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.

Read More

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

Total Cost of Risk (TCoR) – Strategies for Cost Savings

Posted by Albert Sica on Apr 21, 2020 5:03:06 PM


As part of any effective risk management program, the quantification of the Total Cost of Risk (“TCoR”) is an important number to focus on.

This article focuses on how Workers Compensation (“WC”) costs contribute to a company’s TCoR and, specifically, how the Experience Modification (“X-MOD”) factor works and can be managed.

We take TCoR seriously in our risk advisory practice as having a TCoR that is lower than a company’s peers gives that company a competitive advantage in, both, how it conducts its business and the opportunities it can pursue.

Request a copy of Total Cost of Risk (TCoR) – Strategies for Cost Savings, below: 

Read More

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 insurance

Insurance Risk & Rising Premium Rates – Why, & What Can be Done to Change Them

Posted by The ALS Group on Feb 19, 2020 12:53:36 PM

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.

Read More

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

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.

Read More

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

FACC Sues CEO, CFO in Wake of "Fake-President" Fraud

Posted by Jon Edwards on Dec 17, 2018 4:31:17 PM

A new development has occurred in the FACC cyber “fake-president fraud” case.

Read More

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

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.

Read More

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

Certificate of Insurance Compliance: Eliminating the Blind Spots

Posted by The ALS Group on Mar 16, 2017 10:25:09 AM

Errors and even outright fraud in certificates of insurance is a growing problem. We encounter a 70% noncompliance rate on initial documents.

The certificate of insurance compliance function protects a company by ensuring that its contractors have appropriate types and amounts of insurance coverage. The burden of this compliance process is often underestimated.

Read More

Topics: Enterprise Risk Management (ERM), Insurance, Strategic Risk Management, COI Compliance, what is total cost of risk, what is compliance, vendor insurance

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)

Subscribe to Email Updates

Recent Posts

Posts by Topic

see all