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Risk Management Services

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RISK MANAGEMENT SERVICES

INSURANCE POLICY REVIEWS

We will conduct an in-depth review of your insurance policies and your insurable exposures to loss. This review results in an insurance audit summary with recommendations for improvements. Topics addressed in the report include:

  • discrepancies between proposed coverage and the actual coverage
  • duplicate areas of coverage
  • gaps between policies
  • premium competitiveness
  • property valuation
  • coverage deficiencies
  • liability limits
  • deductibles
  • purchasing suggestions

COMPETITIVE BIDDING PROCESS

  • We can tailor a set of insurance specifications for you or provide you with an "off-the-shelf" version for your modification.

INSURANCE PROPOSAL EVALUATIONS

  • The Property & Casualty marketplace is in a near crisis mode. Premiums have skyrocketed and coverages are becoming restricted.
  • Buyers of insurance are wise to retain a consultant to prepare insurance specifications, evaluate proposals, and negotiate among the insurers for enhancements.
  • The market for Employee Benefits coverage is complex; several of the nations largest insurers and HMOs have merged.
  • Employers who solicit medical insurance proposals in response to rate increases are generally coming out ahead of those who do not.

PERFORMANCE REVIEWS

We can provide the following types of performance reviews:

  • Internal administration of your insurance plan
  • Third-Party Claim Administrators
  • Administration of Insurance Certificates
  • Agent/Broker Services

CONTRACTUAL INSURANCE REQUIREMENTS

  • Insurance requirements should be tailored to protect you and should be enforced.
  • We can review "insurance requirements" in contracts that you plan to execute.
  • We can review Certificates of Insurance to determine if they comply with the insurance requirements.
  • We can instruct your staff how to properly manage Certificate of Insurance

SECOND OPINIONS

  • Clients often turn to us to "bounce off" ideas about their insurance programs.
  • We are in position to discuss the "upside" and the "downside" of most insurance issues.

PART-TIME RISK MANAGER

  • We can serve an "out-sourced" Risk Manager on an on-going basis for clients that cannot justify the expense of employing a risk manger.
  • This service keeps us familiar with your insurance program and in position to advise you of new trends and opportunities in the insurance marketplace.

NEGOTIATION SKILLS

  • Insurance buying should include "negotiation" to get the best pricing and coverage.
  • Working through agents and underwriters, we routinely negotiate better terms for our clients.

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