Supply Chain Risk – What Does the Contract Say?

Posted by The ALS Group on Aug 3, 2020 12:43:13 PM

As companies think about their supply chain and the risks that are inherent with that area, a good place to start is with your contract terms with the supplier – what are the terms you want? What are the terms you have agreed to?

With the unsettling state of affairs of the world today, a manufacturer or distributor has to be properly vetted and the terms of supply carefully considered. What is an acceptable delay or non-delivery? 

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Topics: Compliance, Enterprise Risk Management (ERM), Risk management, supply chain, Total Cost of Risk (TCoR), risk transfer

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

Posted by The ALS Group on Dec 4, 2019 4:52:27 PM

This week’s unexpected snowstorm should be a reminder to be diligent in making sure your snow removal provider has the proper insurance coverage.

With winter almost here, many companies are putting the final touches on snow removal contractor agreements. Liability claims, like slip and falls, relating to the “improper removal of snow and ice”, are frequent, and in many cases, severe. Here are the facts:

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Topics: Bodily Injury, Compliance, Contracts, Enterprise Risk Management, Indemnity, Insurance, Property Risk, Safety and Compliance, Strategic Risk Management

COI Compliance: Do You Sleep at Night?

Posted by Andrew Masini on Jul 24, 2017 1:07:24 PM

There are industries that entail managing insurance compliance among large numbers of vendors/contractors, which challenges even the most organized firm to manage the compliance properly. If done right, it’s a process which requires diligence and specialized knowledge:

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Topics: Compliance, Construction, Contracts, Coverage Review, Enterprise Risk Management, Indemnity, Real Estate & Development Risk Management, Risk Mitigation, Third-Party Risk, COI Compliance, certificate of insurance, total cost of risk analysis, total cost of risk insurance

Is Your Insurance Compliance Fact or Fiction?

Posted by The ALS Group on May 10, 2017 10:49:00 AM

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:

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Topics: Compliance, Insurance Coverage Placement, Insurance Coverage Selection

A Contract Compliance Framework Can Reduce Risk

Posted by Albert Sica on Feb 12, 2014 9:43:00 AM

Monitoring insurance compliance in contracts is an important, albeit challenging, risk mitigation strategy. Read Al Sica’s recent article on the subject posted on Construction Executive Magazine website.

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Topics: Compliance, Enterprise Risk Management, Total Cost of Risk (TCoR), COI Compliance

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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