When Construction Shortcuts Become Criminal

Posted by The ALS Group on Apr 20, 2017 4:33:00 PM

Take a casual stroll in Manhattan and you can't help but notice that construction is booming. Cranes, scaffolding, and sidewalk sheds are everywhere. And this isn’t just a New York City phenomenon. Ground-up construction and renovation projects are picking up all across the country. Low interest rates and favorable building conditions are resulting in a surge in real estate & development projects.

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Topics: Construction, Construction Accidents, Construction Project Risk, Construction Workplace Safety, Real Estate & Development Risk, Risk Management Blog, Worker's Compensation

Should You Pay Ransomware? No. Do These 6 Things Instead

Posted by Jon Edwards on Apr 3, 2017 11:06:10 AM

Ransomware strikes. Your critical data files have been encrypted and your business grinds to a halt.

Do you

a) spend countless hours rebuilding from backups (if you were diligent enough to ensure they'll work) or

b) pay the perpetrator to unlock your files?

Now that ransomware is spreading like wildfire through malicious emails, "malvertising" campaigns, and exploit kits, many firms and individuals face this exact scenario.

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Topics: Cyber Risk, Cyber Security, Ransomware, Risk Management Blog

The 10 Fundamentals of a Sound Risk Management Program

Posted by The ALS Group on Feb 28, 2017 9:25:48 PM

More than 80% of companies don’t manage risk effectively. Is yours one of them?

A 2014 survey by a non-profit business research firm found that fewer than 20 percent of executives say their companies effectively manage risk. Companies will often have a process in place to identify and monitor risks. But they fall short when it comes to actually implementing practices to manage those risks as part of the overall strategic plan.

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Topics: Enterprise Risk Management (ERM), Risk Management Blog, Strategic Risk Management, Total Cost of Risk (TCoR)

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!

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

ERM | Risk Assessment Phase One: Risk Identification

Posted by Andrew Masini on Feb 10, 2017 8:59:56 AM

Risk Identification is the first of three phases that make up a Risk Assessment.

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Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Risk Identification, Risk management, Risk Management Assessment, Risk Management Blog

Four Ways to Protect Your Employees’ W-2 Information from Cyber Thieves

Posted by Jon Edwards on Feb 7, 2017 4:17:25 PM

Most companies today opt to distribute their employees’ W-2 tax forms electronically; either through email or some type of download service. Because these forms contain a good deal of Personally Identifiable Information (“PII”), such as name, address, social security number and salary information – cyber thieves are using several simple, yet, tried-and-true methods to fraudulently obtain them.

 

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Topics: Breach of Security, Cyber Breach, Cyber Insurance, Cyber Liability, Cyber Risk, Cyber Security, Data Breach, Ransomware, Risk management, Risk Management Blog

ERM | Risk Appetite and Risk Tolerance: The Path to Informed Decision Making

Posted by Andrew Masini on Feb 1, 2017 12:08:27 PM

In our previous posts in this series, we introduced Enterprise Risk Management (ERM) as a “portfolio view” of risk and discussed various aspects of implementing ERM: roles, culture, a framework and preparing your organization. Now, we’ll begin looking at the “big picture” viewpoint of risk, starting with identifying and prioritizing risks. In the ERM process, management (1) determines acceptable levels of risk, (2) identifies and measures risks throughout the entire organization and aggregates the results, and (3) determines if the aggregated results exceed the acceptable levels. Risk Appetite and Risk Tolerance are the expressions of the “acceptable levels” of risk.

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Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Risk Appetite, Risk Capacity, Risk management, Risk Management Blog, Risk Tolerance

Reviewing Cyber Breach Insurance Coverage | First-Party Costs

Posted by Jon Edwards on Jan 31, 2017 6:02:18 PM

Organizations today must regard cyber breaches not as a possibility, but as an inevitable fact of life. In this environment, it’s crucial to have a cyber liability insurance policy that adequately covers the potential loss and offers payment or reimbursement for response costs. Understanding what’s covered by the policy well before a breach occurs and building that knowledge into your company’s incident response plan is critical.

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Topics: Breach of Security, Cyber Breach, Cyber Insurance, Cyber Liability, Cyber Risk, Cyber Security, Data Breach, Risk Management Blog

2017’s Latest Cyber Security Threat: The Ransomware Bluff

Posted by Jon Edwards on Jan 24, 2017 6:14:09 PM

2016 was a big year for ransomware. It saw a massive increase in ransomware events and payouts to criminals, which, most experts say, only exacerbates the issue.

 

A 2015 report by the Herjavec Group (an Information Security company) noted that the total cost of ransomware reached $1 billion in 2016. With new “strains” of ransomware spreading worldwide (such as the Russian “spora”), we should all be on high alert for this business-impacting cyber threat.

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

Implementing ERM | Preparing Your Organization

Posted by Andrew Masini on Jan 20, 2017 1:30:29 PM

 

In our previous blog posts, we introduced Enterprise Risk Management (ERM) as a strategic discipline that affords a “portfolio view” of risk; outlined how to establish roles and context for ERM implementation; and how to establish a risk-aware culture and develop an ERM framework

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