Albert Sica

Recent Posts

COVID Claims – Notify, Notify, Notify…

Posted by Albert Sica on May 13, 2020 11:54:13 AM

As the effects of COVID-19 continue to impact businesses, it will, surely be an uphill battle to have insurers confirm coverage under most standard insurance policies. Ultimately, a flurry of litigation and government intervention will determine how insurers deal with the losses that their insureds are suffering and will continue to experience stemming from this disaster.

Over the next few weeks and months (maybe years), as these claims unfold, insurers will be faced with the task of interpreting policies and informing their insureds how coverage will or won’t respond. In the meantime, there are some things a business can do to preserve their position with potential COVID-19 claims.

Read More

Topics: Claims Management, Claims Management Process, Strategic Risk Management, pandemics, COVID-19, risk management consultant

Total Cost of Risk (TCoR) – Strategies for Cost Savings

Posted by Albert Sica on Apr 21, 2020 5:03:06 PM


As part of any effective risk management program, the quantification of the Total Cost of Risk (“TCoR”) is an important number to focus on.

This article focuses on how Workers Compensation (“WC”) costs contribute to a company’s TCoR and, specifically, how the Experience Modification (“X-MOD”) factor works and can be managed.

We take TCoR seriously in our risk advisory practice as having a TCoR that is lower than a company’s peers gives that company a competitive advantage in, both, how it conducts its business and the opportunities it can pursue.

Read More

Topics: Claims Management, Enterprise Risk Management, Insurance, Risk management, Risk Mitigation, Total Cost of Risk, Total Cost of Risk (TCoR)

The ALS Group's Initiative for the Prevention of Suicide in the Construction Industry

Posted by Albert Sica on Apr 17, 2020 2:53:13 PM

Yesterday, the Governor of New York announced that he was going to extend the Coronavirus shutdown order until May 15th, which, although necessary from a health standpoint, adds additional pressure to many people who need to get back to work. One of the areas that is hit very hard by this shutdown is the construction industry. According to the Centers for Disease Control and Prevention, construction occupations are at the second highest number of suicides across all occupational groups, an alarming statistic to say the least.

Read More

Risks of Working from Home and Workers' Compensation Policy

Posted by Albert Sica on Mar 3, 2020 12:44:23 PM

As Coronavirus spreads worldwide, companies are thinking of ways to keep productivity up, as well as, mitigate the risks to both their employees and the organization’s bottom line. One of the ways a company can manage this is to have its employees work from home. This can be a great way to keep your business running, but only if you can identify and manage the risks involved. This article from Insurance Business America does a great job in outlining potential Workers’ Compensation risks for employees who work from home, and what you can be doing to insure your business is prepared to manage those risks.

Read More

Topics: Strategic Risk Management, Worker's Compensation, COVID-19, risk management consultant

'Tis The Season to be Jolly…

Posted by Albert Sica on Dec 13, 2019 11:14:38 AM

 

We have all heard that phrase before, and now that Thanksgiving has passed it will be a sprint to New Year’s Eve – surely, with a few holiday parties in the middle. This is when companies often are not thinking about the risks that come with partying employees, liquor, music, dancing and potentially driving. Certainly sounds like a volatile mix!

Read More

Topics: Holiday Risk, Liability, Risk management, Safety and Compliance, Strategic Risk Management, Total Cost of Risk

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.

Read More

Is your insurance compliance fact or fiction?

Posted by Albert Sica on May 10, 2017 10:49:00 AM

Obtaining the clarity with both a contract and the related insurance compliance has turned into one of the more daunting tasks for "upstream" counter-parties such as Landlords, Owners, etc. When reviewing vendor contracts there are several issues that Landlords, Owners, etc. should be mindful of, such as:

 

Read More

Topics: Compliance, Insurance Coverage Placement, Insurance Coverage Selection

10 Quick and Easy Ways to Boost Workplace Safety

Posted by Albert Sica on Apr 13, 2017 11:13:31 AM
Read More

Topics: Bodily Injury, Construction, Construction Workplace Safety, Human Capital, OSHA, Workplace Safety

Customer Identity Theft: Implications & Prevention Measures

Posted by Albert Sica on Apr 11, 2017 4:05:17 PM

 

Identity theft is the fastest growing crime in the United States. Each year, more than 15 million Americans fall victim. It’s also the number one consumer complaint received by the Federal Trade Commission.

Read More

Topics: Cyber Insurance, Cyber Risk, Cyber Risk Mitigation

Does Your Snow Removal Provider Have Proper Insurance Coverage?

Posted by Albert Sica on Feb 14, 2017 12:06:01 PM

 

Liability claims related to improper removal of snow and ice are frequent, and in many cases, severe. Many of the claims originate from elderly people sustaining injuries from slips and falls from which they never fully recover. In other words … BIG CLAIMS!

Read More

Topics: Property Risk, Risk management, Risk Management Blog, Snow Removal

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)

Subscribe to Email Updates

Recent Posts

Posts by Topic

see all