We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
Globalization and dependence on the internet for data storage over the past decade has exposed companies to a whole new set of risks. As this trend continues, so too does the risk associated with breaches of domestic or international servers. Massive data breaches happen with alarming frequency. In the past few years, there have been several high profile attacks affecting companies like:
This is an actual picture I took in a café of an unattended pile of documents marked “Confidential.” It blew my mind. If only this employee’s C.E.O. or C.O.O. could see this obvious disregard for the material’s confidentiality. Anyone could have grabbed the documents, peaked at the data, or… snapped a photo.
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.
You’ve heard of cyber attacks causing customer data breaches, business interruptions, reputation management issues, and public relations nightmares – but what about physical damage?
Last month, Risk.net, a UK-based website that covers operations risk at financial services firms, released its list of top 10 operational risks for 2017. It’s no surprise that financial services companies face many of the same risks that businesses in all industries face. So what are those top three risks and how can organizations combat them?
Cyber risk continues to evolve at a breakneck pace. Insurers are working to keep up by customizing policies and endorsements based on the size and business model of the insured. At last week’s third annual International Cyber Risk Management Conference, Matthew Davies, Assistant Vice President of Chubb Insurance Company of Canada, outlined a few key points on what cyber security practices a small organization to already have in place when looking to procure cyber insurance.
Risk Analysis is the second of three phases that make up a Risk Assessment. What are the other two phases?
More than 80% of companies don’t manage risk effectively. Is yours one of them? A 2014 survey by a non-profit business research firm found that fewer than 20 percent of executives say their companies effectively manage risk. Companies will often have a process in place to identify and monitor risks. But they fall short when it comes to actually implementing practices to manage those risks as part of the overall strategic plan.
In 2015 The Internet Crime Complaint Center received 288,012 complaints of cyber attacks totaling more than $1.07 billion in reported losses. Those numbers are based only on incidents that were reported to the FBI. When we talk about cyber risk, data theft, and the threat of Ransomware, we usually focus on prevention strategies. But being prepared to respond quickly and efficiently when an event does occur is just as important to operations recovery, cost reduction, and reputation management.
Risk Identification is the first of three phases that make up a Risk Assessment.
Our areas of expertise include:
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information: [email protected]
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information : [email protected]
New Jersey
175 Main St
Woodbridge, NJ 07095
Tel: +1-732-395-4250
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
