We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffet
The world economy is becoming even more global and with that, exposure to risks posed to employees traveling abroad continues to grow; thus it becomes ever more apparent that any company should take a more 3-dimensional approach to risk. This means that as your employees travel abroad in order to bring in more business, Senior Management must also consider how they [employees] are protected.
To continue the discussion of Enterprise Risk Management (ERM) and its role within the business world The ALS Group held its second ERM meeting to discuss recent articles that show the influence of ERM today in business. One periodical that often speaks of ERM is Rough Notes. This week’s discussion revolved around The Institutes update of the ARM course curriculum to include ERM into its material; see here for the article written by Michael Moody.
Many mid-market employers are becoming increasingly concerned regarding the rising costs of workers compensation coverage in the hardening insurance market. These cost increases combined with uncertainty over the magnitude of cost increases related to implementation of the Patient Portability and Affordable Care Act (aka Obamacare) have employers scrambling to identify alternatives to reduce cost going forward.
I read an interesting article in this month’s Claims Management magazine about claim letter templates. The article was fairly lengthy and discussed how to improve and organize templates to add to claims efficiency (for the carrier). Makes sense, right? Well, maybe…
It seems like everyone is talking about Enterprise Risk Management (ERM) these days, but the question has become: what is anyone doing to further understand how ERM can provide the strategic value that everyone is writing about? One initiative that we at The ALS Group kicked off last Friday is our bi-monthly ERM Work Group meeting where our entire team (and occasionally guests) meet to discuss how ERM is being conveyed to senior level executives through organizations like RIMS and CFO magazine to name a few.
New York City construction activity has seen a re-birth with the city accounting for nearly half of the country’s commercial construction activity. A major part of that is the World Trade Center construction but there are other major projects being undertaken such as the renovation of Madison Square Garden and the 10 and 20 year capital construction programs of Columbia University and NYU.
Businesses today face many challenges managing their risk; one area of increasing concern is the risks associated with cross-border transactions, which seem to be at an all time high. The procedures and steps organizations face when conducting business internationally are continually becoming more complex. An article by Country Risk Solutions, Managing Political Risk in the New Normal, shows how the rules of engagement for conducting international business have changed.
To begin the year of 2013, more and more businesses are looking for new ways to increase their company’s profit margins and management of risk, and align the two. One of the best ways this is often achieved is by using ERM to continually assess not only what type of risks are out there that can be insured, but also how those risks can be managed through the operational and strategic environment that your company implements.
As most insurance and risk management professionals are aware, Worker’s Compensation market conditions have been relatively soft over the past few years. A recent article in Business Insurance predicts Workers Compensation will be one of the coverages that will go up in price along with most primary and excess policy layers for 2013; most impacted will be the Worker’s Compensation insurance. Looking toward the future and what 2013 holds is going to have a strategic impact on a company’s overall budget as well as the options they will have at renewal time. Companies have been able to supplement their low premiums by purchasing a higher retention policy and relying heavily
Our areas of expertise include:
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information: [email protected]
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
At The ALS Group, we help clients achieve their strategic goals via expert and insightful identification, quantification, and mitigation of the risks that could impact their business, or present opportunities for it.
More Information : [email protected]
New Jersey
175 Main St
Woodbridge, NJ 07095
Tel: +1-732-395-4250
Florida
1800 NW Corporate Blvd Ste 202
Boca Raton, FL 33431
Tel: +1-561-437-0024
