The ALS Group

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Celebrating the Fourth of July at Home

Posted by The ALS Group on Jul 2, 2020 10:05:42 AM

Fireworks are a staple of Fourth of July celebrations in the United States, and many towns put on their own professional fireworks displays which are monitored for safety by local fire departments.  This year, many of these have been cancelled due to the pandemic, but people still want to celebrate, and many take it upon themselves to set off the fireworks at home. 

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Topics: Risk Management Blog, Risk Mitigation, Safety and Compliance, COVID-19, homeowner's insurance, Independence Day

Contracts and Additional Insureds – Do You Really Have Protection?

Posted by The ALS Group on Jun 23, 2020 12:19:46 PM

Recently, I came upon an interesting (albeit disturbing) example of how generic insurance obligation language in a contract left the Landlord without Additional Insured protection from their contractor.

In the case of Seven Up Realty vs AJ Greenwich Contracting, the contract that Seven Up had with Greenwich did not REQUIRE Greenwich to name Seven Up as an Additional Insured on their General Liability or Umbrella. Not only is this a requirement of coverage, but we suggest, that the actual form of Additional Insured endorsement be specified, especially if the Landlord is expecting Additional Insured coverage for ongoing AND completed operations. Nevertheless, whoever drafted and reviewed Seven Up’s contract did not incorporate this language. 

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Topics: Claims Management, Claims Management Process, Contracts, Coverage Review, Insurance, Risk Management Blog, COI Compliance, risk transfer

The Transition into the “New Normal”

Posted by The ALS Group on Jun 16, 2020 1:40:11 PM

As we are “flattening the curve” and the economy is slowly opening, employees will start to transition back to the office after nearly four (4) months of working from home. The COVID-19 pandemic forced many organizations to close and, those that did not have a disaster recovery/business continuity plan in place had to scramble to come up with a “work from home” solution in order to keep their business running while keeping their employees safe and healthy. Such “on the fly” solutions can cause serious complications as employees return to the office, and company leadership realizes that they must adjust their risk strategies to suit the “new normal”.

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Topics: Enterprise Risk Management, Total Cost of Risk (TCoR), pandemics, COVID-19, business continuity plan

Will Homeowner’s Insurance Cover a Cyber Attack on Your Personal Information?

Posted by The ALS Group on Jun 8, 2020 1:17:32 PM

These days, with most of us stuck at home and doing the majority of shopping and banking online, the risk of cyber criminals hacking into our networks to get to our bank accounts and/or personal information is greater than ever. While we have made considerable advances in cyber-security, so have the cyber criminals which is one of the reasons we are starting to see insurance policies that protect personal information in the event of a breach.

The market for this type of insurance is still new, but it can be quite inexpensive to add cyber protection to homeowner’s policy if the insurer who wrote the policy provides it. 

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Topics: Cyber Insurance, Cyber Risk Mitigation, fraud, homeowner's insurance

Prepare Your Business for the 2020 Atlantic Hurricane Season

Posted by The ALS Group on Jun 3, 2020 2:07:09 PM

The 2020 Atlantic hurricane season is expected to run from June 1st to November 30th. Department of Atmospheric Science at Colorado State University predicted that the East Coast of the United States is likely to see a major hurricane, ranking at a category 3, 4, or 5, during the 2020 Atlantic hurricane season. High category named storms bring on damages like, floods, wind damage, and power failure which may take several weeks to recover from. Though these predictions are not precise, we believe, that informed preparation is the best way to avoid costly claims, not unlike those caused by Hurricane Sandy in 2012.  

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Topics: Enterprise Risk Management, named storm/named windstorm, Total Cost of Risk (TCoR), hurricane season

For Mental Health Awareness Month – Review your Wellness Plan

Posted by The ALS Group on May 18, 2020 12:06:12 PM

As May is Mental Health Awareness Month, we wanted to raise awareness of a cause that while is a very significant issue, has not been brought to the forefront when speaking about either mental health or human capital risks. 

According to the Centers for Disease Control and Prevention construction occupation has the highest rate of suicide across all careers.

Senior leadership of an organization, which incorporates strategic risk management into their business plan, knows that having a wellness plan in place for their employees is essential. Implementing a robust wellness plan in the workplace encourages healthy activities among employees and puts the emphasis on safety which, in turn, will lead to healthier, happier and more productive employees.

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Topics: Construction, Total Cost of Risk (TCoR), risk management consultant, wellness plan

The Challenges of Working Moms

Posted by The ALS Group on May 11, 2020 8:23:20 AM

Our blogs usually address specific risk related topics, but as we celebrated Mother’s Day on Sunday, we wanted to dedicate this one to all the amazing moms who are there for their families and organizations as well as address some of the challenges they face.   

Most of us have experienced and continue to experience a drastic shift in our daily lives when the country began its COVID-19 fight a few months ago. There is one group, however, that has been particularly and profoundly impacted by the lock-down even more than the rest and that is working moms. 

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Managing People Risk during Pandemic

Posted by The ALS Group on May 4, 2020 12:14:00 PM

As the Coronavirus Pandemic unfolds, one primary concern for all organizations is people. How to care for its workforce during pandemic and nurture a healthy workforce post-pandemic has become a trending topic. We recently shared what we, as the organization’s leaders, do to care for our own remote working employees as they face the challenges brought on by this pandemic.  COVID-19 is people related crisis and all risks relating to employees i.e. people risk is the one thing that keeps Senior Leaders up at night. After all, a company’s most important asset is its people.  It is a tough time for companies and individuals, alike, due to uncertainty and threats to business operations, both, during and post pandemic. 

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Types of COVID-19 Phishing Scams That Are Circulating Right Now

Posted by The ALS Group on Apr 13, 2020 4:24:14 PM

As a follow up to our previous article on the subject of Cyber Security During a Pandemic, we thought we’d share with you some of the topics used in phishing scams, so that you are better prepared, should you become the target of one.

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Topics: Cyber Risk, Cyber Security, Data Breach, Phishing Scam, COVID-19, risk management consultant

Insurance Risk & Rising Premium Rates – Why, & What Can be Done to Change Them

Posted by The ALS Group on Feb 19, 2020 12:53:36 PM

Three Questions for Managing Principal, Albert Sica, of The ALS Group

For the last 12-18 months commercial insurance rates have been rising and many business leaders are ill-equipped to either understand why or what they can do about it. Recently, this was captured in a good article in The Wall Street Journal and we thought we would explore this a bit more.

Business leaders often rely on a broker, whose primary role is to “sell” insurance to guide them through a complex mix of their company’s exposures, insurance policy language (including exclusions) and what can be done to, both, mitigate risk and the cost of coverage. Understanding the financial impact of a risk on a company’s balance sheet or earnings statement and what can be done to protect against that uncertainty is key to complex questions it is now essential to explore.

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Topics: business, Insurance, Risk Mitigation, The ALS Group, Total Cost of Risk (TCoR), catastrophic loss,

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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