Top Risks Every Business Should be Aware of in 2021

Posted by The ALS Group on Dec 22, 2020 2:14:43 PM

This year has been filled with a multitude of both challenges and victories. Every year is different but in 2020 we have had to deal with more change than normal. The business world is evolving quickly, and risk management has been changing along with it. In 2021, a resilient and resourceful approach to risk management will be front and center as businesses navigate the “work from home” landscape, deal with the effects of the pandemic, and change the insurance market for years to come.

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Topics: Risk management, Risk Management Blog, The ALS Group, total cost of risk analysis, top risks, top risks of 2021

The ALS Team Gives Back!

Posted by The ALS Group on Dec 14, 2020 12:27:44 PM

The ALS Team partnered with Bridges of Hope, Staten Island to collect and donate gifts for families who are coping with a particularly difficult holiday season.

Bridges of Hope was started by Grace Murphy in 1998 as a parish social-action outreach effort to create a “bridge” between the community and families in public housing. 

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Topics: The ALS Group, 2020 Holiday Season, Happy Holidays, Bridges of Hope Staten Island, Giving

'Tis the Season ...

Posted by The ALS Group on Dec 7, 2020 12:47:35 PM

The holiday season is once again upon us, and while we would normally be planning a company-wide bash, this year such a thing is pretty much out of the question.  This does not mean you have to skip the celebrations altogether, as celebrating and acknowledging the hard work your team put in, especially during this very challenging year is more important than ever.  So, while traditional holiday parties may be off the table, here are some holiday party ideas to help your team celebrate while remaining COVID-safe:

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Topics: Human Capital, Safety and Compliance, coronavirus, risk management consultant, what is risk management, safe workplace

Thanksgiving 2020 – What are We Thankful for?

Posted by The ALS Group on Nov 19, 2020 12:38:32 PM

As most of this year’s holidays, Thanksgiving is completely different for, pretty much, all of us. This year has certainly tested us all. As risk managers, we usually address risks and suggest mitigation strategies in most of our blogs. This year, however, we decided to look at the positives and think about what we are thankful for during this, strange Thanksgiving holiday.

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Topics: Risk management, Risk Management Blog, The ALS Group, thankful

Dumpster Diving in 2020 – Lost “Art” or New Opportunity…

Posted by The ALS Group on Nov 16, 2020 11:06:13 AM

As most of the workforce continues to work remotely, the “data breach” exposures of yesteryear are still around. I doubt that any of your employees have been issued one of these as part of their “remote work setup”, but as people are settling in to a “new normal” in working from home, printing and reading documents is still prevalent. Only now, the security of that “paper” is often overlooked and can be simply discarded into the kitchen trash which is moved to the curb on garbage pickup days.

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Topics: Human Capital Practice, Human Capital Risk, Total Cost of Risk (TCoR), remote work, what is risk management

Don’t get Buried with Snow Removal – Effective Risk Transfer is Key

Posted by The ALS Group on Nov 5, 2020 11:53:36 AM

With winter just around the corner and many areas already seeing flurries,  this would be a good opportunity to remind everyone of the risks surrounding claims from accidents due to snow and ice. As many companies are considering their snow removal contracts and vendor arrangements, there are a few key points in our latest article that might be helpful.

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Topics: Claims Management, Risk management, Snow Removal, Total Cost of Risk, Workplace Safety, what is compliance

There’s Value in Measuring the Total Cost of Risk (TCoR)

Posted by The ALS Group on Oct 28, 2020 3:26:36 PM

In these challenging economic times, having a lower TCoR can not only give a company a competitive edge, but also improve its bottom line by affording it the ability to pursue opportunities their peers may not be able to.

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Topics: Total Cost of Risk (TCoR), what is total cost of risk, total cost of risk definition, total cost of risk analysis, total cost of risk calculation, cost of risk formula

Halloween 2020 - Just another Set of Risks

Posted by The ALS Group on Oct 19, 2020 12:27:24 PM

Halloween is just around the corner, but thanks to COVID, the traditions of everyone’s favorite spooky holiday are off limits this year.

O.K., so, we aren’t able to host crowded costume parties or have crowds attend the haunted houses people have traditionally set up in their backyards, but can we do anything fun on Halloween this year? What about trick-or-treating, kids’ and, let’s be honest, most of adults’ favorite part of Halloween?

Unfortunately, with the ongoing pandemic, it is a bit more risky than ever before. Each state has put COVID related safety guidelines in place and it is important we stay vigilant especially with all of the Halloween related activities that traditionally occur in the month of October.

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Topics: coronavirus, COVID-19, halloween2020, risks

Ransomware Demands Spike Due to Covid-19 Pandemic

Posted by The ALS Group on Oct 12, 2020 3:21:48 PM

As companies had to quickly pivot and implement a remote work plan (a lot of them did not have such a plan in place) due to the ongoing COVID-19 pandemic, they became more at risk for a cyber attack and/or breach due to the vulnerabilities they did not even know they had. As a result of this there has been an uptick in the success rate of cyber attacks in the United States.

Coalition Inc., a cyber insurance provider, recently released their H1 2020 Cyber Insurance Claims report that noted a decrease in the frequency of ransomware claims however, its policyholders have experienced a 100% increase in average demands from 2019 to the first quarter of 2020, then an increase of 47% from the first quarter to the second.1

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Topics: Cyber Risk, Cyber Security, Ransomware, cyber attacks, COVID-19

Managing Risks and Opportunities

Posted by The ALS Group on Sep 23, 2020 1:25:00 PM

The idea for this blog was conceived by Marshall Ma, who joined The ALS Group as a Risk Management Intern and now provides support on client accounts as Technical Analyst, based on the Chinese ideogram for “crisis”. It just happens that Marshall is fluent in Mandarin and is passionate about risk management. She is an Enterprise Risk Management Graduate and Lecturer at Columbia University. While at Columbia, Marshall spent a lot of time working on campus educating her peers and supporting industry outreach. She also participated in risk assessment and mitigation for the campus’ internal Career Design Lab.

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Topics: Enterprise Risk Management (ERM), Human Capital Risk, Risk management, Risk Management Blog, Total Cost of Risk (TCoR), what is total cost of risk, what is erm, what is risk management, risk management internship

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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