CIC manages risk with a strategic two-phase process.
Phase One: Insurance Program Evaluation
- Provide an in-depth, independent analysis of your current insurance program to verify accuracy.
- Present alternatives for insurance not currently carried.
- Recommend additional risk transfer methods.
Phase Two: Ongoing Risk Management Services and Support
- Review contracts, certificates and audits for accuracy and make recommendations to further protect your company.
- Perform carrier and broker request for proposals, when needed, to ensure the most comprehensive program is in place.
- Provide claim support services to evaluate progress and provide resolution for outstanding claims.
Case Study
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.
