6 Strategies to Mitigate Cyber Risk in the Healthcare Sector

Posted by Jon Edwards on Apr 18, 2017 1:48:19 PM

 

The healthcare sector is without a doubt one of the most targeted industries for cyber hackers. Different industries have different types and degrees of cyber risk exposure. But hackers and malicious campaigns take aim at the healthcare sector in particular due to the private nature and black market value of the data.

 

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Topics: Cyber Breach, Cyber Liability, Cyber Risk, Healthcare, Healthcare Data Breach, Healthcare Risk Management, cyber attacks

Ransomware Events are on the Rise | Protect your Networks Now (Part 1)

Posted by Jon Edwards on Aug 23, 2016 4:19:14 PM

The U.S. Department of Justice stated that “More than 4,000 ransomware attacks have occurred daily since January 1, 2016. This is a 300 percent increase over the approximately 1,000 attacks per day seen in 2015.”

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Topics: Breach of Security, Cyber Breach, Cyber Liability, Cyber Risk, Cyber Security, Data Breach, Healthcare, Ransomware, Retail, Risk Management Blog

Out of Pocket Limits Changes Begin in 2014

Posted by The ALS Group on Jun 27, 2013 2:39:50 PM

In employers’ 2014 plan year, all companies must ensure their non-grandfathered plans adhere to a single out of pocket (OOP) maximum for their employee’s health care plan expenses. This requirement applies to both fully insured and self-insured plans. Going forward, the OOP limit must include all spending on medical, prescription drugs and both mental health and substance abuse treatment benefits. Actuarial estimates indicate this change could increase employer health care costs between 1.5% and 2% next year.

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Topics: HCP, Healthcare, Human Capital, Human Capital Practice, Political Risk

Wellness Plans – Don’t Throw the Baby Out With the Bath Water

Posted by The ALS Group on Jun 19, 2013 3:55:07 PM

Many of today’s employers offer robust wellness programs, which, typically, offer employees incentives for certain types of behaviors in an effort to improve health and, ultimately, reduce employer medical costs. These rewards can include premium discounts, membership in gyms and cash.

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Topics: HCP, Healthcare, Human Capital, Human Capital Practice, Political Risk, Risk Management Blog

Preventive Care Under The PPACA May Increase Your Health Care Costs

Posted by The ALS Group on Jun 11, 2013 12:51:13 PM

 

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Topics: HCP, Healthcare, Human Capital, Human Capital Practice, Political Risk, Risk Management Blog, Strategic Risk Management, TCoR, Total Cost of Risk, Total Cost of Risk (TCoR)

Construction and Certificates of Insurance - Are You Covered?

Posted by Albert Sica on Jun 6, 2013 2:30:38 PM

One of the most commonly found clauses in any construction contract is the requirement of one party to name another party as an additional insured. It is found in The American Institute of Architects (AIA) documents, the Consensus DOCS, and was inserted in almost all manuscript agreements.

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Topics: Claim Reporting, Claims Handling, Claims Management, Claims Management Process, Construction, Construction Accidents, Healthcare, Human Capital, Real Estate, Risk Management Blog, Strategic Risk Management, Total Cost of Risk, Total Cost of Risk (TCoR), Worker's Compensation

ACA-Related Whistleblower Claims

Posted by The ALS Group on Jun 5, 2013 12:19:18 PM

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Topics: Claim Reporting, Claims Handling, Claims Management, HCP, Healthcare, Human Capital, Human Capital Practice, Risk Management Blog, Worker's Compensation

Employers Beware of the Rising Health Care Costs

Posted by The ALS Group on Apr 25, 2013 7:56:41 PM

Employers should be concerned about the possibility of higher health care costs in 2014. Depending on the industry, some employers may be hit with premium increases and could possibly see penalties. For instance, employers in the hospitality sector such as retail and restaurant industries could see average increases of 60 percent in their health care costs. According to a report last month from the Society of Actuaries, the reasons for these increases are being attributed to the greater use of health care services by individuals who had previously had no coverage, and they further predict that the claims costs could increase by another 32% as early as 2017.

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Topics: HCP, Healthcare, Human Capital, Human Capital Practice, Risk Management Blog

Long-term Care Insurance – Not All Policies Are Created Equal

Posted by The ALS Group on Mar 28, 2013 6:33:51 PM

Many Baby-Boomers have helped one or more of their parents with the difficult emotional and financial decisions related to long-term continuing care.  While Medicare covers skilled nursing care, it does not pay for continuing care in nursing homes or assisted-living facilities.  Nor does Medicare pay for home attendants, who provide personal care, such as bathing and dressing, which can easily cost $500 or more a day.  In response to their financial advisor’s recommendations and their involvement with their parent’s experience(s), many “Boomers” have purchased long-term care insurance to cover a significant percentage of these costs.

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Topics: HCP, Healthcare, Human Capital, Human Capital Practice, Risk Management Blog

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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