What’s Behind the Counter? Enterprise Risk Management Can Be a Retailer’s Edge

Posted by Andrew Masini on Oct 19, 2016 7:06:42 PM

Enterprise Risk Management (ERM) concepts can help retailers create a competitive advantage out of the business of managing risk. ERM’s “portfolio view” collects all risk and mitigation activity into a single Risk Register. This enables management to coordinate mitigation efforts across functions, rather than leaving risk to be managed in a patchwork fashion among various pockets in the organization. These are the critical areas for retail organizations where embracing an ERM approach adds value and opportunities that would likely otherwise be “missed:”

Read More

Topics: Cyber Breach, Cyber Risk, Data Breach, Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Reputational Risk, Retail Risk Management, Risk management, Risk Management Assessment, Risk Management Blog, Risk Register, Social Media Risk

Supply Chain Risk- How “Wood” You Prevent Your Companies From Being Exposed to a Financial Loss?

Posted by The ALS Group on May 19, 2015 6:03:17 PM

A recent article in the Wall Street Journal highlighted the plight of Lumber Liquidators who has been struggling to deal with the fallout from a scandal that was caused due to the use of formaldehyde in its wood.  You may have seen this on a “60 Minutes” program in early March. If you are a retailer after reading this article and watching the 60 Minutes TV spot you must be asking the question. How well do I know my 3rd party vendors and what  process, if any, does my organization have to contain a similar event?

Read More

Topics: Claims Management, Insurance, Lumber Liquidators, Manufacturing and Distribution, Reputational Risk, Risk management, Risk Management Blog, strategic, Strategic Risk Management, supply chain, Supply Chain Risk, The ALS Group, Total Cost of Risk (TCoR)

How to Prevent Internal Fraud from Crippling Your Organization

Posted by Purnima Rangarajan on Feb 14, 2014 12:18:45 PM

In its 2012 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) found that organizations typically lose five percent of their revenue to fraud each year. Even more frightening is this statistic from that report: the medium loss of survey respondents was $140,000. Over one-fifth of the losses studied exceeded $1 million. Small-to-medium sized businesses are often fraud targets because they lack anti-fraud controls. The smallest organizations in the ACFE study suffered the largest median losses.

Read More

Topics: Employee Dishonesty, Human Capital, Limit of Liability, Reputational Risk, Risk Management Blog, Risk Review, Strategic Risk Management, The ALS Group, Total Cost of Risk (TCoR)

SUPERBOWL –Black Out or White Out? What's “Plan B”?

Posted by The ALS Group on Jan 30, 2014 10:03:42 AM

I’m sure everyone remembers the day the lights went out for 34 minutes during the Ravens/49ers  Super Bowl in 2012. Other than Ray Lewis having some choice words about the outage being more than a coincidence, the effects were minimal. What would have happened if they did not go back on?

Read More

Topics: Property Risk, Reputational Risk, Risk Management Blog, Strategic Risk Management, Super Bowl, Total Cost of Risk, Total Cost of Risk (TCoR), Travel Risk

Citi Bike Data Breach – Is Your Private Information “Secure”?

Posted by Albert Sica on Jul 31, 2013 2:45:51 PM

Think about how many times in the past year you have entered private information onto a website’s “secure” system; your name, credit card information, date of birth, social security number, billing address, mailing address, and/or security questions and answers and that’s how many times you were exposed to identity theft.   Each bit of information you provide online can be used by hackers to steal your identity. A cyber security breach is one of the most dangerous and harmful risks for any company regardless of the size or industry.  As highlighted throughout our Cyber Risk blog series, it is nearly impossible to be 100% protected from cyber criminals.  While having the appropriate insurance coverage is critical, there are other ways to mitigate this risk.  It is just as vital for company leadership to take a strategic view of the risks resulting from a data breach (e.g. reputational, supply chain, etc.)

Read More

Topics: Breach of Security, Cyber Risk, Cyber Security, Enterprise Risk Management, ERM, Reputational Risk, Risk Management Blog, Social Media Risk, Strategic Risk Management, Total Cost of Risk, Total Cost of Risk (TCoR), Travel Risk

Supply Chain Reputational Risks Heightened Amid Recent Worldwide Factory Deaths

Posted by Albert Sica on Jul 17, 2013 1:19:36 PM

A recent Wall Street Journal article about a high profile factory accident, this time in Cambodia, brings new emphasis to the fallout that can arise from supply chain risk. Asics Corporation, the Japanese sport shoe manufacturer, sourced some of its shoes from a factory in Phnom Penh. In April 2013, a mezzanine floor collapse killed a young father and a young woman who, reportedly, was only 15. The incident also injured a number of other workers. Fallout from the incident was almost immediate. Asics instructed its nine suppliers in Cambodia to join Better Factories Cambodia, which keeps tabs on working conditions in the Cambodian garment industry.

Read More

Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, Manufacturing and Distribution, Reputational Risk, Risk Management Blog, Strategic Risk Management, supply chain, Supply Chain Risk, TCoR, Total Cost of Risk

Parental Control Tools Online Can Mitigate Your Risks – Yep, There’s An App For That!

Posted by The ALS Group on Jun 25, 2013 3:18:33 PM

Despite being ripe with positive, useful and educational information, the internet is chock-full of potent dangers, and your children can get into quite a few uncomfortable and, sometimes, dangerous situations whether it is intentional or not. As highlighted in our past blogs on this topic, if you have a standard Homeowners policy, you will likely have little protection from the legal liabilities that can result from inappropriate actions via the internet.

Read More

Topics: Breach of Security, Claims Management, Cyber Risk, Cyber Security, HCP, Human Capital, Human Capital Practice, Personal Lines, Reputational Risk, Risk Management Blog, Social Media Risk

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