Don’t Lose It Over a Data Breach

Many of the cyber risks discussed today revolve around outside intrusions such as data breaches, viruses, or reputational risks brought on by improper social media use. Another significant risk that must be considered is a major data loss event, whether caused by a technical malfunction or a non-technical property loss such as fire or water damage. While you cannot guarantee a data loss will not happen, there are ways to indemnify and protect yourself if you experience such a data loss.

The ALS Group April 18, 2014

How to Do Business Abroad in a Decade of Increasing Risk: Part 3

Doing Business Abroad: What’s Next? As we have highlighted in Part 1 and Part 2 of Doing Business Abroad, a company’s Directors and Officers can be exposed to a large number of risks overseas. One particular area that can often be overlooked is developing and implementing solid policies and procedures for protection from the Foreign Corrupt Practices Act as well as the UK Bribery Act. Directors & Officers Liability policy does provide some mitigation for this risk, however, the cost for violating these laws could cause irreparable harm to your company including paying fines well in excess of coverage that is available in the market place.

The ALS Group April 15, 2014

Enterprise Risk Management – Keep it Simple

Last week, I attended the Enterprise Risk Management (ERM) Workshop in North Carolina, held by North Carolina State University (NCSU). This was the second such meeting that was hosted by NCSU. While many topics were discussed, the recurring theme resonating through the workshop was how can a company effectively report an ERM program to the board and explain how such program adds value.

The ALS Group April 10, 2014

Contracts & Insurance – The Devil is in The Detail

The ALS Group April 8, 2014

How to Do Business Abroad in a Decade of Increasing Risk: Part 2

How to Design Directors & Officers Program That Protects Company’s Assets both in the United States and Abroad As we highlighted in Part 1 of doing business abroad, understanding the personal exposures of Directors and Officers is a challenge for today’s multinational companies. This is particularly important when you begin to contemplate company employees’ individual duties, the probability of potential lawsuits and the regulatory landscapes that can vary widely from country to country.

The ALS Group April 2, 2014

How to Do Business Abroad in a Decade of Increasing Risk

“US Executive Working Abroad Faces Charges Related to Protection Scam and Bribery” This headline means much more than embarrassment for the American company in its overseas operations. It means exposure to enormous financial liability if the foreign court finds the executive culpable, along with associated defense costs, even if the court finds the executive innocent of the charges.

The ALS Group March 20, 2014

Indemnity in Construction Contracts

Contracts, Insurance and Certificates…..the saga continues…. As a follow-up to my colleague’s recent post in Construction Executive, I wanted to emphasize the need for properly written contracts. In construction projects, the contract documents form the basis of the agreement between the parties involved in the project. Written construction contracts impose many duties, obligations and liabilities on contractors. Although project owners pay great attention to the operational issues addressed in these contracts, many pay too little attention to the risk and insurance implications of various contract provisions.

The ALS Group March 12, 2014

Fatal Gas Line Explosion – Would you Have Coverage if It Happened to You?

Earlier this week a fatal incident occurred at a housing development in Ewing New Jersey. According to the news reports, event was, allegedly, caused by contractor error when a 2 inch gas line was ruptured and ignited an explosion that killed one person and injured many others.

The ALS Group March 5, 2014

How to Prevent Internal Fraud from Crippling Your Organization

In its 2012 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) found that organizations typically lose five percent of their revenue to fraud each year. Even more frightening is this statistic from that report: the medium loss of survey respondents was $140,000. Over one-fifth of the losses studied exceeded $1 million. Small-to-medium sized businesses are often fraud targets because they lack anti-fraud controls. The smallest organizations in the ACFE study suffered the largest median losses.

The ALS Group February 14, 2014

A Contract Compliance Framework Can Reduce Risk

Monitoring insurance compliance in contracts is an important, albeit challenging, risk mitigation strategy. Read Al Sica’s recent article on the subject posted on Construction Executive Magazine website.

The ALS Group February 12, 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

Don’t Lose It Over a Data Breach

How to Do Business Abroad in a Decade of Increasing Risk: Part 3

Enterprise Risk Management – Keep it Simple

Contracts & Insurance – The Devil is in The Detail

How to Do Business Abroad in a Decade of Increasing Risk: Part 2

How to Do Business Abroad in a Decade of Increasing Risk

Indemnity in Construction Contracts

Fatal Gas Line Explosion – Would you Have Coverage if It Happened to You?

How to Prevent Internal Fraud from Crippling Your Organization

A Contract Compliance Framework Can Reduce Risk

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