Risk management is an essential practice for any modern organization, yet there are three major threats that can undermine its effectiveness: lack of identification, underestimation of risk, and absence of contingency planning. The first threat is the failure to properly identify risks. Many organizations neglect to conduct a thorough analysis of their operations, leaving hidden…
The difference between hiring professional services and an employment relationship may seem subtle, but it has profound legal implications in Panama. It is essential for companies and professionals to understand these differences to avoid legal conflicts or labor contingencies. In a professional services contract, the worker acts independently, without subordination, and bills for their services,…
The recent reform to Panama’s Social Security Law has had a significant impact on both employers and employees. This legislative update aims to strengthen the financial sustainability of the Caja de Seguro Social (CSS) and improve the medical and financial benefits available to insured individuals. Among the most notable changes are the gradual increase in…