Employers Beware of the Rising Health Care Costs

Employers should be concerned about the possibility of higher health care costs in 2014. Depending on the industry, some employers may be hit with premium increases and could possibly see penalties. For instance, employers in the hospitality sector such as retail and restaurant industries could see average increases of 60 percent in their health care costs. According to a report last month from the Society of Actuaries, the reasons for these increases are being attributed to the greater use of health care services by individuals who had previously had no coverage, and they further predict that the claims costs could increase by another 32% as early as 2017.

The ALS Group April 25, 2013

Workers Compensation Rating Change Is Here – Were You Prepared?

In January of this year the National Council on Compensation Insurance (NCCI) changed the methodology of determining an individual employer’s experience modification factor. In a blog published in July of last year, we warned our Clients and Friends of the Firm about the upcoming change and significant impact it may have on their workers’ compensation premiums. In the same blog we explained how a company’s loss history will impact premiums for at least three (3) years after losses occur.

The ALS Group April 17, 2013

BYOD | “and the (risks) just keep on coming…”

So, I changed the famous line a bit so we can all remember that changing to a Bring Your Own Device (BYOD) policy needs to be a well thought out plan for organization of any size. There are a myriad of risks that must to be addressed, not the least of which is cyber risks from downloading a malicious malware program disguised as a “cool application”

The ALS Group April 16, 2013

Ten Quick Methods to Boost Workplace Safety

Many senior leaders look for a mythical “silver bullet” to improve the effectiveness of their Safety Program without recognizing that they can be the catalyst as the key safety “champions” in the company. By setting the proper “tone at the top”, senior leaders can establish safety as a priority for managers across the company. Managers are not only who the employees look to for leadership and guidance, but the ones front-line supervisors rely on to provide safety training, enforce safety rules, and help monitor employee performance. It’s a big responsibility, but these ten simple, easy-to-implement suggestions can help.

The ALS Group April 10, 2013

Are You Prepared to Handle a Cyber Breach Investigation?

Imagine a hacker infiltrated your website; the names, contact information, credit cards and social security information of every customer (and/or employee) are now being sold on the cyber-crime black market. Your website is no longer accessible, your overall reputation is tarnished and your company may possibly never recover. This has been the reality for many businesses. The “risk mitigation” steps to avoid these events are where the focus really needs to be placed. Buying insurance, while nice, will not insulate the Company from all the “nasty” things that will likely occur from a data or privacy breach.

The ALS Group April 4, 2013

Long-term Care Insurance – Not All Policies Are Created Equal

Many Baby-Boomers have helped one or more of their parents with the difficult emotional and financial decisions related to long-term continuing care. While Medicare covers skilled nursing care, it does not pay for continuing care in nursing homes or assisted-living facilities. Nor does Medicare pay for home attendants, who provide personal care, such as bathing and dressing, which can easily cost $500 or more a day. In response to their financial advisor’s recommendations and their involvement with their parent’s experience(s), many “Boomers” have purchased long-term care insurance to cover a significant percentage of these costs.

The ALS Group March 28, 2013

Crisis Response Planning

Last week we spoke about the importance of reputational risk management. We offered you some tips on what you can do to be proactive and actively seek out and be informed on what is being said about your organization. Now, you can monitor and measure all you want, but eventually, a crisis will occur, and the purpose of this post is to advise you on what to do when something does actually happen. Of course, all crisis response plans should be tailored and unique to your specific organization’s culture, goals and problem. A 2005 survey of senior risk managers by the Economist Intelligence Unit found that less than half of

The ALS Group March 27, 2013

Recovering From Reputational Risk Is Harder Than Building A Reputation – How Are You Guarding Your Firm’s Reputation?

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffet

The ALS Group March 21, 2013

US Cyber Terrorism – How Is Your Company Responding?

Cyber threats are a hot topic now and seem to be on news coverage everyday, but what does that mean for your business? These cyber threats may not seem serious (for YOUR company) until they directly affect your business, and if they do, you will realize very quickly how much damage these attacks can cause. If your business uses computers or the internet in any capacity you’re vulnerable to cyber attacks. While the use of technology in the work place continues to rise along with productivity, so does the number of access points for hackers.

The ALS Group March 20, 2013

Human Capital Risk Abroad: How to Protect Your Employees Abroad

The world economy is becoming even more global and with that, exposure to risks posed to employees traveling abroad continues to grow; thus it becomes ever more apparent that any company should take a more 3-dimensional approach to risk. This means that as your employees travel abroad in order to bring in more business, Senior Management must also consider how they [employees] are protected.

The ALS Group March 19, 2013

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

Employers Beware of the Rising Health Care Costs

Workers Compensation Rating Change Is Here – Were You Prepared?

BYOD | “and the (risks) just keep on coming…”

Ten Quick Methods to Boost Workplace Safety

Are You Prepared to Handle a Cyber Breach Investigation?

Long-term Care Insurance – Not All Policies Are Created Equal

Crisis Response Planning

Recovering From Reputational Risk Is Harder Than Building A Reputation – How Are You Guarding Your Firm’s Reputation?

US Cyber Terrorism – How Is Your Company Responding?

Human Capital Risk Abroad: How to Protect Your Employees Abroad

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