The ALS Group Risk Management Articles

Entertainment insurance provides coverage for the film industry and its producers. It is a large sub-section of the insurance and risk management world with its own unique exposures and coverages. The film industry in the United States is a big business generating $522 billion in revenue in 2013. According to Statista, that number is expected to rise to $632 billion in 2014. As revenue rises, so do film costs, with even “low budget” production costing several million dollars. These high costs bring high exposures! There are tight deadlines, a lot of moving parts and many people performing a variety of roles, both on the set and in the production offices.

As stated in my May Blog, there are many regulations an organization needs to implement and maintain in order to be in compliance with the Occupational Safety and Health Administration (OSHA) and avoid fines and risks associated with not being compliant.

Safety in the workplace is something that is often thought of relative to construction sites and manufacturing facilities.  However, it is just as important to focus on safety at an office as it is at a construction site.  business. Even the smallest details should not be overlooked, as the most insignificant accident could result in financial damage for both the owner individually, and the company as a whole.

Silica risk, resulting in silicosis, is not new and one familiar to many companies as the cutting, sawing, grinding, drilling and crushing of stone, rock, concrete, brick, block, mortar and industrial sand is part of their everyday business. Recently, the federal government announced they will seek to reduce the exposure-monitoring standards that will affect a significant amount of businesses and cost millions in additional compliance.

Ever eye a bowl of potato salad or plate of chicken that’s been sitting in the sun for hours and wonder if it’s still okay to eat?

The Terrorism Risk Insurance Act (TRIA) is a law that would help insurers cover losses for events that are designated as acts of terrorism and reach levels of insured damage in excess of $27.5 billion. This was in reaction to 9/11 and the impact that this had on the insurance industry. It was signed into law in 2002, renewed several times, and is once again set to expire on December 31, 2014.