What Makes an ERM Program a Success?

Posted by The ALS Group on Dec 3, 2013 3:15:18 PM

I recently attended the Enterprise Risk Management Roundtable Summit in North Carolina held by NC State University that included representatives from Harley Davidson and Caterpillar among  the speakers. This summit helped me gain insight into the emerging importance of a comprehensive risk management program and different strategies the companies have implemented.

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Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, Risk Committee, Risk Management Assessment, Risk Management Blog, Strategic Risk Management, TCoR, The ALS Group, Total Cost of Risk, Total Cost of Risk (TCoR)

Premises Liability

Posted by Albert Sica on Sep 27, 2013 1:17:37 PM

The-ALS-GROUP-PROPERTY-LIABILITY.jpeg

Jury verdicts for premises liability against those who own or manage land, stores, taverns, shopping malls and apartment complexes just keep climbing. A few California verdicts include a $7.5 million judgment after a chiropractor slipped and fell in a Starbucks and a $55 million verdict for a gang-related shooting against a security company that oversaw on-site safety at an apartment complex.

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Topics: Claim Reporting, Claims Handling, Claims Management, Construction, Limit of Liability, Property Risk, Real Estate, Risk Management Blog, Strategic Risk Management, Total Cost of Risk (TCoR)

New Commercial Property Endorsement Can Mean Problems for Landlords

Posted by Albert Sica on Sep 5, 2013 2:45:26 PM

Each week, landlords and authorities discover 300 methamphetamine labs in the United States, according to National Public Radio. If you own apartments, rent hotels or run boarding homes, you may run into a tenant who decides your rental properties are a great place to cook meth. Better check your commercial property policy now, because recent changes in commercial property insurance coverage forms may significantly restrict coverage for the resultant clean-up from meth “cooking” operations.

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Topics: Construction, Political Risk, Property Risk, Real Estate, Risk Management Blog, Strategic Risk Management, TCoR, The ALS Group, Total Cost of Risk, Total Cost of Risk (TCoR)

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.)

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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

Map Out Your Risk - Beware of High Hazard Flood Zones

Posted by Albert Sica on Jul 25, 2013 8:58:42 AM

Real estate is one of the most important assets one can have regardless of owning personally or as a business entity. As they say, it’s all about location, location, location – so you better know exactly what risks you are going to be exposed to when looking to purchase new property or simply evaluating your current location(s). In the aftermath of Superstorm Sandy the scrutiny of flood insurance policies is at an all-time high, particularly, in the northeast. When assessing the value of any new or current property and the insurance requirements and costs that come with it, understanding where it is in relation to local flood zones is critical.

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Topics: Flood, Flood Zone, Political Risk, Property Risk, Risk Management Blog, TCoR, Total Cost of Risk, Total Cost of Risk (TCoR)

Human Error and Enterprise Risk Management

Posted by The ALS Group on Jun 18, 2013 9:45:14 AM

When evaluating your company’s risks, one concept that is frequently overlooked is the idea of how human error could impact your organization.  Until recently, there has been very little written on this subject. However, in the recent issue of the RIMS Risk Management Magazine, an article by Tony Kern and David McKay touched on this point and successfully demonstrated how human error is one risk that companies must continually monitor.

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

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

Fortune Telling: Can You Predict Your Organization's Future Talent Pool?

Posted by The ALS Group on May 23, 2013 4:07:27 PM

While none of us can predict the future, we do not need a crystal ball to tell us that as the Baby Boomers retire in the next decade, there will be a mass exodus of talented and experienced employees leaving the workforce.  What does that mean to you, as one of the leaders of your organization?  Do you see the exodus of the “Boomers” as an opportunity to reduce your labor and health care cost, or, are you concerned that the “War for Talent” will lead to a bidding war with compensation costs spiraling out of control?  One thing is certain, organizations that do not begin developing their talent management systems now will be susceptible to being negatively impacted in the very near future.

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

Social Media – Risk vs. Reward

Posted by Albert Sica on May 16, 2013 2:43:17 PM

One of the most prominent areas of marketing today involves social media.  Right now you are reading this posting via an on-line platform and, while this is becoming the norm, the risks social media brings are far from “normal”.

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Topics: Cyber Risk, Cyber Security, Risk Management Blog, Social Media Risk, Total Cost of Risk, Total Cost of Risk (TCoR)

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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