The ALS Group Risk Management Articles

The construction industry continues to evolve rapidly, with an increasing reliance on emerging technologies for equipment control, project management, and completion. As projects become more digitally connected, there are significant concerns regarding construction cybersecurity, particularly the security of “smart” equipment such as cranes and drones, as well as Software as a Service (SaaS) and Infrastructure as a Service (IaaS) systems (BIM software) used for project planning and management. Additionally, the utilization of interconnected systems by third parties, such as general contractors and subcontractors, to share and centralize sensitive data poses further cyber risks to projects, highlighting the need for robust construction cybersecurity measures. While these technological advancements enhance project efficiency,

With extreme temperatures in full swing, the focus on Worker Safety needs to be a priority. There are many industries that require their workforce to work outside in these high temperatures. It is important to implement aggressive measures to raise workers’ awareness of techniques that can reduce their heat-related stress and injuries. Some of these techniques include: The article below, which was published by the Risk Management Society (RIMS) in 2021, is timeless in the guidance it suggests and gives more information about Worker Safety. https://www.rmmagazine.com/articles/article/2021/09/01/protecting-workers-in-extreme-heat The image here is a great example of the measures that can be considered Establishing a safety culture that will recognize these conditions and

As insurance procurement becomes more difficult, the industry is inherently requiring an organization to be more thoughtful and responsible for managing its own risk. Gone are the days when underwriters will broadly accept risks that are not well understood or managed by an organization. The concept of risk and insurance is not a “one-dimensional” purchasing strategy but rather a process that an organization should embrace to determine what the most material risks are that could affect their organization and what the financial impact could be of those risks. The result can provide a basis for an organization’s risk appetite1 and how accepting or avoiding risks aligns with the organization’s strategic

A terrific article by Herrick (https://www.herrick.com/news/nycs-new-housing-production-tax-zoning-incentives/) addresses New York City’s affordable housing program allowing a transformative change with the introduction of legislative amendments to expand housing construction. The modifications of the 421-a program to 421-a(16) has been extended until June 15th, 2031 and allows developers tax benefits while ensuring a percentage of affordable housing. A key component of this program is that foundations must have been completed prior June 15, 2022 One of the challenges in taking advantage of this program is that foundations would have been completed prior to vertical construction starting. This “prior work” is getting a great deal of scrutiny from insurers and we are seeing more and