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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. 

Is it as Easy as 1-2-3?: Implementing Enterprise Risk Management

Enterprise Risk Management, despite being on the tip of the risk and insurance world’s tongue, is still struggling to gain a foothold in most organizations.  The question that consistently emerges is whether or not implementing an Enterprise Risk Management Framework can truly add value to a company’s strategic development.  The key to a successful ERM Framework is to instill the philosophies of Enterprise Risk Management throughout the organization so the company as a whole is fostering a risk-aware culture.

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The ALS Group November 21, 2012

Be a Wise Cyber Insurance Shopper

With the lack of policy standardization and various exposures within the cyber insurance world, purchasing a cyber policy can be challenging.  The first step in this process is to understand the risks your company is facing in the event of a breach, as well as your organization’s Total Cost of Risk (TCoR). After all, risk mitigation is more than just purchasing appropriate insurance.

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The ALS Group October 23, 2012

Risk Appetite and Risk Tolerance: It Takes Two to Tango

Risk Appetite and Risk Tolerance are two terms that are vital to any Enterprise Risk Management (ERM) Program. They are defined as the amount and type of risk an organization is willing to accept (Risk Appetite) and the specific maximum risk that any organization will take to pursue any one business objective (Risk Tolerance). The reason that ERM is defined by these two terms is that every company must take on some risk to reach its profit margins, but the ultimate question is, “How much risk are you going to take on and how are you identifying your key risks?”

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The ALS Group October 12, 2012

National Cyber Risk Awareness Month | Scare Risk Away in October

The beginning of October marks the start of the ninth annual National Cyber Security Awareness Month (NCSAM) – is your company prepared in the event of a disruptive computer virus, a damaging loss of data or an unexpected intrusion by computer hackers? As organizations increasingly incorporate the use of laptops, smartphones and tablet devices into the success of their businesses, the potential dangers of cyber risk become much more prevalent.

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The ALS Group October 12, 2012

Just How Far Can One Fire Spread?

On September 12th, calamity struck the Pakistani port city of Karachi when a fire broke out at the Ali Enterprises garment factory.  Hundreds of workers found themselves trapped inside the burning factory by locked doors, barred windows and only one open exit.  Panicky workers threw themselves from the four-story roof while those trapped below died of smoke inhalation.  All told, the fire claimed the lives of nearly 300 workers in a gruesome disaster reminiscent of the legendary Triangle Shirtwaist Factory Fire of 1911 in New York.

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The ALS Group October 9, 2012

Enterprise Risk Management: A Touchdown for Your Company’s Profits

Highlighted by a Questions and Answers article in the recent issue of Risk Management Magazine, Enterprise Risk Management (ERM) continues to gain exposure through the successes of companies that are taking the initiative to establish a firm ERM culture. The article, entitled “Creating Value with ERM”, looks at the success of Paychex, Inc., the company that received the inaugural “ERM Award of Distinction” last year. In what ways can this interview with Paychex’s Risk Manager relate to your company and allow for ERM to become embedded in your organization?

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The ALS Group September 7, 2012

RIMS and IIA | an Enterprise Risk Management Strategic Relationship

Risk Management used to be merely a wing that purchases insurance for multi-million dollar companies.  Over the years Risk Management has begun to evolve and play a more strategic role within a company.  This evolution is evidenced by companies’ adoption of Enterprise Risk Management (ERM) philosophies integrating them throughout organizations.  One example of such integration is the relationship that is developing between Internal Audit and the Risk Management departments.

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The ALS Group August 31, 2012

London Olympics and Enterprise Risk Management (ERM)

The recent London Olympic Games drew a total of over 219.4 million viewers over the course of 14 days. What people don’t realize is the way Risk Management factored into the success that was the 2012 London Olympics. In particular, the use of Strategic Risk Management was employed by the Olympics Organizers to evaluate and implement risk mitigation policies and procedures for the Games of which the general public was not even aware. A recent article by Will Jennings in Harvard Business Review, “The Olympics as a Story of Risk Management”, looks at the Games from a Risk Management perspective. The article reveals how the International Olympic Committee (IOC) evaluated

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The ALS Group August 22, 2012

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