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
- 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.
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
- 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.
- 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.