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 

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.

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.

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.

For the last several years Allianz has published a concise and informative report on the top risks that businesses face globally. It is a great opportunity to think about how these risks could affect your business operations and what the impact would be. When thinking about risk, it is important to think about "materiality" and what "financial impact" would be material for your company to cause a disruption. Even through many of the risks on this year’s report are readily insurable, the "disruption factor" of having to manage through a loss is worth considering.

Site Security

Protecting a Project’s assets is at the top of the list for most Developers and Lenders these days. Whether it be finances, property, or business, setting up some type of a security blanket for your project assets always adds additional comfort to the certainty of the project and desired outcomes. Most of the time these everyday risks can be covered through insurance; but what do you do when you are faced with protecting a growing (maturing) asset?

Obtaining the clarity with both a contract and the related insurance compliance has turned into one of the more daunting tasks for "upstream" counter-parties such as Landlords, Owners, etc. When reviewing vendor contracts there are several issues that Landlords, Owners, etc. should be mindful of, such as:

3.5 million workplaces celebrate Take Our Daughters and Sons to Work Day in the United States, is yours one of them?

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.

In our latest posts on Enterprise Risk management (ERM), we addressed the three phases of Risk Assessment: Risk Identification and Risk Analysis and Risk Evaluation. In this post, we turn our attention to Risk Treatment.