The ALS Group Risk Management Articles

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.

Nothing illustrates the importance of managing risk more than a recent case of Bruckmann, Rosser Sherrill & Co., L.P. v. Marsh USA, Inc. In this case plaintiff BRS (a private equity firm) discovered that due to a provision in their D & O policy they would not have full access to the limits of liability they purchased to pay a settlement. This limitation occurred due to the inclusion of what is commonly called a “tie-in” provision, also referred to as an “anti-stacking” provision on Bruckmann’s D & O policy.

MOTHER & SON TEAM ACCUSED OF STEALING $16 MILLION FROM SMALL FIRM Recently two New York City based textile companies fell victim to the embezzlement of $16 million by their trusted bookkeeper of over two decades. As reported in the New York Times article on June 24th, company checks were used to funnel money into a bank account controlled by the employee’s son.