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To achieve business objectives a client needs the protection provided through proven risk management principles and techniques. Risk Management is the human activity which integrates the recognition of risk, risk assessment, developing strategies to manage it, and mitigation of risk using managerial or insurance broker/company resources. It involves a thorough evaluation of the risks of doing business and developing a set of procedures to mitigate the potential damage of a loss or series of losses.
Our risk management process includes the following:
- Review of operating procedures
- Analysis and identification of exposures
- Review of existing insurance policies
- Analysis of company history including claims, insurance carrier and insurance costs
- Analysis of alternatives
- Risk retention/assumption
- Risk transfer
- Risk elimination
- Loss control analysis
- Carrier alignment with company needs
- Property values
- Liability limit review
- Management recommendations and plans
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