Archives for September 2019
RISK SERVICES—Teams can do great things.
Teams can accomplish tasks that individuals cannot do on their own or that would take them a lot more time to do by themselves.
Teams also take advantage of the strengths of others, with each person adding unique talents and skills to benefit the group.
At your company, you probably already have some types of teams.
You may have a management team, an office team, and a safety team. Perhaps you even have your own baseball team — if only just for fun, exercise and employee bonding.
Depending on the size of your company, you may also have a Risk Management team. Or maybe not.
Many businesses remain unaware of the vital need for professional Risk Management services and the value they bring to your company’s operations and overall team.
Coverage Needs Change
Did you or someone else at your company purchase your commercial insurance policies years ago and now just renew them annually?
That’s a common scenario. But as your company grows and changes, your coverage needs also change.
If you don’t have someone specifically trained to handle insurance programs and address evolving risks — you could be endangering your company’s future.
Claims could be denied. Co-penalties could be applied. Some items could be doubly-covered, while others may have fallen into a coverage gap.
You’re probably missing out on savings opportunities, too. (Savings? You might be surprised to see this option. You realize rates and premiums go up, but may have never imagined they can actually go down, too.)
Your policies should be reviewed by an expert and updated accordingly before being renewed. (And renewal time is a great savings opportunity.)
Risk Management Role
Mid- to larger-sized companies frequently use consultants to handle risk and insurance programs when they can’t afford to hire a full-time Risk Manager.
Independent Risk Managers make GREAT team players.
- They work EXCLUSIVELY for their clients.
- They have YOUR BEST INTERESTS at heart.
- They’re your ADVOCATES in the insurance marketplace.
Plus, they sit on your side of the table during negotiations. And they can even assist you in bidding out your entire program for the best results.
Risk Experts Match Exposures To Coverages
Risk Managers are well-trained in sizing up the exposures for your business and then designing an insurance program to match its specific needs.
You’re also going to get the benefit of their experience with other companies like yours and their knowledge of the ever-changing insurance marketplace.
And while they may know many brokers and insurance agents — they’re not beholden to anyone, because they work independently.
And because they’re independent, they’ll help you CUT COSTS instead of needing to be paid out of the premiums charged to your company (like brokers and agents).
Insurance Program Design AND Savings Specialists
Risk Managers are not only good at designing insurance programs to fit your specific industry or service, they’re also good at finding savings in multiple places.
SERVICE and SAVINGS are what they do on a daily basis. They know how and where to find savings solutions for coverages, policies, limits, deductibles, workers’ compensation and more.
And Independent Risk Managers can usually find more than enough insurance savings to cover your fees for hiring them.
Sounds like a pretty good deal, right?
With a Risk Manager on your team, you’re going to get MORE for your MONEY:
- You’re going to get better coverages for your company — giving you MORE peace of mind.
- You’re going to end up paying less for your commercial insurance programs — giving you MORE savings.
- And with a Risk Manager handling insurance-related issues, you’re going to save a lot of top-management time — giving you MORE time to devote to other business matters.
If this sounds like a win-win situation to you, we’d love to join YOUR TEAM.
We have a 40-plus-year track record of helping businesses and industries in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee.
We love helping our clients REDUCE RISKS and INCREASE SAVINGS.
Let’s talk. About your company. About your needs. And about the world of possibilities created by great teamwork.
Call Us To Hear MORE Risk Management Team Benefits!
(Photo Credit: Chazz H.)