Insurance Journal has published the top five ways that risk managers can cope with falling oil prices. Columnist John Collado cites the top four issues as: declining revenue, layoffs, consolidation, and D&O litigation. His solutions? Check employee classification and perform exposure reviews, perform collateral review, employ loss forecasting, prioritize vendor and lease contract reviews, and manage risk associated with mergers and acquisitions. In light of the recent four oil and gas companies that have filed for bankruptcy in Texas and Louisiana, the advice aims to address long-term effects of the slump.
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