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. 

Ransomware Events are on the Rise | Protect your Networks Now

Ransomware Events are on the Rise | Protect your Networks Now (Part 1)

The U.S. Department of Justice stated that “More than 4,000 ransomware attacks have occurred daily since January 1, 2016. This is a 300 percent increase over the approximately 1,000 attacks per day seen in 2015.” Essentially, no particular user, company or business sector is safe. Although the Healthcare and Retail industries are targeted for their volume and value of data, home computers may also fall victim to ransomware.

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Just Because Your Business is Insured … Doesn’t Mean You’re Covered

You’ve done your due diligence and obtained insurance policies for your business. But, often times that’s not enough to ensure you’ve got the right coverage in place to best protect your people, your business, and ultimately, your bottom line. Our Managing Principal, Al Sica, offers excellent guidance to both business owners and individuals in his article “Insurance Coverage Purchase Strategies.”

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A smartphone with a padlock icon covers the screen of a tablet displaying various application icons.

Leaving on a Jet Plane? Secure Your Devices First

I’ve headed off on vacation with my wife and kid in sunny Florida, but didn’t want to miss posting something useful for Cyber Tuesday.  Having been preaching the “dos” and “don’ts” of data security for businesses, I had to make sure my own mobile devices were secured while on the move.  My wife will probably disagree, but, in my opinion securing your data (both personal and professional) while on the go is just as, if not more important than making sure you packed your toothbrush and sunscreen.

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A tall, modern skyscraper with a glass exterior is shown from below. Adjacent is a yellow construction crane

Construction Defects … Leave You with That Sinking Feeling

A case in point is the super sleek and very expensive Millennium Towers building in San Francisco. According to reports from independent consultants, the 58 story building has sunk about 16 inches and tilts about two inches to the Northwest. Settling is a natural process in any construction project and architects and engineers build that into their model; however, 16 inches since 2008 is a cause for concern. And, the sinking isn’t over. According to the August 9th article in Curbed San Francisco, the building is predicted to drop an additional eight to 15 inches into the ground.

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The Importance of Password Diversity

The Importance of Password Diversity

Between company logins, online banking, personal email accounts, and various social media accounts the average user is required to come up with a lot of passwords. Unfortunately, many use the same password for all of their logins, simply for the sake of convenience. This poses a huge security risk, as once any one of those services is hacked and the user’s password becomes compromised, all of the other accounts are in jeopardy.

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Pokémon Go and Construction Site Safety

Pokémon Go and Construction Site Safety

Have you protected your worksite from Rattata yet? How about Pidgey or Staryu? Who? They’re just a few characters from Pokémon Go, the augmented reality game craze that’s got people showing up at PokéStops in all sorts of random places, hoping to track down Pokémon characters on their mobile devices. With more than 30 million users (more than 20 million registered users in the US alone), the game takes players out into real world locations, including retail stores, office buildings, train stations and even construction sites.

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A computer screen displays a chilling message with the caption "RANSOMWARE 2.0" indicating a dangerous ransomware attack.

Just Wait … It Gets Worse | the Sequel to Ransomware

Cisco has released the 2016 Midyear Cybersecurity Report and their findings point to future, more sophisticated types of ransomware that will take full advantage of systems with less than satisfactory security measures, patching practices, and detection rates.

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Image of the text "401(k) Risk" highlighting the importance of risk management.

401K PLAN FEE DISCLOSURE – WELCOME TO THE JUNGLE

With the deadline for filing form 5500 literally around the corner (July 31), fees and expenses associated with 401(k) are critical issues for plan sponsors.   One of the most important things a plan sponsor can do is to benchmark their plan fees against the ones in comparable plans, to mitigate their risk for lawsuits or sanctions.  According to the July 20, 2016 article in Bloomberg BNA “New York Accused of Profiting Off Workers’ 401(k)“, New York Life has been sued by employees who claim that one of the company’s in-house mutual funds carried needlessly high fees that eroded their retirement savings.

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Illustration of a pizza with a slice being pulled out, accompanied by the text "Pizza Lovers Cyber Breach".

Grab a Slice – Lose Your Data | CiCis Pizza Data Breach

Another hack of a big name corporation has hit the news. CiCis Pizza the victim this time. Over 135 CiCis locations were hit with malware on their Point of Sale (“POS”) system, causing a breach of customer credit card numbers. After several locations reported issues with their POS system, the POS vendor began an investigation that uncovered malware that had been present on some systems as far back as July 2015. A statement on the CiCis website notes: “Not all payment cards used at the affected restaurant locations were compromised; however, some information from some payment cards used in such locations may have been accessed by the malware.” – Not

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A baseball is depicted behind black vertical bars, creating the appearance that it is imprisoned or confined.

Major League Strikeout | MLB Hacker Sentenced

Former Major League Baseball director of scouting for the St. Louis Cardinals, Christopher Correa, has been sentenced to 46 months in prison for hacking the scouting records and email system of the Houston Astros. Correa “repeatedly viewed confidential information” on the Astros scouting database using “sophisticated means” to hide his identity. Correa’s actions violated the “Computer Fraud and Abuse Act” Federal Law, which prohibits unauthorized access into another business’s computer with the intent to steal data from that computer. Hence, the lengthy sentence. However, the important piece of information to note here is how Correa gained access to the Astros database.

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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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