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 #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
Business Income Insurance Tips
Business Income Insurance – Often Misunderstood; Things to Think About and Tips on How to Address the Real Issues.
Insurance Risk Management Consulting Tip #3
Tip #3: Use flow charts to identify sole source suppliers or other contingent business interruption exposures.
Insurance Risk Management Consulting Tip #2
Tip #2 – Tolerance for Risk
Two important tenets of risk management:
- Don’t risk more than you can afford to lose. and
- Don’t risk a lot for a little.
Insurance Risk Management Consulting Tip #1
Risk Tip #1 – Safety Awareness
No matter what your business is it is important to keep yourself, employees and those working with your organization informed of safety issues.
Executive’s Guide to Risk Management and Insurance – Reduce The Risk/Boost Your Bottom Line.
This guide was written for the astute executive, CEO, CFO, Controller, COO, VP, Board Member or Business Owner, who appreciates the complexity and importance of insurance issues and who wants to realize all the profit-boosting potential the right decisions afford the company.