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Risk Management Assessment
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RMA

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 person sits at a desk with their head in their hands displaying a ransomware message highlighting the severe consequences of cyber risk.

Top Ransomware Prevention Tips to Safeguard Your Business

Five Tips to Help Prevent Ransomware Attacks As businesses become more aware of the dangers posed by cyber-attacks and ransomware, they are enhancing their IT security tools and practices. However, cybercriminals constantly evolve, devising new tactics to breach systems and steal valuable data. Compounding the issue, the costs associated with cyber breaches are rising. According to Ponemon’s 2019 Cost of a Data Breach study, breaches originating from malicious cyber-attacks were not only the most common but also the most expensive. Here are five updated tips to help protect your organization from ransomware and other cyber threats: 1. Strong Passwords Are Not Enough—Enable Multi-Factor Authentication (MFA) While strong passwords are essential,

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The ALS Group July 8, 2021
Close-up of a file tab labeled "Risks" in a filing system, highlighting the importance of risk management services.

There’s Value in Measuring the Total Cost of Risk (TCoR)

Businesses face a wide range of risks that can impact their operations, profitability, and long-term sustainability. Understanding and controlling these risks is crucial for staying competitive and positioning a company for growth. One essential tool for achieving this is by measuring the Total Cost of Risk (TCoR).

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The ALS Group April 4, 2021
Several holiday-themed gift bags, including one with the text "Tis the Season," are arranged on a wooden floor, containing wrapped presents.

The ALS Group – The Team Gives Back!

The ALS Team partnered with Bridges of Hope, Staten Island to collect and donate gifts for families who are coping with a particularly difficult holiday season. Bridges of Hope was started by Grace Murphy in 1998 as a parish social-action outreach effort to create a “bridge” between the community and families in public housing. 

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The ALS Group December 14, 2020
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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The ALS Group September 23, 2020
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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The ALS Group July 17, 2020
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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The ALS Group June 8, 2020
The Challenges of Working Moms

The Challenges of Working Moms

Our blogs usually address specific risk related topics, but as we celebrated Mother’s Day on Sunday, we wanted to dedicate this one to all the amazing moms who are there for their families and organizations as well as address some of the challenges they face.    Most of us have experienced and continue to experience a drastic shift in our daily lives when the country began its COVID-19 fight a few months ago. There is one group, however, that has been particularly and profoundly impacted by the lock-down even more than the rest and that is working moms. 

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The ALS Group May 11, 2020
A large iceberg, with a small visible portion above the water

Total Cost of Risk (TCoR) – Strategies for Cost Savings

As part of any effective risk management program, the quantification of the Total Cost of Risk (“TCoR”) is an important number to focus on. This article focuses on how Workers Compensation (“WC”) costs contribute to a company’s TCoR and, specifically, how the Experience Modification (“X-MOD”) factor works and can be managed. We take TCoR seriously in our risk advisory practice as having a TCoR that is lower than a company’s peers gives that company a competitive advantage in, both, how it conducts its business and the opportunities it can pursue.

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The ALS Group April 21, 2020
The ALS Group's Initiative for the Prevention of Suicide in the Construction Industry

The ALS Group’s Initiative for the Prevention of Suicide in the Construction Industry

Yesterday, the Governor of New York announced that he was going to extend the Coronavirus shutdown order until May 15th, which, although necessary from a health standpoint, adds additional pressure to many people who need to get back to work. One of the areas that is hit very hard by this shutdown is the construction industry. According to the Centers for Disease Control and Prevention, construction occupations are at the second highest number of suicides across all occupational groups, an alarming statistic to say the least.

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The ALS Group April 17, 2020

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