Back to School: Are you InSUREd?

Posted by The ALS Group on Aug 24, 2020 2:33:07 PM

As September approaches, college students are collecting textbooks, polishing up their class schedules, and shopping for that perfect dorm room setup. Insurance is probably not the first thing on their minds. Unless - you are a Risk Management undergrad at Temple University. ALS Intern, Jason Glickstein, outlines why insurance should be on every college students’ back to school checklist.

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Topics: Personal Cyber Risk, Property Risk, Risk Management Blog, Total Cost of Risk, homeowner's insurance

Preparing your Business for Atlantic Hurricane Season

Posted by The ALS Group on Aug 11, 2020 6:22:27 PM

Hurricane Isaias hit the East Coast last week, causing damage and destruction in its path to both communities and businesses. Trees have fallen, houses where many are working remotely have been left without internet access, and businesses have been stripped of electrical power and with it the ability to function in the capacity they have been accustomed to in the last few months as their staff adapts to the “new normal.”

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Topics: named storm/named windstorm, Risk Management Blog, The ALS Group, Total Cost of Risk, business continuity plan, hurricane season, preparedness, hurricane

'Tis The Season to be Jolly…

Posted by Albert Sica on Dec 13, 2019 11:14:38 AM

 

We have all heard that phrase before, and now that Thanksgiving has passed it will be a sprint to New Year’s Eve – surely, with a few holiday parties in the middle. This is when companies often are not thinking about the risks that come with partying employees, liquor, music, dancing and potentially driving. Certainly sounds like a volatile mix!

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Topics: Holiday Risk, Liability, Risk management, Safety and Compliance, Strategic Risk Management, Total Cost of Risk

Hospitality Industry Challenges & Risks

Posted by Nick Sica on Mar 25, 2019 3:34:40 PM

As the Hospitality industry continues to experience growing activity amidst a strong economy, there are, inherently, challenges that must be continuously addressed and improved on to ensure customers keep coming back. Identifying challenges and solutions to those challenges is one aspect of avoiding pitfalls, but an often overlooked perspective is the risk(s) to which those challenges could, ultimately, lead.

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Topics: Claim Reporting, Human Capital Risk, Insurance, The ALS Group, Total Cost of Risk, COVID-19, total cost of risk analysis, hospitality risks, what is risk management, hospitality industry

Faulty Work & Claims Reporting

Posted by Albert Sica on Mar 6, 2019 10:22:10 AM

I came across an interesting case that illustrates how critical it is to properly notice a “downstream party” of a claim (or potential claim) and require proof that notice was filed with their insurer.

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Topics: Claim Reporting, Claims Handling, Claims Management, Claims Management Process, Risk Management Assessment, Total Cost of Risk, Total Cost of Risk (TCoR), what is total cost of risk, total cost of risk definition

Enterprise Risk Management | Monitor, Measure, and Evolve

Posted by Andrew Masini on May 25, 2017 11:12:29 AM

In our previous posts on Enterprise Risk Management (ERM), we defined ERM and addressed how to set up the program and use it to assess and treat risks. We have come a long way! In this post, we evaluate the program.

ERM is not a static program. An effective approach to evaluating and enhancing the performance is a three-part one: measure, monitor and, most importantly, evolve.

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Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, Total Cost of Risk, Total Cost of Risk (TCoR), what is total cost of risk, total cost of risk definition, what is erm, erm insurance

The Battle Between "Blanket" Additional Insured Endorsement and the Underlying Contract

Posted by The ALS Group on Apr 7, 2015 2:21:47 PM

The construction and real estate industry continue to grow and so do the risk exposures from a fundamental inconsistency between a contract’s commercial intent and insurance policy language. “Additional Insured” is a very common requirement in a real estate or construction contract and many times there is a distinct lack of specificity with what is, actually, being required and why the provision is appropriate.  Additional Insured status provides vicarious liability coverage to an outside entity, usually, an owner or general contractor, under the subcontractor’s policy. It is often a requirement in construction contracts, and it can be the source of insurance disputes if not handled correctly given the changes in the regulatory framework of today’s insurance policies.

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Topics: Construction, Construction Accidents, Construction Premiums, Construction Project Risk, Insurance, Limit of Liability, Property Risk, Real Estate, Risk management, Risk Management Blog, Strategic Risk Management, The ALS Group, Total Cost of Risk

Defense Costs – In Addition to My Limits?

Posted by The ALS Group on Mar 24, 2015 2:13:16 PM

One of the areas often overlooked, but vital to an insured, is the defense costs coverage a liability policy provides. As some insureds may be aware, there are two types of defense costs payments, those policies that pay “in addition” to the limits and those whose payments are “within” the policy limits.

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Topics: Construction Project Risk, defense costs, Employment Practices, Fiduciary, General, Liability, Limit of Liability, Risk management, Risk Management Blog, Strategic Risk Management, Total Cost of Risk

What is Total Cost of Risk?

Posted by The ALS Group on Apr 24, 2014 12:20:41 PM

What is Total Cost of Risk and why should I care?

“What gets measured…gets managed!” This statement is the fundamental principle behind the concept of “Total Cost of Risk” (TCoR), and I’ve been saying this for years. The question that I am asked all the time is, “what is total cost of risk (TCoR) and why do I care about it?”

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Topics: TCoR, Total Cost of Risk, Total Cost of Risk (TCoR)

SUPERBOWL –Black Out or White Out? What's “Plan B”?

Posted by The ALS Group on Jan 30, 2014 10:03:42 AM

I’m sure everyone remembers the day the lights went out for 34 minutes during the Ravens/49ers  Super Bowl in 2012. Other than Ray Lewis having some choice words about the outage being more than a coincidence, the effects were minimal. What would have happened if they did not go back on?

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Topics: Property Risk, Reputational Risk, Risk Management Blog, Strategic Risk Management, Super Bowl, Total Cost of Risk, Total Cost of Risk (TCoR), Travel Risk

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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