Enterprise Wide Risk Management (ERM) Review

We focus on insurance related risk, and all other risk but not Clients’s core business risk and not market risk.

Includes Risk:

Identification:

3-4 most significant risks (other than market risks) of the enterprise including:

  • Operational/infrastructure
  • Malpractice
  • Human Factors
  • Regulatory and Others which may be Insurable

Employment Risk  Costs including:

  • Potential Legal Liability
  • Evaluation of Employee Health and Welfare Benefits Savings

Mitigation:

Evaluate practices, education, training, contractual risk transfer, assets and systems business disruption exposure and ERM for presentation to the Board.   Look for “low hanging fruit” i.e. small investment has big impact.

Policy Limits review (including Directors & Officers Insurance)

Transfer:

Manage Request for Proposal (RFP) among brokers and insurance markets. This includes vendor selection, RFP bid specifications, performance criteria, and management of all communications.   Also includes retention analysis to determine where self-insurance/retention change is most effective.

Value Proposition:

Client gains back all or part of the cost of the project before project end because of ERM improvements.  These gains include likely premium rate reduction and enhanced risk transfer including alternative risk transfer.