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. 

Indemnity in Construction Contracts

Contracts, Insurance and Certificates…..the saga continues…. As a follow-up to my colleague’s recent post in Construction Executive, I wanted to emphasize the need for properly written contracts.  In construction projects, the contract documents form the basis of the agreement between the parties involved in the project. Written construction contracts impose many duties, obligations and liabilities on contractors. Although project owners pay great attention to the operational issues addressed in these contracts, many pay too little attention to the risk and insurance implications of various contract provisions.

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ERM: Where do we start?

With the multitude of information available, it is no surprise that the process of implementing an ERM Program seems daunting. As highlighted in our prior blog, Strategic Risks: More Important Now Than Ever, one of the very first steps in this process is to form an Executive Risk Committee (ERC).

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Strategic Risks: More Important Now than Ever

Strategic Risks are risks that affect or are created by an organization’s business strategy and strategic objectives. For companies that are committed to thoughtfully managing risk, strategic risk is not a new concept. However, with social media and the speed in which everything happens these days, strategic risks are becoming a high priority for senior leaders. In a recent study released by Deloitte, 81% of companies surveyed now explicitly manage strategic risks, rather than simply focusing on more traditional risk areas, such as operational, compliance and financial risks.

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HACKED

With the continued news reports of  data breaches of high profile businesses, most recently Target, Adobe, Lexis Nexis, and Apple, I thought I would provide you a few thoughts to add to your risk management “New Year’s resolutions” (I know you have them…). Since most of you know I travel quite frequently, both domestically and internationally, I use the wait time at airports, hotels, etc. to work.  I thought the article in the last issue of Executive Travel magazine is a good reminder to all of us on electronic “travel security” and how not to be duped by the growing sophistication of the hackers who prey on the weary business

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What Makes an ERM Program a Success?

I recently attended the Enterprise Risk Management Roundtable Summit in North Carolina held by NC State University that included representatives from Harley Davidson and Caterpillar among  the speakers. This summit helped me gain insight into the emerging importance of a comprehensive risk management program and different strategies the companies have implemented.

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Premises Liability

Jury verdicts for premises liability against those who own or manage land, stores, taverns, shopping malls and apartment complexes just keep climbing. A few California verdicts include a $7.5 million judgment after a chiropractor slipped and fell in a Starbucks and a $55 million verdict for a gang-related shooting against a security company that oversaw on-site safety at an apartment complex.

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The Value of the Incident Report

Even when no injury occurs, after any workplace incident or accident, a written incident report allows a timely investigation. Some incidents are minor and need only slight fixes to prevent their recurrence. However, in more serious situations where a serious injury or property damage could have or did occur, a subsequent failure analysis allows management to determine how to best prevent similar occurrences.

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