We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
Risk, construction and compliance are three concepts that weigh heavily on the minds of owners and contractors globally. This was evident at the recent Risk & Compliance Summit held at Georgia Tech in Atlanta last week.
While it was never the intent of Winston Churchill that his famous description of Russia’s intentions in 1939 would apply to Enterprise Risk Management (ERM), the analogy applies pretty well. “It is a riddle, wrapped in a mystery, inside an enigma, but perhaps there is a key.” I firmly believe there is a key to a proper, productive and easily understood ERM program.
Many companies are crossing national boundaries to exploit new opportunities and minimize any potential threats. Globalization brings both opportunities and risks to multinational enterprises (MNEs) doing business in another country, and requires the MNE to have a system in place to detect and respond to these potential threats and challenges.
With the second anniversary of Superstorm Sandy just around the corner, I was thinking back to the whirlwind of media predictions that preceded landfall. Where would it strike? When would it hit? How bad would it be? Forecasters commented over and over that predicting the path of the storm and its ensuing destruction was particularly difficult because nothing like it had happened before. So I was surprised to learn of an even larger storm from 1821: the Norfolk and Long Island hurricane. If the Norfolk and Long Island hurricane were to hit today, its damage would exceed that of Sandy, Rita, Andrew and Katrina.
In 2012, the most recent year for which data is available, the United States Bureau of Labor Statistics reported 849 construction worker fatalities. Crane accidents make up a large number of these deaths and an even greater number of construction-related injuries each year. Not only can a crane accident cause significant injury to workers on a construction site, but it can also cause injury and death to innocent passersby of the site. Given the risk associated with crane operation on a construction site, what should you – owners and contractors – do to mitigate this risk and limit your exposure?
Fees and expenses associated with 401(k) plans have become a central issue for plan sponsors to manage in administering their company’s plan. The article in the July issue of CFO Magazine addressed some of the fiduciary risks for 401(k) plan sponsors and provided seven tips to minimize these risks. The third tip on the list? Benchmarking, benchmarking and more benchmarking.
IT-related threats originate from multiple angles, all of which require proper attention and application of mitigation techniques. Perhaps the biggest threat to a company’s IT security is their internal contacts (staff, vendors, contractors, etc.). Many companies are utilizing heightened IT security measures, but fail to account for the negligible or malicious actions from these internal contacts who often have high-level access to company systems. Inside access often isn’t monitored and can easily lead to stolen data or corrupted systems.
The unthinkable happens: the business that you have put all your passion, hard work, and money into is destroyed, and there was nothing you could do to prevent it. Or was there?
The globalization of business operations and our dependence on the internet for data storage over the past decade has exposed companies to a new set of risks. As this trend continues to grow, so does the risk associated with data breaches of a company’s domestic or international servers.
As you may or may not have heard, there is currently a bill sitting in the New Jersey Legislature, which, if passed, would swiftly alter the landscape of commercial liability policies for New Jersey construction contractors.
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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
