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Risk Management Assessment
Company logo for “The ALS Group” featuring a stylized blue and white lightburst graphic
RMA

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. 

A Proactive Approach on Risk

An article published in the Wall Street Journal on May 24, 2011, illustrates the economic losses Sony Corporation faces due to the impact on its supply chain from the disaster in Japan and the hacking of its PlayStation Network. Both the tsunami and earthquake hurt Sony’s financial performance, which led it to announce an expected annual loss of $3.2 billion this year. In addition, its PlayStation Network also suffered a massive cyber attack. Hackers breached over 100 million user accounts worldwide, stealing private customer information. Sony consumers were unable to utilize their PlayStation gaming systems and Sony must manage the ensuing risks associated with the intrusion. It is expected that

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The ALS Group June 3, 2011

Contractual Liability: Flow Down and Incorporated by Reference Clauses

Having reviewed various contracts for the NYACP Promotion Fund, we wanted to highlight a contracting practice that has become somewhat commonplace. Prime Contractors (GC/CM) are using language in their subcontracts that “incorporate by reference” the terms they have agreed to with the Owner in their contract (the “Prime” contract). The problem is that, in most cases, these Prime contracts are not available for review and the subcontractor overlooks implications that may arise from this reference and just blindly signs off on the contract. The following is language from a specific clause that we reviewed and commented on:

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The ALS Group May 31, 2011

OCIP/CCIP Enrollment – Contractor Beware!

Controlled Insurance Programs (CIP) are becoming more and more common today but a contractor must be very careful to examine the terms and conditions of the CIP carefully as this may be their sole source of coverage. One of the most misunderstood issues is what happens when a CIP is cancelled. Virtually every CIP program has a section in the “manual” that allows for the program to be cancelled with some notice (hopefully) to the contractor. In many cases it could be a short as 30 days. What happens to the bid-deducts? Can you now submit a change order to increase your cost to Include insurance? Does the work you

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The ALS Group March 16, 2011

Don’t Let Snow Removal Claims Bury You: Key Risk Transfer Tips

As winter approaches, it’s time to ensure that your snow removal contractor agreements are set and, more importantly, that your risk transfer strategy is airtight. Liability claims resulting from the “improper removal of snow and ice” are not only frequent but can also be incredibly costly. Many of these claims stem from elderly individuals sustaining severe injuries from slips and falls, often resulting in long-term or permanent consequences. In other words, BIG CLAIMS. Whether you own a manufacturing facility, manage a building, or oversee a property with parking lots, sidewalks, or pedestrian areas that require snow and ice removal, there are some key things to keep in mind to avoid

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The ALS Group December 2, 2010

Landlords May Be Forced to Make Changes to Their Buildings in Compliance With FHA-ADA Guidelines

An article in the Wall Street Journal, dated October 22, 2010, reported that The Avalon on Chrystie Place settled with the U.S. Attorney’s Office for $2.2 million, to cover discrimination claims made by persons with disabilities because of failure to abide by FHA Guidelines set in 1991. The Avalon is just one of eleven developers facing civil action regarding discrimination against disabled persons. Other Owners/Landlords/Building Managers across the country are facing heavy costs in order to make their buildings compliant with the 1991 Fair Housing Act. A thorough Risk Management Assessment can help identify and mitigate risks for both first and third party exposures.

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The ALS Group November 1, 2010

Controlled Insurance Programs (CIP) – Do You Really Have Coverage?

Over the last 10 years the advent of an Owner Controlled Insurance Program (OCIP) has gained popularity for many reasons. Theoretically, buying one Program for the benefit of all parties to the Project provides cost efficiency and ease of claims administration. There is reduced “finger pointing” among [contractor] insurers and “control” of the site generally improves.

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The ALS Group October 10, 2010

The Staggering Cost of Identity Theft

The Federal Bureau of Investigation (FBI) reports that identity theft is the fastest growing crime in the United States. It is also the number one consumer complaint received by the Federal Trade Commission, accounting for approximately 255,565 complaints in 2008. In addition, more than 30 states have enacted legislation requiring companies to notify consumers if their personal information may have been compromised. Even in states where notification is not required by law, failure to notify an individual of a potential identity breach may result in severe civil, regulatory and legal liability costs, as well as potential damage to a company’s reputation and loss of consumer confidence. Nearly 10 million Americans

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The ALS Group February 3, 2010

Does an Economic Recession equal Compromised Safety?

Background The current economy and the most recent recession have been the worst economic times since the great depression. With companies trying to find ways to survive, there are no sacred cows when it comes to cutting costs. Layoffs, outsourcing, and doing more with less are all strategies that businesses are employing to survive. While the need to cut costs is understandable it is, unfortunate, one of the strategies many companies are using is cutting back on their safety program.

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The ALS Group December 11, 2009

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