The ALS Group Risk Management Articles

A recent Wall Street Journal article highlighted the differences in safety records between small and large drilling companies.  Essentially, the large drilling companies (i.e. market cap in excess of $50 billion) realized a 183% reduction in safety violations per rig drilled compared to small companies (i.e. those with a market cap of less than $2 billion).  While it is tempting to take the viewpoint that “bigger is always better”, in this case that is not necessarily true.  There are some small drilling companies with outstanding safety records (some actually performing better than the “big boys”).  The question is, “What did their management team do to drive great results from operations?”

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.

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.