Hurricanes, Tropical Storms and Insurance – Oh My

As the world is ever changing, so are the way insurers interpret the natural disasters and how they will respond to cover these terrible events. Over the years, the U.S. has seen an increase in earthquakes, tornadoes, hurricanes, blizzards and more. The insurance industry now has created a stricter view of how they will cover these events. In particular, as we have seen with Hurricane Katrina and Hurricane Sandy, the insurance industry has developed a new terminology and deductible related, specifically, to “named storm/named windstorm.”

The ALS Group February 19, 2015

Understanding Insurance Terms – Actual Cash Value vs. Replacement Cost

It is vital to understand specific terms found in insurance policies. The inability to do so may result in an unwanted surprise such as a lower than anticipated claim payment following a loss. For example, Actual Cash Value (ACV) and Replacement Cost (RC) are two different methods of valuation that will determine how the insured is indemnified.

The ALS Group January 28, 2015

Construction Drones: Who’s At Fault When Skynet Takes Over

The ALS Group January 23, 2015

Asbestos Exposure Claims – Just Hitting Their Stride at 25

It’s been, roughly, a quarter-century since widespread asbestos installation in the United States came to an end, but the ramifications of its use are still being felt today. While the US has not banned the use of asbestos completely, it is no longer used as a form of insulation in construction projects. The shift away from the use of asbestos came at the turn of the 1990s. Of particular interest is the fact that, many of the buildings constructed during that time are now being demolished or renovated, which exposes workers to the air-borne particles that can cause ailments such as lung cancer and mesothelioma.

The ALS Group January 20, 2015

TRIA Re-authorization

Yesterday, January 12, 2015, President Obama officially signed the legislation needed to reauthorize The Terrorism Reinsurance Act (TRIA). Passage of the bill returns stability to insurers, policyholders and lenders after Congress adjourned and allowed the federal terrorism insurance backstop to expire. The executed legislation does modify terms of the prior act.

The ALS Group January 13, 2015

New Year’s Resolutions – Review your Homeowners Coverage – Mitigate Water Damage Claims

On December 18 ACE Private Risk Services announced that they were acquiring the personal insurance business of Fireman’s Fund from Allianz SE. While this does not rise to the notoriety of Sony and North Korea, it is of particular interest to those who are written in the so called “high-net-worth” market category. Fireman’s Fund and ACE have two (now one) of the best personal lines programs out there. Other notable carriers are AIG Private Client Group, Chubb and PURE. All are vying for a share of the $1M+ dwelling homeowners market.

The ALS Group January 8, 2015

Data Breach – Not “Music” to Sony’s Employees Ears…

The recent cyber security breach to Sony Studios should make companies think more carefully about areas of susceptibility in the company. The focus here is “employee data” – now while this has reverberated in the motion picture industry it should make the average company a bit more cautious with employee data systems.

The ALS Group December 15, 2014

Traffic Jams and Supply Chain Risk

Everybody has heard of the “famous” traffic delays in Los Angeles. The recent Wall Street Journal article, “A New Traffic Jam Hits L.A.”, describes a new type of delay hitting the city – shipping. This has impacted many of businesses due to the challenge of getting products in and out of the port of Long Beach. It has now stalled the delivery of goods and caused some shippers to redirect their ships to other ports. That, combined with the fact that there are few ports that can handle the larger cargo ships, can impact an organization’s bottom line by increasing its cost of doing business. This article drives home the

The ALS Group December 9, 2014

Ebola: The New Construction Project Risk

The global outbreak of the Ebola virus not only has long term social ramifications but economic ones as well. Recently, this issue has become more and more prevalent on construction projects in developing nations. When a local government considers a substantial construction project it is expecting certain economic outcomes to follow. In light of the Ebola crisis, risk managers of construction companies and material supply companies must now factor into their budgets the real likelihood of a project being delayed or shut down even after a substantial amount of funds have been expended. A recent WSJ article, “Mining Projects Take Hit From Ebola Crisis”, spoke about how major mining efforts

The ALS Group December 1, 2014

Holiday Time

It’s everyone’s favorite time of year again. The department stores and commercials have already begun to advertise Christmas gifts, and it is not even Thanksgiving. As exciting as the holidays can be, we sometimes forget to think about the risks that go hand in hand with the holiday season, including credit card hacking and fires starting from decorations or cooking.

The ALS Group November 24, 2014

Our areas of expertise include:

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

The ALS Group Risk Management Articles

Hurricanes, Tropical Storms and Insurance – Oh My

Understanding Insurance Terms – Actual Cash Value vs. Replacement Cost

Construction Drones: Who’s At Fault When Skynet Takes Over

Asbestos Exposure Claims – Just Hitting Their Stride at 25

TRIA Re-authorization

New Year’s Resolutions – Review your Homeowners Coverage – Mitigate Water Damage Claims

Data Breach – Not “Music” to Sony’s Employees Ears…

Traffic Jams and Supply Chain Risk

Ebola: The New Construction Project Risk

Holiday Time

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