Two individuals shake hands, indicating a critical discussion about insurance and risk management.

Builders Risk Insurance An Often Misunderstood Coverage

When a company starts a construction or renovation project the subject of Builders Risk Insurance comes up. It could be when the Construction Management Agreement (CMA) is being drafted or when reviewing lender insurance requirements, but it is bound to happen. Builders’ Risk is a “quirky” coverage in that it is written on non-standard form, covers a variety of exposures, and the terms of coverage generally not well understood by insurance professionals that do not specialize in construction insurance. So, as an Owner, what to do? Well, first thing is to understand what you want to cover. Builders’ Risk has three major coverage areas that can be included: Each area

The ALS Group February 21, 2024

collapsed crane lying across a city street on a rainy day, highlighting the critical importance of risk management in construction.

Crane Collapse Incidents and Lessons for Risk Management in Construction

While there is a bit of a pause in the construction development activity these days, there is some recent news out of New York and Texas regarding crane safety. Tuesday, January 9th, a crane collapsed in Manhattan injuring five people. According to the FDNY, four of the victim’s injuries were described to be minor, and one person was left with serious, but not life-threatening injuries. https://gothamist.com/news/5-injured-in-manhattan-crane-collapse-fdny-says In regards to the Texas Crane Collapse of 2019, a Dallas jury has awarded more than $860 Million to the family of one of the victims of the collapse. This is a solemn reminder of how important proper safety and controls are on any

The ALS Group January 16, 2024

Black and white New Year promotion banner from The ALS Group, a leading risk advisory firm in Florida.

New Year, New Leadership: Elevating Risk Management at The ALS Group

The ALS Group is thrilled to announce promotions for our risk management team. These promotions reflect our commitment to excellence in the risk management industry and underscore our dedication to recognizing and rewarding leadership qualities and innovative thinking in our associates as well as our dedication to growing and developing the next generation of leaders. Strategic Promotions within The ALS Group in 2024 We are proud to congratulate the following individuals for their well-deserved promotions, highlighting their exceptional contributions to the business: At The ALS Group, we believe that the essence of effective risk management lies not only in professional expertise but also in the integrity and character of our

The ALS Group January 5, 2024

Person shoveling snow with a red shovel, wearing black pants and boots

What is your Snowstorm Response Plan

US weather patterns continue to be unpredictable and the Northeast is getting its first taste of snow, so I thought it would be good to reinforce how important it is to have a comprehensive storm response plan.Snowstorms can cause a variety of problems such as, power outages, pipe bursts, and inaccessible roadways for many residents and businesses throughout the U.S. Alternatively, businesses that have remote workers must also deal with issues pertaining to widespread residential outages which can serve as a major disruption for employees with home offices. So, what can you do? If you need more information on any of the topics covered in this blog, or need help

The ALS Group December 13, 2023

A column of flames rises from a metal container on a stand

Thanksgiving- Roast Your Turkey- Please

Thanksgiving is just around the corner. We all know this is a time for getting together and enjoying a meal with family and friends.

The ALS Group December 12, 2023

Silhouetted cranes and machinery work at a port under a dramatic sky with heavy cloud cover.

Hurricane Preparedness For Businesses: A Comprehensive Guide

Hurricanes are one of the most destructive forces of nature, and businesses located in hurricane-prone areas, particularly along the Atlantic coast, must prepare for the inevitable impact of these storms. While we often think of hurricanes in terms of immediate physical damage, the ripple effects—like prolonged power outages, loss of internet, and disruptions to supply chains—can cripple business operations for extended periods. Preparing your business before hurricane season can mitigate potential risks, reduce financial loss, and ensure faster recovery.

The ALS Group August 15, 2023

Hired and Non-Owned Automobile Coverage – “but I have no autos”

An often misunderstood insurance coverage that is very important for a business, is Hired and Non-Owned Automobile (“HNOA”) coverage. Most of the time, the company that is considering such coverage doesn’t think it has exposure to this particular risk since they do not own any automobiles. This could not be further from the truth… Recently, there was a tragic accident in NYC Times Square, where a delivery vehicle on its way to a jobsite fatally injured a pedestrian. So, here’s what will, most likely, happen…the family of the deceased would, surely, look to the driver of the vehicle and the company that owns it for compensation. Unfortunately, that’s not it, they [the

The ALS Group November 7, 2022

New Commercial Property Endorsement Can Mean Problems for Landlords

The discovery of methamphetamine labs is an ongoing issue across the United States, with National Public Radio reporting that around 300 meth labs are found each week. If you own or manage rental properties like apartments, hotels, or boarding homes, there’s a chance that one of your tenants could turn your property into a meth lab—leading to substantial damage and clean-up costs. And with recent changes in commercial property insurance, you may face even more challenges when trying to mitigate these risks. Meth Labs and Your Commercial Property Insurance: What’s Changed? Since 2013, a new endorsement, Exclusion of Loss Due to By-Products of Production or Processing Operations (Rental Properties) (form

The ALS Group September 5, 2022

L&L Secures Financing Package for 425 Park Avenue

The ALS Team congratulates our client, L&L Holding Company, on completing $9111.4 million financing on the iconic 47-story office tower at 425 Park Avenue. The finance package, obtained through a consortium of lenders led by Blackstone Real Estate Debt Strategies, replaces 425 Park’s original construction loan and will cover the final stages of the project, including full lease-up, prior to being replaced by permanent financing. We are proud to have had the opportunity to support risk management needs of L&L Holding Company on this project!

The ALS Group December 22, 2021

Red padlock with the word "Ransomware" in white over a blue background filled with binary code.

CISA/FBI Holiday Cyber Advisory

As air travel for the upcoming Thanksgiving weekend spiked to pre-pandemic levels and AAA estimates over 53 million people will hit the road this holiday, the Cybersecurity & Infrastructure Security Agency (CISA) and FBI issued an advisory yesterday, warning critical infrastructure partners that malicious cyber actors tend to strike during holiday weekends. “Although neither CISA nor the FBI currently have identified any specific threats, recent 2021 trends show malicious cyber actors launching serious and impactful ransomware attacks during holidays and weekends.” This advisory, once again, emphasizes the importance of organizations being vigilant and taking proactive measures to minimize the risk and impact of a potential cyber-attack, which, based on 2021 trends, seems

The ALS Group November 23, 2021

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

Builders Risk Insurance An Often Misunderstood Coverage

Crane Collapse Incidents and Lessons for Risk Management in Construction

New Year, New Leadership: Elevating Risk Management at The ALS Group

What is your Snowstorm Response Plan

Thanksgiving- Roast Your Turkey- Please

Hurricane Preparedness For Businesses: A Comprehensive Guide

Hired and Non-Owned Automobile Coverage – “but I have no autos”

New Commercial Property Endorsement Can Mean Problems for Landlords

L&L Secures Financing Package for 425 Park Avenue

CISA/FBI Holiday Cyber Advisory

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