Albert Sica, our Managing Principal, participated in an interactive panel discussion on a critical and trending topic, “Professional Liability Litigation and Reputation Risk.” Mr. Sica and his fellow panelists provided their thought leadership to attorneys and insurers involved in representing professionals in malpractice actions at the DRI Professional Liability Conference, on December 8, 2016, in New York, NY.
Mr. Sica and his fellow panelists Jonathan Ziss, Partner at Goldberg & Segalla and China Ladner of Nationwide E&S Specialty Professional Claims used real-life scenarios to demonstrate the correlated, but distinct relationship between litigation and reputational risks.
Brand and product reputation are important for most businesses, but particularly so for professional services organizations. Albert noted that in today’s world of digital and social media, a company’s brand reputation can be irreparably damaged in a matter of hours, sometimes minutes. He further noted, “It is of paramount importance for defense counsel to assemble and manage the team needed to mitigate this risk in a proactive fashion, including the insured, the insurer, any external entities and counsel.”
The interactive panel discussion focused on such key factors as:
According to Mr. Sica, “The discussion resulted in a number of key insights and consensus, one of which the need of the defense counsel to become part of the team, captain the ship, and take and appreciate a commercial view of the insured and claim.”
Furthermore, Mr. Sica and his fellow panel discussion leaders agreed on the importance of taking a proactive approach to claims where insured, defense counsel and insurer are aligned. They also concurred that it is equally useful to take a proactive view of risk, so the insurer’s risk profile and risk appetite are clear.
Jonathan Ziss has recently authored a paper, “Professional Liability Litigation and Reputation Risk,” which was featured in The Voice, DRI’s online newsletter.
For more information on how we can help your organization take a proactive approach to managing reputational risk, or to request Albert Sica to speak at your upcoming event, please click here.
Albert Sica, our Managing Principal, has been invited to speak at the DRI Professional Liability Conference, being held December 8-9, 2016, in New York, NY. DRI is a leading organization of defense attorneys and in-house counsel.
Mr. Sica will participate as a select member of an interactive panel discussion focused on elevating awareness and sensitivity of reputation risk, and discuss insurance solutions and other new tools to mitigate such risk for clients.
Al will be joined by fellow panelists Jonathan Ziss, Partner, Goldberg & Segalla LLP, and China Ladner, Nationwide E&S Specialty Professional Claims.
The paper submitted on their topic, “Professional Liability Litigation and Reputation Risk,” authored by Mr. Ziss, was selected as “This Week’s Feature” on The Voice, DRI’s online newsletter.
Here’s a quick snapshot of some of the topics to be addressed during the panel discussion:
• Crisis planning and a public relations disaster plan as an essential component of a client’s risk management program.
• What are the roles of outside counsel and the claims professionals?
• How can the internal client team and external legal team coordinate?
• How do you identify and mange divergent interests regarding information disclosure to mitigate insurance risk and avoid reputational harm?
Stay tuned for a recap of the discussion and insights.
There is a direct relationship between strong risk management practices and a company’s performance. At The ALS Group, we firmly believe in this.
Albert Sica, our Managing Principal, was recently quoted in the Risk & Insurance article “Looking at Risk Three Dimensionally”. Read the full article which is available now on the Risk & Insurance website, here.
See you in Las Vegas! The ALS Group is pleased to announce that we’ll be attending the 35th annual International Risk Management Institute (IRMI) Construction Risk Conference.
We’ll be joining some 1,500 project owners, developers, and other construction professionals at this industry-leading convocation to keep track of new trends and technologies, make new acquaintances, and touch base with old ones.
Will you be at IRMI? Contact us so we can arrange to see you while we’re there.
The IRMI Construction Risk Conference will be held in Las Vegas, November 8-11, 2015.
The ALS Group is pleased to announce that it has provided valuable assistance to prestigious New York-based developer L&L Holding Company with its recent historic transaction to build a $1.1 billion office tower on Park Avenue in midtown Manhattan. [Read full press release].
On June 10th, The ALS Group attended the groundbreaking ceremony for the historic tower. Below are several pictures from the event.
The Above and Beyond Award is given to those ALS team members who have gone above and beyond the call of duty to provide outstanding service to our clients and have undertaken new responsibilities with a “can-do” attitude. The 2014 award was presented to Lindsey Hoffman, Senior Analyst. Throughout her career at ALS and, particularly, in 2014 Lindsey has demonstrated dedication to servicing ALS clients and commitment to the Firm.
“I truly enjoy the dynamic environment devoted to the personal and professional growth that The ALS Group provides.” Lindsey said.
On December 19th in the spirit of giving to the community The ALS Group donated new, unwrapped toys to Toys for Tots of Central New Jersey to be distributed as Christmas gifts to children in the community with families that do not have the financial resources to purchase Christmas presents.
We sincerely thank CWO 4 Nick D’ Andrea, USMC for the certificate presented to The ALS Group. The staff and leadership of The ALS Group strongly believe in giving to the community especially during the holiday season.
On December 1st The ALS Group contributed over 75lbs of food to the Community Food Bank of New Jersey. This is a wonderful organization that comes to the aid of those in need and our firm believes in the motto to “pay it forward”! There’s nothing better than helping any time of year, but during the holidays thinking of others is paramount.
Beth Aiena, Lindsey Hoffman and Irina Lendensky of The ALS Group attended the Women of Leadership event at Basking Ridge Country Club on Thursday, November 13. The event was sponsored by the New Jersey chapter of the Association for Corporate Growth (ACG).
The evening featured networking opportunities with other professional women and leadership training from Erica Peitler, a well-regarded leadership and performance coach and author of Leadership Rigor! One of the ALS associates was lucky enough to win a copy of Erica’s latest book.
On November 9, 2014, representatives from The ALS Group descended on the Gaylord Opryland Hotel in Nashville, along with roughly 1,400 other risk managers, insurance agents, brokers, attorneys, underwriters and insurance consultants from the construction industry. This year was the 34th year of IRMI’s Construction Risk Conference, and it did not disappoint. Click here to enjoy some photos from the conference.
ALS learned about some new trends in coverages, heard about how the market is responding to new ISO policy forms, and heard some of the brightest and best speakers in the industry. Some of the topics that interested us most were:
If you’d like to hear more about our trip to IRMI, the specific topics above, or mitigating your construction risk, please contact us.
On October 20, 2014, Albert Sica, Managing Principal of The ALS Group, presented at a seminar about risk and insurance in real estate transactions to a group of attorneys at Olshan Frome Wolosky in New York City. The discussion focused on the specific risk management and insurance challenges that arise during the construction phase of a real estate transaction. Part 2 of the seminar, which will focus on the real estate operations after construction is completed, is scheduled to be held on December 8.
The Managing Principal of the Firm, Albert Sica, presented to the Association of Contracting Plumbers of the City of New York, Inc. on April 16th, 2014. The presentation – NYC Contractors The New “Normal” – was focused on raising awareness on insurance and risk management challenges faced today by NYC contractors. Al’s presentation provided attendees with insight on questions to be asked to probe these challenges, as well as offer non-insurance risk transfer methods to use to mitigate risk.
On February 27th, 2014, Albert Sica presented to the NJCPA on “Risk Reviews and Business Valuation.” To download the presentation, please fill out the form below. Once complete, a link will appear to allow you to download the document
The ALS Group provided insurance and risk management consulting for the new $314 million acquisition
November 4, 2013
Release Date: Immediate
EDISON, N.J. (November 2013) — The ALS Group (ALS), an independent insurance and risk management consulting firm, announces that APR Energy has completed due diligence for its acquisition of General Electric Company’s power rental business. The ALS Group provided valuable assistance to APR Energy as one of the many consultants providing support on the transaction.
Commenting on The ALS Group’s contribution to the acquisition, APR Energy’s CEO John Campion said: “The ALS Group has been a long-time advisor to APR; their innovative and strategic approach to risk mitigation has been an important part of APR’s overall business strategy. The ALS team immediately understood that this was a transformational transaction for APR Energy, one that would allow us to move rapidly towards delivering our stated medium-term business objectives. They helped to identify the key insurance risks to APR during the transaction and provided us with the information needed to address these risks in order to help prevent any negative financial impact on our organization.”
The acquisition and strategic alliance makes APR Energy the world’s leading fast-track mobile gas turbine power provider, expanding its reach into new regions and increasing its mobile turbine power capacity to 1.2 Gigawatts – enough to power the equivalent of 1.2 million US homes.
ABOUT THE ALS GROUP
The ALS Group is an independent insurance and risk management consulting firm located in Edison, NJ. The ALS Group has provided fee based advice since 1994 and does not sell insurance, take commissions or offer any brokerage services. Visit www.thealsgroup.com, or call (732)395-4250 for more information.
Superstorm Sandy hit more than six (6) months ago and some are still recovering from the effects of the damage, destruction and loss of revenue the storm caused.
Albert Sica, Managing Principal of The ALS Group, recently presented at the JAHMA Spring Management Event. The purpose of the presentation was to examine key elements of insurance coverage and claims management in the aftermath of Superstorm Sandy and make the attendees aware of how crucial proper coverage to business owner.
Mr. Sica’s presentation also focused on the importance of location risks and claims handling. To better understand the risks to your location or business and determine whether you have appropriate coverage, as well more information on effective claims management, contact Mr. Sica at 732.395.4251 or at firstname.lastname@example.org.
On March 4th The ALS Group attended the IRMI Energy Risk and Insurance Conference in Houston. Even though we have attended this conference before, our view on this year’s conference had a new perspective as it coincided with our opening of the new Houston office.
The conference was focused on how to manage and insure oil and gas risks. The topics addressed were fracking, environmental damage as well as drilling contracts and master service agreements. These were especially important and timely to The ALS Group as we expand our footprint into helping companies in the energy sector take a more three-dimensional, strategic approach to risk and risk mitigation.
The guest speakers notably highlighted the most comprehensive ways to understand, mitigate or insure the complex exposures arising in the oil and gas business with the quality we have come to expect from IRMI conferences.
The ALS Group embraces both the traditional view of insurance as well as strategic, innovative approach to risk mitigation. We utilize Enterprise Risk Management to continually assess not only what type of risks are out there that can be insured, but also how those risks can be managed through the operational and strategic environment that your company implements.
On October 11, 2011, The ALS Group attended the ACG M&A East Conference in Philadelphia. This having been our first time participating in the conference, we were curious to see what the attendance would be like, in light of the economy and the challenges it presents to the M&A industry. We were inspired to see that 1,300 professionals were in attendance – the largest to date.
The topics of discussions between the various attendees regarding the state of the industry did not shy away from the issues everyone faces. There was a genuine collegial approach to working together.
The guest speakers notably highlighted how the M&A industry is often the genesis of supporting innovation and entrepreneurs that create jobs and economic growth. We could not agree with them more. No matter the challenges, we embrace them, and look to the future, side by side, with our clients and industry colleagues.
As the number of mergers, acquisitions and workout transactions begins to rise, the subject of risk transparency is becoming an ever increasing concern. Investors and lenders are approaching new opportunities with an increased scrutiny of risk, resulting in not only extensive due diligence, but also in the need for innovative risk management strategies. We approach risk and insurance in a three dimensional fashion.
We embrace both the traditional view of insurance as well as the strategic view of risk. The ultimate purpose of a risk management and insurance due diligence exercise is not only to unearth the potential traps, but also to develop solutions to protect against them.
If you would like to learn more about our transactional services and ways to mitigate/transfer your risk, please contact Albert L. Sica
The ALS Group announces its selection as the project risk management consultant for the Miami Science Museum. The ALS Group will identify and manage the material project risks and craft appropriate insurance and risk management solutions.
The Miami Science Museum is set to break ground later this year in downtown Miami. Some of the exciting features include a 3-D planetarium, multi-level aquarium, animal exhibits, and interactive learning adventures that will introduce a new era of education for children of all ages.
To learn more, read the Press Release.
Braving some unexpected rain, contractors from all over New Jersey and Pennsylvania traveled to attend the 2011 ABC South Jersey Golf Classic. The outing allowed everyone to take a break from their usually hectic schedules and enjoy a day of golf with friends and fellow contractors. To show their support of ABC, The ALS Group sponsored a tee and lent a hand during the outing.
“It was great to be part of such a fun event. I enjoyed getting out to meet members of the association and help out where I could,” said Natalie Puzio an Associate of The ALS Group.
The importance of teaming with qualified legal counsel in your daily operations cannot be understated. It is critical to minimizing risk when dealing with potentially volatile legal issues that can arise every day. Landlord and tenant disputes are some of the most contentious areas of litigation that can result in significant potential liability if not handled properly. By using a qualified attorney, particularly when dealing with tenant issues, you can be assured that the intricacies of the law will be managed properly thereby mitigating your financial risk. The improper handling of tenant related issues can ultimately lead to discrimination claims, wrongful eviction, and a host of other unnecessary legal claims against you.
Bruce E. Gudin, Esq. a partner at Levy Ehrlich & Petriello, PC (www.lep-lawyers.com) was on hand May 5th to sign copies of his recently released book “Landlord-Tenant and Related Issues, In the Superior Court of New Jersey” a bench reference manual distributed to judges and available through NJ ICLE. Mr. Gudin is recognized by his peers as an expert in this field.
Managing principle Albert Sica, presents “Risk and Financial Impact: A New Perspective of Risk” to bankers and CPA’s at the NJSCPA event on March 17, 2011. The presentation raised awareness about insurance and risk management to help avoid the “horror stories” of uncovered claims. The presentation provided an insight on what questions should be asked to probe these issues and what non-insurance risk transfer methods a Client Company can use to mitigate risk.
On November 30, 2010 at the LaGuardia Marriot in Elmhurst, NY, and on December 2, 2010 at The Renaissance Hotel in Woodbridge, NJ, The ALS Group Healthcare Advisory Associate Joseph Zurica, conducted a presentation entitled “The Business Impact of Healthcare Reform” that hit deep in the minds of those in attendance. An emotionally motivated discussion solidified the importance of the new healthcare legislation and the impact it has on employees and the small business community. The presentation was both insightful and an overall success. The ALS Group would like to thank members of the ACP, MCA, and JAHMA for their attendance.
Please email Albert L. Sica for more information.
The ALS Group, an independent insurance and risk management and advisory firm, will host a special presentation entitled “The Business Impact of Healthcare Reform – Watch Your Wallet” for the not for profit New Jersey Affordable Housing Management Association and its members, Thursday, December 2nd, at the Woodbridge Renaissance Hotel in Iselin, N.J.
The ALS Group, one of the largest independent insurance and risk management and advisory firm in the USA, will make a very special presentation later this month entitled “The Business Impact of Healthcare Reform – Watch Your Wallet” to both the Association of Contracting Plumbers of the City of New York, Inc. (ACP), and the Mechanical Contractors Association of New York, Inc. (MCA).
As we continue to grow and expand, moving our offices to Metro Park NJ provides The ALS Group with more space, better logistics and the opportunity to continue to support our Clients and colleagues in a professional environment. Our new address will be 379 Thornall Street, Edison, NJ 08837. The new office is within walking distance from the Metro Park train station for Amtrak and NJ Transit; which will vastly improve access to our office for our clients in NYC, Philadelphia, or Washington DC. In conjunction with the move, we are finalizing setup of our new state of the art phone system which will provide increased flexibility for our clients and associates whether we are in the office or out with clients.
Currently all of our associates are equipped with blackberry phones and once we have the new phone numbers we’ll put out an updated list. We will be in temporary space within the 379 Thornall building for the next five months until our space is built out.
Check back here to keep apprised of the move and new information as things progress.
The ALS Group was asked to speak for the POA (Property Owner’s Association) on Wednesday, January 14th 2009 in West Orange, NJ.
It was a well hosted affair, and The ALS Group gave a presentation on Risk Management and how an RMA (Risk Management Assessment) can benefit property owners. If you’d like a copy of this presentation, or would like to have The ALS Group present a similar one to your association or firm, please go to our Contact Us page.