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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. 

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

Total Cost of Risk – Part Two

What is it and why do I care? Part Two Why do I care about TCoR? The answer is, “why not?!” All of the costs that I have discussed above are bottom line costs. By tracking TCoR and designing a customized strategy to control these costs, savings can be realized on the bottom line. That means every dollar saved is a dollar of improvement in profit. Now what can I do with this information? Okay, now that you have tracked all these costs for at least the last two years, what’s next? As a Risk Manager, I would go through each of the strategies that the business has in place

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The ALS Group September 14, 2009

Total Cost of Risk

What is it, and why do I care? Part One “What gets measured… gets managed!” This statement is the fundamental principle behind the concept of “Total Cost of Risk” (TCoR), and I’ve been saying this for years. The question that I am asked all the time is, “what is TCoR and why do I care about it?” There is risk associated with everything we do in life. In today’s world, business risk and the ability to quantify that risk in dollars is increasingly important. The purpose of any risk management program is to manage enterprise wide risks, which will ultimately lead to a reduction of the total costs associated with these

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The ALS Group August 31, 2009

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