As the Covid related restrictions are being lifted and we are slowly returning to our pre-pandemic routines, we are all looking forward to celebrating Independence Day.
Fireworks are a staple of Fourth of July celebrations in the United States, and while some small towns are still scaling back their professional fireworks displays, Macy's Fourth of July Fireworks on the East River are back in full force. People are gathering again for cookouts in their backyards, parks and beaches to barbecue and put on their own firework displays.
The ALS team is celebrating our first Independence Day in our new home and, as always, our mindset is that of mitigating risks. To that end, we wanted to share some important points on the fireworks safety.
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Topics:
Risk Management Blog,
Risk Mitigation,
Safety and Compliance,
COVID-19,
homeowner's insurance,
Independence Day
Notaries are essential. You may know one or may be one yourself, and chances are, you will need one in the course of your life. There has been some form of a Notary Public in Ancient Egypt, proving that this job has been universally agreed upon as a noble public service undertaking for thousands of years.
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Topics:
Enterprise Risk Management (ERM),
Risk Mitigation,
Strategic Risk Management,
notary public,
Notary Risks
Fireworks are a staple of Fourth of July celebrations in the United States, and many towns put on their own professional fireworks displays which are monitored for safety by local fire departments. This year, many of these have been cancelled due to the pandemic, but people still want to celebrate, and many take it upon themselves to set off the fireworks at home.
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Topics:
Risk Management Blog,
Risk Mitigation,
Safety and Compliance,
COVID-19,
homeowner's insurance,
Independence Day
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.
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Topics:
business,
Insurance,
Risk Mitigation,
The ALS Group,
Total Cost of Risk (TCoR),
catastrophic loss,,
what is total cost of risk,
total cost of risk definition,
total cost of risk analysis,
total cost of risk insurance
A new development has occurred in the FACC cyber “fake-president fraud” case.
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Topics:
Cyber Insurance,
Cyber Risk Mitigation,
Cyber Security,
Phishing Scam,
Risk management,
Risk Mitigation,
Total Cost of Risk (TCoR),
cyber attacks,
what is total cost of risk,
ceo scams,
cfo scams,
ceo fraud,
what is risk management
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
“US Executive Working Abroad Faces Charges Related to Protection Scam and Bribery”
This headline means much more than embarrassment for the American company in its overseas operations. It means exposure to enormous financial liability if the foreign court finds the executive culpable, along with associated defense costs, even if the court finds the executive innocent of the charges.
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Topics:
Business Abroad,
Risk Management Blog,
Risk Mitigation
