Are your existing risk management systems providing you with the protection you need?
As experts in identifying and providing risk management solutions, our Risk Management division is dedicated to reducing total cost of risk in the hazard lines of property/casualty insurance. Our professional staff works together to address not only pre-loss and point of loss, but also post-loss issues as well. The integration of "best practices" brings about an efficient and effective Risk Management Program. Our methodology can involve up to five phases depending upon client need:
- Risk identification
- Risk measurement
- Risk management objectives
- Action planning - solution generation
- Monitor, adjust, improve
We can help you identify the strengths and weaknesses of existing risk management systems and assist in establishing benchmarks, developing and modifying loss control programs, evaluating the claims management process, and providing assistance to reduce your exposure to loss and claim dollars after a loss has occurred.
By coordinating with your insurance company and its resources, we can direct and provide the degree of services needed to impact your loss exposures and, ultimately, insurance premiums. Our available services include:
- Safety and Loss Control
Our professional loss control and injury management staff will assist with the development and implementation of on-site safety programs, committees and disaster planning guidelines, and help your employee relations area understand and comply with OSHA and other federal regulations. There is also an initial risk management self-evaluation that includes assistance in the formulation of measurable loss control objectives, an action plan to meet these objectives, and a clear analysis of your current risk management program's strengths and weaknesses.
Our RMSD database tracks activities, progress, budget, and can create an up-to-date Stewardship Report at any time for status and management reporting.
- Claim Management
Even with the best loss control practices, claims still occur. When they do, our Claim Consultants are available to assist you in obtaining recoveries and reimbursements as well as reducing claim reserves to lower dollars spent. We will review claim and loss reports for accuracy to ensure that reserves are established at fair and reasonable levels. We will also initiate discussions with insurance companies to reduce reserves we believe are excessive. Our Claim Consultants can assist in the development of claim procedures and provide information on action to take in case of a catastrophic loss.
- Workers’ Compensation Analysis
Using a predictive software tool and years of insurance expertise, we can create different scenarios to determine the effect of implementing various loss control measures in your daily work environment. Often, this analysis can provide premium savings for our clients. In many situations, even with previous claims, some clients have enjoyed credits from prior policy terms.
We have the ability to analyze your business' Workers' Compensation experience modification factor (mod) worksheets, to determine the validity of the mod calculated by the National Council on Compensation Insurance, Inc. (NCCI). A claim review, prior to the valuation date for NCCI filings, will keep your business' claim experience mods as accurate and as low as possible, and your company as marketable as possible assuring you of the best rating program available. We find an average of 30% errors on experience mod calculations.
- Insurance Premium Audits
We have a full-time premium audit specialist on staff with more than 35 years of premium audit experience to ensure that our clients are not overcharged on their premium audits. We have been so successful in this area with our own clients that we now offer these services to clients of other insurance agencies through our Audit Review Services Program.
Audit Review Services offers non-insurance clients the opportunity to have their own premium audits checked for accuracy, but we don't stop there. We also check experience modification calculations, claim loss runs and perform policy reviews. If we do not find any errors, we do not charge a fee. If we do find errors, we share equally in the savings.
For more information on how we can help protect your business, please call us at 800-303-5408 or email firstname.lastname@example.org.