Risk Management services
Please take a couple of minutes and click on the short video that provides an overview of how our Risk Management Services can assist a Business Owner, Property Management Company, HOA, and Residential or Commercial Condominium Association make informed decisions when purchasing insurance, and buying what’s truly needed at the best possible price the market has to offer at that time. Thank you for your time.
Risk Management Services
Risk Management Services
The following topics provide a general overview of my Risk Management Services as they relate to claim processing.
why?
What exactly is Risk Management?
The basic definition would be to apply a process, procedure, or product to either eliminate or minimize a financial loss from some unforeseen or accidental event.
There are only four options when it comes to applying Risk Management to a particular exposure; Avoid the risk by not allowing that exposure to be a part of your business operations.
Retain the risk and therefore accept whatever financial consequences might develop from that approach.
Share the risk in an effort to help control the limitation of financial exposure should the unforeseen or accidental event occur.
Transfer the risk by making another party assume it.
There are NO other options, it’s - Avoid, Retain, Share, or Transfer.
Experience
Now that the WHY? has been defined, the question is what do you about about making the decisions related to Risk Management?
My knowledge and experience of over 25 years in the Property & Casualty Insurance Profession can help you make a better informed decision.
Of course you can take on this task either yourself, or have someone else within your organization take on this role; however, more times than not, I have seen poor decisions made adversely could affect the outcome of an unforeseen or accidental event.
This approach can be avoided with a better thought process and approach to Risk Management.
Remember, you can’t create Coverage for a claim after an event has occurred….you either have it or you don’t!
services
What can I provide is to assist you with understanding the exposure to risk that you have, and apply a thought process to obtain what is best suited for that exposure. Sometimes the answer can be very simple and other times it’s very complex.
You could say….”what do I need you for because I already have an insurance agent who does that for me”
Or, you can also say…..”I make all those decisions based on what my insurance agent tells me I should do.”
Over the many years of being in the business, I have seen decisions made or insurance products purchased that really should have been evaluated further and either the ….”Why am I buying this Coverage?” or “What am I buying” topics should have discussed further.
Remember, your agent is there to sell you what he’s offering in not only pricing, but also the terms of the policy, and you need to be confident it is best decision you can make.
I have the ability to help you make the best decision! The final choice is YOURS, not mine.
fees
The initial reasonable question would be….”Why pay anyone for something you can do yourself?”
That’s a reasonable and logical approach until it’s really analyzed.
Of course, if the insurance decision is simple and easy….my recommendation is to just do it yourself. Use the agent you have a relationship with, and move forward.
When the decisions and related information is more complex, that’s when I think a non-bias consultative approach should be considered. Why?….because there’s absolutely no way I would be convinced that a Business Owner, Property Manager, or the board members for an HOA or Residential or Commercial Condominium Association has the background to truly evaluate the risk and make the best decision, no matter their relationship with their incumbent agent.
Having an ‘outside’ look at the risk brings a certain sense of confidence and will make the decision makers believe they are making the best decision whether or not that includes remaining with the incumbent agent. I’m not selling you any products…and that’s the difference.
As for the related cost to do this, it’s very minimal when compared to the risk being taken regarding the unforeseen or accidental loss.