We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
When considering New York construction projects, The ALS Group is “in a New York State of mind,” to quote Billy Joel. New York’s Scaffold Law Sections 240/241, more commonly referred to as Scaffold, Ladder and Working at a Height Statute, was designed to prevent untimely falls, a leading cause of catastrophic injury and death.
As the National Weather Service is reporting of Hurricane Joaquin intensifying to an extremely dangerous category 4 storm, I wanted to reach out to you to let you know that our team is here and ready to help. Whether you need to understand coverage or need assistance in preparing a contingency plan, the ALS team is here for you.
The breadth of data breaches is widening and now your personal computer network may be a target. Company executives, small business owners, investors, and others who tend to access sensitive or financial data from their home computer or mobile device may be at risk for a personal data breach.
Cyber risk has shot up to become the 2nd largest concern for U.S. businesses in 2015 (up from 5th in 2014). Malicious attacks such as computer viruses, banking or financial system hacks, and data breaches can cripple a business’ reputation and financial standing. If your company is not prepared, it may never recover from a serious cyber risk event.
A recent article in the Wall Street Journal highlighted the plight of Lumber Liquidators who has been struggling to deal with the fallout from a scandal that was caused due to the use of formaldehyde in its wood. You may have seen this on a “60 Minutes” program in early March. If you are a retailer after reading this article and watching the 60 Minutes TV spot you must be asking the question. How well do I know my 3rd party vendors and what process, if any, does my organization have to contain a similar event?
It should come as no surprise that a disruption to the supply chain of any company offering its goods to the public could have disastrous effects. From not being able to stock shelves, to a possible loss in labor force, to unrealized sales, to reputational harm, there is a multitude of things that could go wrong if a company cannot produce the goods it operates to sell.
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
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.
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.
As the world is ever changing, so are the way insurers interpret the natural disasters and how they will respond to cover these terrible events. Over the years, the U.S. has seen an increase in earthquakes, tornadoes, hurricanes, blizzards and more. The insurance industry now has created a stricter view of how they will cover these events. In particular, as we have seen with Hurricane Katrina and Hurricane Sandy, the insurance industry has developed a new terminology and deductible related, specifically, to “named storm/named windstorm.”
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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
