We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
Employers should take note that over the past several years the U.S. Supreme Court has consistently upheld arbitration clauses in employment contracts. The Court’s consistent rulings in favor of arbitration agreements have changed employment law in many states, most notably in California, which has a long history of the courts being hostile to arbitration agreements.
To continue the discussion of Enterprise Risk Management (ERM) and its role within the business world The ALS Group held its second ERM meeting to discuss recent articles that show the influence of ERM today in business. One periodical that often speaks of ERM is Rough Notes. This week’s discussion revolved around The Institutes update of the ARM course curriculum to include ERM into its material; see here for the article written by Michael Moody.
Many mid-market employers are becoming increasingly concerned regarding the rising costs of workers compensation coverage in the hardening insurance market. These cost increases combined with uncertainty over the magnitude of cost increases related to implementation of the Patient Portability and Affordable Care Act (aka Obamacare) have employers scrambling to identify alternatives to reduce cost going forward.
When American International Group (AIG) conducted a research survey of 323 risk managers, IT decision-makers, C-suite executives and brokers in the insurance industry in some capacity, they may have enlightened their audience even more than anticipated. The article states that 85% of all corporate executives polled (258) were “very or somewhat concerned” about the impact of cyber risks on their company. Executives are more concerned with cyber liability risks than any other risk, including income loss, which clearly demonstrates the importance of cyber liability coverage.
I read an interesting article in this month’s Claims Management magazine about claim letter templates. The article was fairly lengthy and discussed how to improve and organize templates to add to claims efficiency (for the carrier). Makes sense, right? Well, maybe…
Cyber Insurance providers’ policies need to be tailored and adapted to the particular risks of the insured. The market can be sculpted to meet the specific risks your particular company faces every day. Cyber risks are becoming more and more apparent, with weekly headlines of major corporations coming under attack. You can no longer sit on the sidelines and hope you are covered when it comes to cyber liability issues.
It seems like everyone is talking about Enterprise Risk Management (ERM) these days, but the question has become: what is anyone doing to further understand how ERM can provide the strategic value that everyone is writing about? One initiative that we at The ALS Group kicked off last Friday is our bi-monthly ERM Work Group meeting where our entire team (and occasionally guests) meet to discuss how ERM is being conveyed to senior level executives through organizations like RIMS and CFO magazine to name a few.
Earlier this year I wrote about the movement toward companies adopting a Bring Your Own Device (BYOD) policy. Many times this is driven by the effort to reduce costs to the company. There are, however, many pitfalls to this strategy if the framework supporting the BYOD policy is not well thought out. The February edition of RIMS magazine captures these risks and issues quite effectively. While smart phones are the obvious subject of this, we can’t forget the myriad of other communication devices (tablets) that these risks can apply to.
There is no doubt business is going global. With more workers traveling abroad and spending extended times in foreign locations the risks for both traveler and company increase. In addition, travel abroad exposes staff to potentially serious financial risk from personal illness (i.e. sickness not related to a WC injury) and, in certain countries, kidnap and ransom, terrorism and war risks. Many of these exposures are not adequately covered under your standard Worker’s Compensation (WC) and Benefit policies. Prudence dictates the time to address these issues is before the traveler has left on their trip and not when the phone rings at 3:00 in the morning.
New York City construction activity has seen a re-birth with the city accounting for nearly half of the country’s commercial construction activity. A major part of that is the World Trade Center construction but there are other major projects being undertaken such as the renovation of Madison Square Garden and the 10 and 20 year capital construction programs of Columbia University and NYU.
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
