Allianz Risk Barometer – A “gut check” on how top 10 risks can impact you….

Posted by The ALS Group on Jun 4, 2019 11:56:20 AM

For the last several years Allianz has published a concise and informative report on the top risks that businesses face globally. It is a great opportunity to think about how these risks could affect your business operations and what the impact would be. When thinking about risk, it is important to think about "materiality" and what "financial impact" would be material for your company to cause a disruption. Even through many of the risks on this year’s report are readily insurable, the "disruption factor" of having to manage through a loss is worth considering.

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Topics: Cyber Risk, Property Risk, Risk Identification, Supply Chain Risk

How Site Safety Management and Site Security Reduce Construction Risk

Posted by The ALS Group on May 29, 2019 9:53:37 AM

 

Site Security

Protecting a Project’s assets is at the top of the list for most Developers and Lenders these days. Whether it be finances, property, or business, setting up some type of a security blanket for your project assets always adds additional comfort to the certainty of the project and desired outcomes. Most of the time these everyday risks can be covered through insurance; but what do you do when you are faced with protecting a growing (maturing) asset?

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Topics: Construction, Construction Project Risk, Construction Workplace Safety

Are Your Construction Projects at Risk Because of Cyber Exposures?

Posted by Jon Edwards on Apr 30, 2019 11:30:44 AM

The construction industry is changing rapidly and more and more projects are relying on emerging technologies for management and completion. There are now major cyber related concerns regarding “smart” equipment such as cranes and drones and SAAS/IAAS systems used for project planning and management. ‘Connected’ systems utilized by third-parties (general contractors and subcontractors) to share and centralize sensitive data may also expose a project to cyber risks.

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Topics: Construction, Construction Project Risk, Manage Construction Risk, Risk management, cyber attacks

Hospitality Industry Challenges & Risks

Posted by Nick Sica on Mar 25, 2019 3:34:40 PM

As the Hospitality industry continues to experience growing activity amidst a strong economy, there are, inherently, challenges that must be continuously addressed and improved on to ensure customers keep coming back. Identifying challenges and solutions to those challenges is one aspect of avoiding pitfalls, but an often overlooked perspective is the risk(s) to which those challenges could, ultimately, lead.

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Faulty Work & Claims Reporting

Posted by Albert Sica on Mar 6, 2019 10:22:10 AM

I came across an interesting case that illustrates how critical it is to properly notice a “downstream party” of a claim (or potential claim) and require proof that notice was filed with their insurer.

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FACC Sues CEO, CFO in Wake of "Fake-President" Fraud

Posted by Jon Edwards on Dec 17, 2018 4:31:17 PM

A new development has occurred in the FACC cyber “fake-president fraud” case.

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Topics: Phishing Scam, Risk management, Risk Mitigation, cyber attacks

COI Compliance: Do You Sleep at Night?

Posted by Andrew Masini on Jul 24, 2017 1:07:24 PM

There are industries that entail managing insurance compliance among large numbers of vendors/contractors, which challenges even the most organized firm to manage the compliance properly. If done right, it’s a process which requires diligence and specialized knowledge:

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Topics: COI Compliance

Client Success Story: Real Estate Investor/Lender – Insurance Compliance

Posted by Jon Edwards on Jul 12, 2017 10:53:08 AM

Situation & Issue

A NY-based organization (acting as tax syndicator) with over 350 properties engaged us to review and modify the lender requirements and to ensure insurance compliance with the requirements from the various parties involved in a deal

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Topics: Real Estate, Client Success, COI Compliance

3 Types of Employees that Expose Organizations to Cyber Risk

Posted by Jon Edwards on Jun 6, 2017 11:12:23 AM

When most businesses think cyber crime, they imagine brute force threats from foreign agents or highly advanced hacker teams. Executives tend to think that external forces well beyond their control make up the vast majority of security loopholes.

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Topics: Cyber Breach, Cyber Risk, Cyber Risk Mitigation, Cyber Security, Phishing Scam

ERM | Monitor, Measure, and Evolve

Posted by Andrew Masini on May 25, 2017 11:12:29 AM

 

In our previous posts on Enterprise Risk Management (ERM), we defined ERM and addressed how to set up the program and use it to assess and treat risks. We have come a long way! In this post, we evaluate the program.

 

ERM is not a static program. An effective approach to evaluating and enhancing the performance is a three-part one: measure, monitor and, most importantly, evolve.

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Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM

The ALS Group

Risk Management Blog

We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe. 

Our areas of expertise include:

  • Enterprise Risk Management (ERM)
  • Cyber Security & Cyber Liability Insurance
  • Construction Management
  • Customized Risk Management Assessments (RMAs)

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