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. 

A glowing green padlock icon is embedded within a digital circuit board design, symbolizing cybersecurity and data protection.

Ransomware Demands Spike Due to Pandemic

As companies had to quickly pivot and implement a remote work plan (a lot of them did not have such a plan in place) due to the ongoing COVID-19 pandemic, they became more at risk for a cyber attack and/or breach due to the vulnerabilities they did not even know they had. As a result of this there has been an uptick in the success rate of cyber attacks in the United States. Coalition Inc., a cyber insurance provider, recently released their H1 2020 Cyber Insurance Claims report that noted a decrease in the frequency of ransomware claims however, its policyholders have experienced a 100% increase in average demands from

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Managing Risks and Opportunities

Managing Risks and Opportunities

The idea for this blog was conceived by Marshall Ma, who joined The ALS Group as a Risk Management Intern and now provides support on client accounts as Technical Analyst, based on the Chinese ideogram for “crisis”. It just happens that Marshall is fluent in Mandarin and is passionate about risk management. She is an Enterprise Risk Management Graduate and Lecturer at Columbia University. While at Columbia, Marshall spent a lot of time working on campus educating her peers and supporting industry outreach. She also participated in risk assessment and mitigation for the campus’ internal Career Design Lab.

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Three people working at desks providing top-notch risk management services in Florida.

The Transition Back to the Office

As restrictions due to COVID-19 are slowly lifted, many businesses that have been, either, shut down or had their employees work remotely, are thinking of when and how to re-open and bring their workforce back safely. One of the biggest challenges facing business owners making this type of decision, is how does one manage this new, challenging and invisible risk (risk of COVID transmission), while ensuring your team’s productivity remains high.  

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Supply Chain Risk – What Does the Contract Say?

As companies think about their supply chain and the risks that are inherent with that area, a good place to start is with your contract terms with the supplier – what are the terms you want? What are the terms you have agreed to? With the unsettling state of affairs of the world today, a manufacturer or distributor has to be properly vetted and the terms of supply carefully considered. What is an acceptable delay or non-delivery?

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A smiling couple sits at a desk, shaking hands with another person discuss the future of their Florida enterprise's risk management.

Notarize at Your Own Risk

Notaries are essential. You may know one or may be one yourself, and chances are, you will need one in the course of your life. There has been some form of a Notary Public in Ancient Egypt, proving that this job has been universally agreed upon as a noble public service undertaking for thousands of years. 

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A risk management consultant typing on a laptop at a desk, with papers, a pen, earphones, and a plant in the background.

The Unknowns of IT

  Most CEOs or CFOs are probably not Cyber Security experts, but are entrusted to ensure the company runs efficiently and profitably. In today’s business IOT world, having a safe and secure network is a large part of keeping the business operational. This includes ensuring that all cyber related risks are minimized as much as the budget will allow. Cyber related issues that threaten the company’s income are scary for sure, but perhaps the most frightening aspect of keeping your network and data secure are the “unknowns” of IT.

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A close-up of a keyboard with code and digital data projections overlaying the image.

Will Homeowner’s Insurance Cover a Cyber Attack on Your Personal Information?

These days, with most of us stuck at home and doing the majority of shopping and banking online, the risk of cyber criminals hacking into our networks to get to our bank accounts and/or personal information is greater than ever. While we have made considerable advances in cyber-security, so have the cyber criminals which is one of the reasons we are starting to see insurance policies that protect personal information in the event of a breach. The market for this type of insurance is still new, but it can be quite inexpensive to add cyber protection to homeowner’s policy if the insurer who wrote the policy provides it. 

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Dark storm clouds fill the sky, with a few patches of lighter clouds and hints of blue peeking through.

Prepare Your Business for the 2020 Atlantic Hurricane Season

The 2020 Atlantic hurricane season is expected to run from June 1st to November 30th. Department of Atmospheric Science at Colorado State University predicted that the East Coast of the United States is likely to see a major hurricane, ranking at a category 3, 4, or 5, during the 2020 Atlantic hurricane season. High category named storms bring on damages like, floods, wind damage, and power failure which may take several weeks to recover from. Though these predictions are not precise, we believe, that informed preparation is the best way to avoid costly claims, not unlike those caused by Hurricane Sandy in 2012.  

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Close-up of a black metal chain with one link breaking apart, surrounded by scattered fragments against a white background.

COVID & Supply Chain Risks – Are You Prepared?

COVID-19 forced many companies to close their operations, which caused a great deal of disruption for numerous businesses on both direct losses and their revenue stream. With America trying to “re-open” there is a host of issues that need to be wrestled with. One of the areas that, we think, might be low on the list for many companies is how their supply chain has been affected and will continue to be impacted by COVID related issues. Having latent supply chain disruption can wreak havoc on a business already challenged by the shutdown. This type of risk needs to be understood, so the company can plan for alternatives.

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Our areas of expertise include:

  • Enterprise Risk Management (ERM)
  • Cyber Security & Cyber Liability Insurance
  • Construction Management
  • Customized Risk Management Assessments (RMAs)

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