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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. 

Are Your Construction Projects at Risk Because of Cyber Exposures?

Are Your Construction Projects at Risk Because of Cyber Exposures?

The construction industry is changing rapidly and more and more projects are relying on emerging technologies for management and completion. There are now major cyber related concerns regarding “smart” equipment such as cranes and drones and SAAS/IAAS systems used for project planning and management. ‘Connected’ systems utilized by third-parties (general contractors and subcontractors) to share and centralize sensitive data may also expose a project to cyber risks.

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The ALS Group April 30, 2019
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Faulty Work & Claims Reporting

I came across an interesting case that illustrates how critical it is to properly notice a “downstream party” of a claim (or potential claim) and require proof that notice was filed with their insurer.

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The ALS Group March 6, 2019
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COI Compliance: Do You Sleep at Night?

There are industries that entail managing insurance compliance among large numbers of vendors/contractors, which challenges even the most organized firm to manage the compliance properly. If done right, it’s a process which requires diligence and specialized knowledge:  Each of these contractor relationships then generates a number of coverages, terms and back-and-forth communications. For these types of firms, the volume of data, communications and risks dictate a need for a robust and efficient compliance effort. Traditional insurance compliance for vendors, subcontractors and commercial tenants focuses on simply obtaining certificates of insurance (COIs) and calling that “protection”. Ostensibly, these COIs are proof of insurance; however, these are not by themselves good proof

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The ALS Group July 24, 2017
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ALS Risk Management Internship Program

Risk management is a specialized industry, so we always thought it would be best to grow our own associates, provide opportunities, teach them our way; farm our own talent, so to speak. To build up our firm for future generations, we’ve always thought it important to gather new talent as early as possible.

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The ALS Group July 19, 2017
Underrated Small Business Threats and How to Safeguard Against Them

5 Underrated Small Business Threats and How to Safeguard Against Them

  Most small business owners have at least some knowledge of the risks they face. Likely their insurance broker has educated them on some basic coverage for workers compensation, property damage, and business interruption to name a few. But several other potential exposures exist that, if left unaddressed, can mean massive and unncessary risk for a small business. As a company grows, so too does its risk. Business owners therefore would be well served to understand exactly what risks they face, how their specific industry affects their situation, and what they can do about it. Never be blindsided by a seemingly unforeseen issue. Visualize worst case scenarios so you can

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The ALS Group June 23, 2017
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Determining Soft Costs Coverage Under Builders Risk Policy

Soft cost, or delay in the project completion coverage has been a hot topic of discussion and concern recently due to the unique claims scenarios that occur during a construction phase of a project. At first glance, the term “soft costs” seems easy to explain. But it’s actually a more complex subject.

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The ALS Group June 22, 2017
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What is Business Personal Property Coverage & What Does it Include? (Clone)

  Personal property is one of the most underrepresented and disregarded coverage extensions on a commecial property policy. That is, Business Personal Property (BPP) – the personal property owned by the entity that is the named insured on the policy. BPP covers a variety of items typically identified with being owned in relation to the premises identified on the declaration page of a policy. It is not usually intended to insure the personal property of a firm’s employees or guests. Over the course of the last fifteen years, there have been several key changes to significantly expand the definition of BPP in different ways. Always keep in mind that coverage

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The ALS Group June 2, 2017
Enterprise Risk Management | Monitor, Measure, and Evolve

Enterprise Risk Management | Monitor, Measure, and Evolve

In our previous posts on Enterprise Risk Management (ERM), we defined ERM and addressed how to set up the program and use it to assess and treat risks. We have come a long way! In this post, we evaluate the program. ERM is not a static program. An effective approach to evaluating and enhancing the performance is a three-part one: measure, monitor and, most importantly, evolve.

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The ALS Group May 25, 2017

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