The ALS Group Risk Management Articles

As part of Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law on July 21, 2010 the Federal Insurance Office (FIO) is a new agency within the Department of Treasury. This office was designed to provide expertise at the Federal Level since, currently, all insurance regulation and enforcement is governed state by state.

The recent article in CFO magazine highlights a potential mine field for employers. In mid 2011, I wrote about the subject, the reasonableness of plan fees and the fiduciary responsibility sponsors have for their prudent management.  Shortly, the Department of Labor will require specific fee disclosures which may send shock waves to participants already depressed at lackluster returns.

2011 was one of the most challenging years for many business owners and will be one of the most costly for insurers. Losses from insured natural have exceeded $100 billion for 2011 undoubtedly triggering an opportunistic response from insurers. This on top of the increased scrutiny from stakeholders has put company senior leadership in the “hot seat” to be vigilant to mange risk appropriately. Company’s are still struggling under difficult economic times and need to be aware of and strive to manage their Total Cost of Risk (TCoR).

Last year we released an article that outlined the dangers Property Owners face from slip and falls on their property resulting from improper removal of ice and snow. This is one of the unfortunate aspects of winter in the Northeast.

Trying to insulate yourself from downstream risk is always a suggested (if not arduous) Risk Management Best Practice. In the attached Rough Notes article regarding Vassar College, there are a few twists and turns to take note of.