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Risk Management Assessment
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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. 

The Battle Between “Blanket” Additional Insured Endorsement and the Underlying Contract

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

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The ALS Group April 7, 2015

Defense Costs – In Addition to My Limits?

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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The ALS Group March 24, 2015

Another Cyber Hack Leaves More Questions than Answers

The adage that information is power seems to carry more weight now than ever before. Healthcare is moving towards data driven analytics, mobile banking is hitting its stride, and sports at all levels are utilizing advanced statistics to improve competition. However, one major downfall is that all this data must be stored somewhere, thereby creating a risk of breach to the data holder. Hackers are well aware that information is power and data breaches seemingly occur at non-stop rates.

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The ALS Group February 24, 2015

Understanding Insurance Terms – Actual Cash Value vs. Replacement Cost

It is vital to understand specific terms found in insurance policies. The inability to do so may result in an unwanted surprise such as a lower than anticipated claim payment following a loss.  For example, Actual Cash Value (ACV) and Replacement Cost (RC) are two different methods of valuation that will determine how the insured is indemnified.

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The ALS Group January 28, 2015

Asbestos Exposure Claims – Just Hitting Their Stride at 25

It’s been, roughly, a quarter-century since widespread asbestos installation in the United States came to an end, but the ramifications of its use are still being felt today. While the US has not banned the use of asbestos completely, it is no longer used as a form of insulation in construction projects. The shift away from the use of asbestos came at the turn of the 1990s. Of particular interest is the fact that, many of the buildings constructed during that time are now being demolished or renovated, which exposes workers to the air-borne particles that can cause ailments such as lung cancer and mesothelioma.

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The ALS Group January 20, 2015

Data Breach – Not “Music” to Sony’s Employees Ears…

The recent cyber security breach to Sony Studios should make companies think more carefully about areas of susceptibility in the company. The focus here is “employee data” – now while this has reverberated in the motion picture industry it should make the average company a bit more cautious with employee data systems.

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The ALS Group December 15, 2014

Ebola: The New Construction Project Risk

The global outbreak of the Ebola virus not only has long term social ramifications but economic ones as well.   Recently, this issue has become more and more prevalent on construction projects in developing nations.    When a local government considers a substantial construction project it is expecting certain economic outcomes to follow. In light of the Ebola crisis, risk managers of construction companies and material supply companies must now factor into their budgets the real likelihood of a project being delayed or shut down even after a substantial amount of funds have been expended.  A recent WSJ article, “Mining Projects Take Hit From Ebola Crisis”,  spoke about how major mining efforts

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The ALS Group December 1, 2014

Holiday Time

It’s everyone’s favorite time of year again.  The department stores and commercials have already begun to advertise Christmas gifts, and it is not even Thanksgiving.  As exciting as the holidays can be, we sometimes forget to think about the risks that go hand in hand with  the holiday season, including credit card hacking and fires starting from decorations or cooking.

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The ALS Group November 24, 2014
The Far-Reaching Effects of a Cyber Breach

The Far-Reaching Effects of a Cyber Breach

This past Tuesday, The Home Depot announced its 3rd Quarter earnings for 2014, but also warned shareholders that there will be more costs associated with the data breach that was originally announced in September 2014. According to a recent Wall Street Journal article, “the company said the data breach resulted in $28MM of pretax expenses in the most recent period, adding that it estimates the net cost for the year to be $34MM.” Based on various articles that I have reviewed, the retailer carries a $100MM insurance policy for expenses related to the breach. Having read about many other security breaches over the past year and the significant costs associated

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The ALS Group November 24, 2014

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