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The ALS Group Risk Management Articles

We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe. 

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Enterprise Risk Management and Total Cost of Risk – Concepts that Align

As insurance procurement becomes more difficult, the industry is inherently requiring an organization to be more thoughtful and responsible for managing its own risk. Gone are the days when underwriters will broadly accept risks that are not well understood or managed by an organization. The concept of risk and insurance is not a “one-dimensional” purchasing strategy but rather a process that an organization should embrace to determine what the most material risks are that could affect their organization and what the financial impact could be of those risks. The result can provide a basis for an organization’s risk appetite1 and how accepting or avoiding risks aligns with the organization’s strategic

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A cargo ship loaded with multicolored containers lies trapped beneath a collapsed metal structure in the water. This situation calls for an immediate risk assessment to prevent further damage and ensure safety protocols are followed.

Hey – That’s My Cargo

Perhaps the last thing we think about when reflecting on the Francis Scott Key Bridge Collapse is the non-delivery of cargo on the vessel – while that is understandable it might be a bit more of a priority if that cargo were your company’s property. A cargo ship collided with Baltimore’s Francis Scott Key Bridge, resulting in the collapse of the span and the tragic loss of six construction workers. Officials from the National Transportation Safety Board boarded the ship on Wednesday, a day after the early-morning crash. They intended to recover information from its electronics and paperwork, while divers continued their search for the missing workers. It’s indeed unfortunate

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Close-up of a computer keyboard's internal circuit board with a small padlock placed on it, surrounded by visible keys like Ctrl, Shift, Esc, Delete, and End—symbolizing the importance of cyber risk assessment.

Navigating the Complex Landscape of Cyber Insurance Companies

In today’s digital landscape, cyber threats are ever-present and complex. At The ALS Group, we prioritize mitigating these risks through strategic risk management. A key component of our strategy involves navigating the intricate world of cyber insurance. We simplify the process of selecting the right cyber insurance policies, integrating them seamlessly into your business’s defense mechanisms, ensuring your assets and reputation are well-protected.

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A hand interacts with a digital screen that displays "Cyber Security" crucial elements often addressed by risk advisory firms in Florida.

Preventing Swatting: How to Defend Against Cyber Attacks

At The ALS Group, we are acutely aware of the evolving threats in the digital landscape, and swatting represents a particularly malicious form of cyber-attack with real-world implications. As a risk advisory firm, our mission is to illuminate the dangers of such activities and provide strategic risk mitigation strategies to safeguard businesses and individuals alike.

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Two individuals shake hands, indicating a critical discussion about insurance and risk management.

Builders’ Risk Insurance An Often Misunderstood Coverage

When a company starts a construction or renovation project the subject of Builders’ Risk inevitably comes up. It could be when the Construction Management Agreement (CMA) is being drafted or when reviewing lender insurance requirements, but it is bound to happen. Builders’ Risk is a “quirky” coverage in that it is written on non-standard form, covers a variety of exposures, and the terms of coverage generally not well understood by insurance professionals that do not specialize in construction insurance. So, as an Owner, what to do? Well, first thing is to understand what you want to cover. Builders’ Risk has three major coverage areas that can be included: Each area

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Navigating the Cybersecurity Landscape in 2024: Priorities, Risks, and Resilience

As we launch 2024, we, once again, recognize the escalating significance and pressing demand for treating cybersecurity as a priority for organizations, individuals, and governments alike. Cyber insurance underwriters continue to look for their insureds (or prospective insureds) to have a myriad of IT security controls in place to mitigate various cyber exposures. One particular emerging technology that is giving the risk management and insurance industry reason for concern is Artificial Intelligence (AI). As Artificial Intelligence gains popularity, many industries are adopting this new technology, as it will undoubtedly have a significant impact and increase risk. In fact, there is a scarcity of professionals possessing the skills needed to protect

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collapsed crane lying across a city street on a rainy day, highlighting the critical importance of risk management in construction.

Crane Collapse Incidents and Lessons for Risk Management in Construction

While there is a bit of a pause in the construction development activity these days, there is some recent news out of New York and Texas regarding crane safety. Tuesday, January 9th, a crane collapsed in Manhattan injuring five people. According to the FDNY, four of the victim’s injuries were described to be minor, and one person was left with serious, but not life-threatening injuries. https://gothamist.com/news/5-injured-in-manhattan-crane-collapse-fdny-says In regards to the Texas Crane Collapse of 2019, a Dallas jury has awarded more than $860 Million to the family of one of the victims of the collapse. This is a solemn reminder of how important proper safety and controls are on any

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Black and white New Year promotion banner from The ALS Group, a leading risk advisory firm in Florida.

New Year, New Leadership: Elevating Risk Management at The ALS Group

The ALS Group is thrilled to announce promotions for our risk management team. These promotions reflect our commitment to excellence in the risk management industry and underscore our dedication to recognizing and rewarding leadership qualities and innovative thinking in our associates as well as our dedication to growing and developing the next generation of leaders.   Strategic Promotions within The ALS Group in 2024 We are proud to congratulate the following individuals for their well-deserved promotions, highlighting their exceptional contributions to the business: At The ALS Group, we believe that the essence of effective risk management lies not only in professional expertise but also in the integrity and character of our

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Person shoveling snow with a red shovel, wearing black pants and boots

What is your Snowstorm Response Plan

US weather patterns continue to be unpredictable and the Northeast is getting its first taste of snow, so I thought it would be good to reinforce how important it is to have a comprehensive storm response plan.Snowstorms can cause a variety of problems such as, power outages, pipe bursts, and inaccessible roadways for many residents and businesses throughout the U.S. Alternatively, businesses that have remote workers must also deal with issues pertaining to widespread residential outages which can serve as a major disruption for employees with home offices. So, what can you do? If you need more information on any of the topics covered in this blog, or need help

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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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