Success in today's complex business environment is greatlydependent upon workforce productivity. Creating a proper workenvironment—one that is safe and secure for employees, customersand data—is vitally important. It means minimizing downside riskand creating a risk management culture.

There has been an invigorated focus on enterprise riskmanagement, the analysis of a broad spectrum of loss exposures thatbusinesses often face. Executives need to be concerned aboutreputational damage, falling stock prices, shifts in customerappetites for products or services, and even currency fluctuations.In addition, businesses may be impacted by traditional insuranceexposures. Some dramatic examples in recent years include:

• Hurricane damage from Superstorm Sandy and other severe weatherevents.
• The Ebola crisis that left a Dallas hospital reeling.
• Recent cyberattacks on SONY Pictures, Home Depot, Anthem Inc.,Target Corp. and the federal government.

Regardless of the threat, it's important for every commercialenterprise to have a plan in place long before something badhappens. While not all risks can be controlled (the weather is agood example), businesses have an opportunity to promote a riskmanagement culture that incorporates worker safety, public safetyand data safety.

Historically, businesses purchased property and casualtyinsurance and crossed their fingers. Today's businesses recognizethat proactively creating a risk management culture is essential.President Barack Obama moved cybersecurity to the top of his 2015agenda after recent hacking attacks. Every business needs abullet-proof cyber risk management plan as soon as possible.Establishing an environment of personal safety for customers andemployees is equally as important as cyber security. TheOccupational Safety and Health Administration reports that a strongsafety culture has the single greatest impact on accident reductionof any workplace practice.