Outsourced Risk Management

 

Insurance costs rank in the top four expenses for a business. When this significant dimension is well managed, it results in a competitive edge.

Our Outsourced Risk Management Services are 100% fee-based.

We know insurance. We do not sell insurance.

CIC researches, develops and implements client specific solutions. Risk is managed with a strategic, two-phase process. Our team supports your risk management requests, projects and initiatives.

Lists

PHASE ONE: Insurance Program Evaluation

We provide an in-depth, independent analysis of your current insurance program to verify accuracy. Alternatives are presented for insurance not currently carried. Additional risk transfer methods are recommended in your organization's best interests.

Process

PHASE TWO: Ongoing risk management services & Educational support

Our ongoing consultation and insight ensure that insurance programs are effective and remain responsive.

 

We review contracts, certificates and audits for accuracy and make recommendations to further protect your company.

 

We perform carrier and broker request for proposals, when needed, to ensure the most comprehensive program is in place.

 

We provide claim support services to evaluate progress and provide resolution for outstanding claims.

Buying insurance through multiple Brokers leads to gaps and redundancies.

CHALLENGE

A Risk Manager buys insurance from three different Brokers. Even with a recent unpaid loss, the three Brokers assure the Risk Manager there are no gaps in coverage. This unsystematic approach raises the question: is there proper coverage and/or enough coverage in place?

SOLUTION

CIC executed a comprehensive independent review of the current insurance program. This process revealed considerable gaps in coverage. A specialized single Broker proved the most effective approach. CIC performed a broker services request for proposal and conducted interviews.

OUTCOME

The new Broker provided alternate carrier options, broader coverage, higher deductibles and an overall program savings. The Client now operates in a sound risk management environment.

We take charge of your organization's risks.

 

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Upstate NY Office

5687 Main St.

Williamsville, NY 14221

O: 716.632.4442

F: 716.631.5728

Rochester Office

217 West Main St.

Rochester, NY 14614

O: 716.632.4442

F: 716.631.5728

New York City Office

1251 Avenue of the Americas

New York, NY 10020

O: 212.278.1050

F: 212.278.1733

© 2017 Commercial Insurance Consultants Inc.