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Risk Management Assessment
Company logo for “The ALS Group” featuring a stylized blue and white lightburst graphic
RMA

The ALS Group Risk Management Articles

We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe. 

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Total Cost of Risk (TCoR) – Strategies for Cost Savings

As part of any effective risk management program, the quantification of the Total Cost of Risk (“TCoR”) is an important number to focus on. This article focuses on how Workers Compensation (“WC”) costs contribute to a company’s TCoR and, specifically, how the Experience Modification (“X-MOD”) factor works and can be managed. We take TCoR seriously in our risk advisory practice as having a TCoR that is lower than a company’s peers gives that company a competitive advantage in, both, how it conducts its business and the opportunities it can pursue.

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The ALS Group April 21, 2020
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4 Cyber Security Tips for Businesses with Remote Workers

Most companies have been forced to quickly implement a remote work solution that suited essential employees or even the entire firm’s staff. This has exposed many companies network to new risks as everyone has a different set up at home. Some are using MACs, some using PCs, some have outdated operating systems and software while others are already infected with viruses or malware. 

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The ALS Group April 7, 2020
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Risks of Working from Home and Workers’ Compensation Policy

As Coronavirus spreads worldwide, companies are thinking of ways to keep productivity up, as well as, mitigate the risks to both their employees and the organization’s bottom line. One of the ways a company can manage this is to have its employees work from home. This can be a great way to keep your business running, but only if you can identify and manage the risks involved. This article from Insurance Business America does a great job in outlining potential Workers’ Compensation risks for employees who work from home, and what you can be doing to insure your business is prepared to manage those risks.

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The ALS Group March 3, 2020
Threats to Consider When Crafting a Social Media Risk Mitigation Plan

Threats to Consider When Crafting a Social Media Risk Mitigation Plan

  Over the last decade, social media has quickly become a prominent way for businesses to advertise, communicate, and educate. On the flip side, it can be a huge risk for those businesses that cannot keep up with the ever changing tools and trends in privacy, security, and marketing. We often see businesses and even public figures falling prey to social engineering scams, ransomware, hacking, and a multitude of other cyber risks. Luckily, with some planning and diligence, mitigating these risks can be quite simple. Below are examples of some threats as well as solutions you can implement now that will help protect your business from some of the most

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The ALS Group February 10, 2020
Cyber Risk Preparedness

Cyber Risk Preparedness

Given the widespread awareness of Cyber Risk and the increasing trend for companies to consider insurance around this exposure, a company’s preparedness for a Cyber risk related event should be a part of their risk management plan.  Unfortunately, for most organizations, this part of the plan has not been matured. That’s a mistake…

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The ALS Group July 16, 2019
Underrated Small Business Threats and How to Safeguard Against Them

5 Underrated Small Business Threats and How to Safeguard Against Them

  Most small business owners have at least some knowledge of the risks they face. Likely their insurance broker has educated them on some basic coverage for workers compensation, property damage, and business interruption to name a few. But several other potential exposures exist that, if left unaddressed, can mean massive and unncessary risk for a small business. As a company grows, so too does its risk. Business owners therefore would be well served to understand exactly what risks they face, how their specific industry affects their situation, and what they can do about it. Never be blindsided by a seemingly unforeseen issue. Visualize worst case scenarios so you can

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The ALS Group June 23, 2017
Enterprise Risk Management | Monitor, Measure, and Evolve

Enterprise Risk Management | Monitor, Measure, and Evolve

In our previous posts on Enterprise Risk Management (ERM), we defined ERM and addressed how to set up the program and use it to assess and treat risks. We have come a long way! In this post, we evaluate the program. ERM is not a static program. An effective approach to evaluating and enhancing the performance is a three-part one: measure, monitor and, most importantly, evolve.

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The ALS Group May 25, 2017
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Trump’s Cybersecurity Exec Order: Businesses Should Follow the Lead

What does the new order do? On May 11th 2017, President Trump issued the new, signed cyber security executive order that demands each federal agency and department head will be held accountable for cyber security risk to their enterprises; an initiative to better protect the federal government’s critical data and systems. It outlines the cyber-risk reporting requirements that they must adhere to and names the framework that they’ll use as the standard.

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The ALS Group May 17, 2017
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WannaCry Ransomware Attack: Key Healthcare Data Security Takeaways

Source: The New York Times   Though there’s currently no evidence that patient data was breached in last week’s massive cyber attack on UK hospitals, the news sent shock waves around the globe. The ransomware used in the attack, known as “WanaCrypt0r 2.0” or “WannaCry,” disrupted health services and ambulance transports at several hospitals throughout England.

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The ALS Group May 16, 2017

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