Adapting to an Aging Workforce: The Future of Workers’ Compensation Claims

People are living longer and with this comes a population that is aging. According to the World Health Organization (WHO), the population of those 60 years of age or older will total two billion by the year 2050. For comparison, in 2015 the 60+ population was 900 million. But what are the implications for the workforce and how will this impact employers’ and workers’ compensation (WC) claims? According to the Pew Research Center, people are now working and planning to work past the average retirement age of 65. The data shows that roughly one in five Americans aged 65 years old, were employed in 2023; The fastest-growing age group in

The ALS Group October 1, 2024

A Comprehensive Guide to Investigating and Reporting Workplace Accidents

Accidents that happen in the workplace often result in serious situations. Effectively investigating both accidents and near-misses is crucial to preventing future incidents. A well-structured accident investigation process not only helps you to understand what went wrong, but also to implement corrective actions, leading to overall improved safety. Below, we have detailed a comprehensive guide on how to report and investigate workplace accidents, from the initial fact-finding process to implementation of corrective measures. Key Considerations Fact-Finding Process for Event Reconstruction Gather Information This initial step is critical to determining facts and circumstances of the event. All relevant information about the accident or near miss is gathered, this includes collecting evidence

The ALS Group September 30, 2024

Implementing and Managing an Effective Accident Investigation Program

No one wants accidents to happen; but if an accident does occur, it is important to make changes so similar accidents do not occur in the future. Through a formal accident investigation procedure, organizations determine the root cause(s) of incidents and take action to prevent a recurrence. Conducting effective accident investigations is crucial for organizations that want to reduce workplace injuries and illnesses. If left unchecked, today’s near miss can become tomorrow’s accident or major disaster. Accident investigations have many benefits, including the ability to: To be able to benefit from the utilization of accident investigations, the fundamentals of the program should be integrated into the company’s written safety and

The ALS Group September 30, 2024

Contracts TCoR and ERM – How They Go Together

In the last chapter of our series, we introduced the concept of using a risk register and a materiality table to qualify and quantify risk exposures. Building on that foundation, this chapter focuses on how these tools can influence the Risk & Contract Review process. While, it may seem unconventional, to take a formal risk-based approach to contract reviews, doing so adds tremendous value by systematically identifying and addressing potential risks before contract execution. Before the advent of modern technology, organizations often relied on a “buck slip” process for document circulation and approval. A document would move from one manager to the next, gathering signatures as each reviewed and approved

The ALS Group September 24, 2024

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Notice of a Claim

Timeliness of notification is one of the most frequently litigated coverage issues within the claims process. It is often due to people not recognizing an event or occurrence as being a claim per the policy or unintentional delays in reporting. Delayed reporting can cause policyholders to run into significant issues, such as coverage concerns and evidence spoilage, which may lead to complete claim denial. This is illustrated in a recent New York court ruling, which held that a demand letter received met the definition of a claim per the policy. In this case, John Mellesmoen, an employee of Match Group, sent a letter demanding a settlement for compensation and damages

The ALS Group September 10, 2024

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Risk Management When Sending Your Kids to College

Sending your child to college is an exciting milestone, but it also comes with unique risks and challenges. As parents and guardians, it’s crucial to proactively address these potential issues to ensure your child’s safety and well-being. Throughout this article, we’ll explore the essential aspects of risk management you should consider when your child embarks on their college journey, such as understanding coverage, evaluating renter’s insurance, different types of policies to be aware of, as well as different safety measures you and your child should consider. Understanding Coverage: Am I Covered? The question of coverage can be complex, depending on factors like the age of the student, their relationship to

The ALS Group August 20, 2024

Illustration depicting a hand pointing to the words "Insurance Claim" surrounded by icons of a handshake, globe, and courthouse, capturing the essence of the Tradesman Lawsuit.

The Tradesman Lawsuit: Insurance Claims and Risk Management Awareness

The Tradesman Lawsuit: Insurance Claims and Risk Management Awareness Last month the employees of The ALS Group sat down with our Senior Consultant of Claims and Risk Services, Maggie Ingels, during a lunch and learn to hear about one of the largest lawsuits happening in the claims world right now, dubbed the “Tradesman Lawsuit”, which was filed March 1, 2024. The initial lawsuit filed by Roosevelt Road Re, LTD (Roosevelt) and its affiliate Tradesman Program Managers, LLC (Tradesman) alleges that the 46 named defendants took advantage of vulnerable immigrant construction workers to employ what the suit calls the “Fraudulent Treatment Protocol” and profited from the fraudulent scheme related to New

The ALS Group August 14, 2024

letters of the alphabet with the word liability. concept of liability.

Reducing General Liability Costs

Frequency and severity of the General Liability (GL) claims are on the rise, which is partially due to what any consider the abuse of the legal system as society continues to become more and more litigious. Many businesses are concerned with reducing increasing GL claims leveled against them, particularly within litigation. This is especially poignant in construction claims. A recent article, written by Mike Myers, Head of Construction at Safety National, discusses some of the cost drivers that are leading to increases, focusing on litigation costs.ENR April 29, 2024 Page 38 (bnpmedia.com) According to Myers, there are three major contributing factors for increased severity: To combat these as well as

The ALS Group July 23, 2024

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The Risk Management Plan – Identification & Measurement

This is the second chapter in a series of articles focused on strategies that should be part of any company’s risk management plan to, effectively, manage the Total Cost of Risk (“TCoR”). Our previous chapter on the subject introduced basic concepts in risk management: including risk identification and risk impact, Enterprise Risk Management (“ERM”), and how to, better, forecast and be prepared for “risk events”. This paper will focus on ways in which a company can capture and measure the impact of their major risks using a risk register. By creating a risk register, an organization will have a more structured framework to capture and measure the financial impact of

The ALS Group July 17, 2024

A person touches a shield icon hologram surrounded by binary code, symbolizing Smart Equipment Cybersecurity and data protection.

Construction Cybersecurity: Protecting Your Projects from Emerging Threats

The construction industry continues to evolve rapidly, with an increasing reliance on emerging technologies for equipment control, project management, and completion. As projects become more digitally connected, there are significant concerns regarding construction cybersecurity, particularly the security of “smart” equipment such as cranes and drones, as well as Software as a Service (SaaS) and Infrastructure as a Service (IaaS) systems (BIM software) used for project planning and management. Additionally, the utilization of interconnected systems by third parties, such as general contractors and subcontractors, to share and centralize sensitive data poses further cyber risks to projects, highlighting the need for robust construction cybersecurity measures. While these technological advancements enhance project efficiency,

The ALS Group July 9, 2024

Our areas of expertise include:

Enterprise Risk Management (ERM)
Cyber Security & Cyber Liability Insurance
Construction Management
Customized Risk Management Assessments (RMAs)

The ALS Group Risk Management Articles

Adapting to an Aging Workforce: The Future of Workers’ Compensation Claims

A Comprehensive Guide to Investigating and Reporting Workplace Accidents

Implementing and Managing an Effective Accident Investigation Program

Contracts TCoR and ERM – How They Go Together

Notice of a Claim

Risk Management When Sending Your Kids to College

The Tradesman Lawsuit: Insurance Claims and Risk Management Awareness

Reducing General Liability Costs

The Risk Management Plan – Identification & Measurement

Construction Cybersecurity: Protecting Your Projects from Emerging Threats

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Adapting to an Aging Workforce: The Future of Workers’ Compensation Claims

A Comprehensive Guide to Investigating and Reporting Workplace Accidents

Implementing and Managing an Effective Accident Investigation Program

Contracts TCoR and ERM – How They Go Together

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