Conference. Brightstone Insurance says it will be prepared to review the results of the study with members of the industry at the conference.
Any member currently involved in the commercial information management industry is welcome to participate in the survey. Jim Booth, records and information management practice leader at Brightstone Insurance, can be contacted by email at email@example.com for a web link to the survey.