How to have a successful ERM process

A few weeks ago I attended the Enterprise Risk Management (ERM) Roundtable Summit held by NC State University. Although there were many speakers from a number of different industries, the same theme resonated throughout the day. The theme was, in order for any organization to have a successful ERM process it must foster thoughtful discussions between those who are tasked with ERM. As we have mentioned previously, it is easy for ERM to become just another “compliance check-box.” However, encouraging a challenging dialogue among team members can certainly help your organization move past the “check-box” mentality.

The ALS Group May 27, 2014

Risk Management and Safety

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.

The ALS Group May 20, 2014

Silica Risk – The New Asbestos

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.

The ALS Group May 13, 2014

Foodborne Illness Risk: Beware of the Potato Salad

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 ALS Group May 8, 2014

Current State of the Terrorism Risk Insurance Act

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.

The ALS Group April 29, 2014

ATV, Snowmobile, RV and Jet Ski Insurance: A Stand Alone Policy Is Best For Toys

Are you an owner of an ATV, snowmobile, jet ski or RV? Then you know the value of a good time. What is not so easily known is where to find the best insurance protection for your toys. Homeowners and Auto policies rarely cover both property and liability adequately for these types of vehicles. Therefore, in most cases, it is a best practice to procure a stand alone policy. A stand alone policy has the best safeguards in place to ensure proper coverage is in full effect. At a minimum, liability insurance is required in most states and relying on a Homeowners or Auto policy to provide the necessary coverage

The ALS Group April 22, 2014

How to Do Business Abroad in a Decade of Increasing Risk: Part 3

Doing Business Abroad: What’s Next? As we have highlighted in Part 1 and Part 2 of Doing Business Abroad, a company’s Directors and Officers can be exposed to a large number of risks overseas. One particular area that can often be overlooked is developing and implementing solid policies and procedures for protection from the Foreign Corrupt Practices Act as well as the UK Bribery Act. Directors & Officers Liability policy does provide some mitigation for this risk, however, the cost for violating these laws could cause irreparable harm to your company including paying fines well in excess of coverage that is available in the market place.

The ALS Group April 15, 2014

Enterprise Risk Management – Keep it Simple

Last week, I attended the Enterprise Risk Management (ERM) Workshop in North Carolina, held by North Carolina State University (NCSU). This was the second such meeting that was hosted by NCSU. While many topics were discussed, the recurring theme resonating through the workshop was how can a company effectively report an ERM program to the board and explain how such program adds value.

The ALS Group April 10, 2014

How to Do Business Abroad in a Decade of Increasing Risk: Part 2

How to Design Directors & Officers Program That Protects Company’s Assets both in the United States and Abroad As we highlighted in Part 1 of doing business abroad, understanding the personal exposures of Directors and Officers is a challenge for today’s multinational companies. This is particularly important when you begin to contemplate company employees’ individual duties, the probability of potential lawsuits and the regulatory landscapes that can vary widely from country to country.

The ALS Group April 2, 2014

How to Do Business Abroad in a Decade of Increasing Risk

“US Executive Working Abroad Faces Charges Related to Protection Scam and Bribery” This headline means much more than embarrassment for the American company in its overseas operations. It means exposure to enormous financial liability if the foreign court finds the executive culpable, along with associated defense costs, even if the court finds the executive innocent of the charges.

The ALS Group March 20, 2014

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

How to have a successful ERM process

Risk Management and Safety

Silica Risk – The New Asbestos

Foodborne Illness Risk: Beware of the Potato Salad

Current State of the Terrorism Risk Insurance Act

ATV, Snowmobile, RV and Jet Ski Insurance: A Stand Alone Policy Is Best For Toys

How to Do Business Abroad in a Decade of Increasing Risk: Part 3

Enterprise Risk Management – Keep it Simple

How to Do Business Abroad in a Decade of Increasing Risk: Part 2

How to Do Business Abroad in a Decade of Increasing Risk

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