Insurance Risk Management: The Framework – The Insurance Policy Part Three
If you didn’t get a chance to read the earlier portions of this series, you can read part one here and part two here. This is the final installment of the series.
Insurance Risk Management: The Framework – The Insurance Policy: Part Two
Insurance policies contain exclusionary endorsements or loss-limiting endorsements.
- Most of the time exclusionary endorsements are clear to all parties prior to binding the policy.
- Other times they are obscure, buried in highly-confusing policy language, not known or fully understood at the C-Level until a loss occurs.
Insurance Risk Management: The Framework – The Insurance Policy: Part One
Let me ask a question. What stands between you and protecting your company’s financial assets?
If you are using an insurance policy as a means and maybe the only means, to transfer risk, then the answer could be your insurance policy!
A Common Insurance Risk Management Question: What Is Risk Management?
What is “Risk Management”?
Let’s take a more specific look at what exactly risk management is about. Searching the literature I find a number of definitions. Here are a few I think focus your thinking: Read more
Insurance Risk Management Consulting News Watch
Here are a couple of current news stories on Insurance and Risk Management. The publication is in bold, the titles of each follow as a hyperlink to the full story, and we end with a quote that will hopefully help you decide whether you need to skim the whole article at the original source.
Cost Reduction Strategies
Cost Reduction Strategies: Identification of Exposures, Property Exposures:
We know from speaking with clients that one their biggest concerns regards the identification of property exposures and risk. Some of the first questions out of the box might be “are we carrying too much insurance, too little?”; “Have we identified all of the exposures?”
Insurance Risk Management Consulting Tip #12
Insurance Risk Management Consulting Tip #12 – Five Ways to Reduce Your WC Mod
Five things you can do to help reduce your workers compensation experience modification. Read more
Insurance Risk Management Consulting Tip #11
Insurance Risk Management Tip #11 – Loss Control
Pay more attention to loss control.
Risk management is all about reducing and mitigating the exposure to risk which in turn reduces costs. Unfortunately we see many companies are not as focused on loss control measures until it is too late. An employee is injured, a fire occurs, an invitee trips and falls. Most of the time with smaller to medium sized companies it is the insurance carrier loss control representatives who point out potential hazards.
Insurance Risk Management Consulting Tip #10
Insurance Risk Management Tip #10 – Importance of Insurance Due Diligence
Insurance Risk Management Consulting Tip #9 – Review Your Contracts
Insurance Risk Management Tip #9 – Review Your Contracts
Review your contracts such as leases, purchase agreements and services contracts.