We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
One of the most misunderstood areas of the insurance business is claims handling. Often mishandled, this function is the reason companies buy insurance. To be certain the following four key elements are being managed effectively, there are several points to remember when evaluating your claims management program:
The ALS Group hired to provide insurance and risk management consulting for the new $275 million state of the art facility The ALS Group announces its selection as the project risk management consultant for the Miami Science Museum. Expected to be completed by 2014, the $275 million museum will break ground later this year. The ALS Group will work directly with the Museum Executives throughout the construction process to identify and manage the material project risks and craft appropriate insurance and risk management solutions. “Our goal is to prevent any unexpected and unnecessary financial impact to the Museum. A great deal of planning went into this project and every dollar
A recent article in the Wall Street Journal on May 26, 2011, discusses how the federal government and a New York real-estate company are negotiating to settle suspected federal housing discrimination violations that impacted the disabled.
An article published in the Wall Street Journal on May 24, 2011, illustrates the economic losses Sony Corporation faces due to the impact on its supply chain from the disaster in Japan and the hacking of its PlayStation Network. Both the tsunami and earthquake hurt Sony’s financial performance, which led it to announce an expected annual loss of $3.2 billion this year. In addition, its PlayStation Network also suffered a massive cyber attack. Hackers breached over 100 million user accounts worldwide, stealing private customer information. Sony consumers were unable to utilize their PlayStation gaming systems and Sony must manage the ensuing risks associated with the intrusion. It is expected that
Having reviewed various contracts for the NYACP Promotion Fund, we wanted to highlight a contracting practice that has become somewhat commonplace. Prime Contractors (GC/CM) are using language in their subcontracts that “incorporate by reference” the terms they have agreed to with the Owner in their contract (the “Prime” contract). The problem is that, in most cases, these Prime contracts are not available for review and the subcontractor overlooks implications that may arise from this reference and just blindly signs off on the contract. The following is language from a specific clause that we reviewed and commented on:
Lawyers for President Obama went to court in Virginia on Tuesday May 10, 2011 to defend a key piece of healthcare reform legislation. The individual mandate requiring Americans to purchase health insurance starting in 2014 is being challenged and deemed unconstitutional. To illustrate how volatile healthcare reform has become one can look at the ongoing court case citing the cornerstone of reform as unconstitutional, efforts by republicans to repeal the entire Affordable Care Act, and the continuous changes to already existing legislation. Consequently, it is critical to stay informed and understand where health reform is headed. To learn more about the latest changes to healthcare reform legislation, the financial implications
The most effective claims management programs have four elements in common:
Al Sica is speaking at Jersey Affordable Housing Management Association (JAHMA) on May 5th about “How to use claims management and legal strategies to reduce insurance claims cost.”JAHMA is committed to fair housing and believes in producing technical and professional education for agents, owners, staff and residents.The ALS Group is a member of JAHMA and advises on different topics affecting owners of affordable housing apartments insurance, claims and risk management.
As a continuation to the ongoing discussion regarding Supply Chain Risk that has become part of the mainstream media focus today, some basic research allows us to see that a year ago these topics were being spoken about. Obviously, the recent natural disasters have made them ever more relevant. FM Global recently re-released their 4/2010 piece on supply chain which merits a read. It describes tools for increasing supply chain resiliency and implementing strategies that mitigate risk in efficient, cost-effective ways.
An article in the Wall Street Journal on March 29, 2011 underscores even the largest of companies, like Apple, can experience challenges with their Supply Chain. With recent world events the risk a company can experience from their supply chain is firmly in focus. Having a resilient supply chain, which ultimately leads to a lower Total Cost of Risk (TCoR), is something the biggest and smallest of companies need to consider.
Our areas of expertise include:
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information: [email protected]
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information : [email protected]
New Jersey
175 Main St
Woodbridge, NJ 07095
Tel: +1-732-395-4250
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
