The Battle Between “Blanket” Additional Insured Endorsement and the Underlying Contract

The construction and real estate industry continue to grow and so do the risk exposures from a fundamental inconsistency between a contract’s commercial intent and insurance policy language. “Additional Insured” is a very common requirement in a real estate or construction contract and many times there is a distinct lack of specificity with what is, actually, being required and why the provision is appropriate. Additional Insured status provides vicarious liability coverage to an outside entity, usually, an owner or general contractor, under the subcontractor’s policy. It is often a requirement in construction contracts, and it can be the source of insurance disputes if not handled correctly given the changes in

The ALS Group April 7, 2015

Defense Costs – In Addition to My Limits?

One of the areas often overlooked, but vital to an insured, is the defense costs coverage a liability policy provides. As some insureds may be aware, there are two types of defense costs payments, those policies that pay “in addition” to the limits and those whose payments are “within” the policy limits.

The ALS Group March 24, 2015

Another Cyber Hack Leaves More Questions than Answers

The adage that information is power seems to carry more weight now than ever before. Healthcare is moving towards data driven analytics, mobile banking is hitting its stride, and sports at all levels are utilizing advanced statistics to improve competition. However, one major downfall is that all this data must be stored somewhere, thereby creating a risk of breach to the data holder. Hackers are well aware that information is power and data breaches seemingly occur at non-stop rates.

The ALS Group February 24, 2015

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

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

The Battle Between “Blanket” Additional Insured Endorsement and the Underlying Contract

Defense Costs – In Addition to My Limits?

Another Cyber Hack Leaves More Questions than Answers

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…

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