INSURANCE RISK-MANAGEMENT.
Risk Management in terms of the handling of risk is as old as life itself. Man has always been involved in taking risks and subsequent decisions related to risk management. Risk Management has developed out of insurance thanks to the insurance managers in the USA during the years after WWII. They came to realize that there was more to be gained from spending money on avoiding and reducing risks and on preventing and reducing loss compared to merely buying insurance.
AIMS OF RISK-MANAGEMENT.
Our mission is to increase our client's profitability and financial security by applying our professionalism to control and minimize the impact of susceptible risks/perils and design and arrange appropriate insurance covers.
WHY DO YOU NEED A RISK-MANAGER?
"Reliance on good engineering practices and application of approved standards and the certification and inspection regimes do not of themselves identify and highlight the hazards and consequences of events that can lead to a major hazard".Therefore, you need someone to assess your needs, which have no monetary interest in whether or not you buy a service or product. You need someone to help you address your needs in the most cost effective manner available. Often this can be accomplished through the contractual transfer of risk to another party. Your cost for this is often -0- in most cases, and in all others the cost is only a fraction of the cost of an insurance policy covering the same exposure.
You need someone that is infinitely familiar with the entire insurance market. Most agent/brokers see and know only a small portion of the products available from a limited number of companies.You need someone to take your best position and represent you aggressively in the matter of audits, claims, and mid term policy changes. Your risk manager represents only you, while your agent is a representative of one or more insurance companies.
You need someone to take the time consuming management of your entire insurance/risk management effort off your very valuable executive hands; still keeping you fully informed, so that you retain total control of the program. We will design a spread sheet of an on going information program, that lets you instantly assess the information you need for vital decisions.
You need an insurance risk management expert who knows much more than the so called expert who is attempting to sell you a product that you may or may not need.You need to control the cost of your insurance needs as surely as you need to control all other expenses. Your risk management consultant will maintain the coverage integrity at a cost of some 25% to 35% less than you are presently paying. The fee for this service is normally only a small fraction of the total of savings.
You not only need a risk management consultant, you can't afford to be without one. Your competitor most likely is using one to assure that the right coverage is in place at the right price, without tying up high priced executive labor.
