Risk Managment Audits
We identify your exposures to achieve a full understanding of all areas of your operations to assess all risks and exposures whether or not insurable to create a framework for our risk assessment of your exposures. We will quantify and develop strategies for managing risks. An objective survey, review and evaluation of all of your initiatives to reduce, control or totally eliminate your organization's risks is crucial. We create a Risk Profile that reveals excesses, shortfalls and gaps in your ability to manage your risks. This Risk Profile will then become your foundation for estabilishing a systematic program for managing your risks.
Insurance Portfolio Reviews
Focus Risk Management will provide an in-depth review and critique of all existing insurance policies and provide a detailed report in the following areas:
- Adequacy of limits and how they relate to exposures
- Deductible or Self-Insured Retention Limits
- Insuring Agreements
- Exclusions, Limitations, Provisions and Reporting Requirements
- Premiums - Analysis of premium charged per line of coverage to achieve fair pricing, based on current market trends.
- Broker Compensation (Fees or Commission Basis)
- Benchmarking against similar accounts
- Exposure Identification and Gap Analysis
- Financial and Claims Resolution Rating and Stability of Insurers providing coverage
- Loss Control and Engineering Capabilities of both insurers and brokers
- Claims Management and Third Party Adjuster capabilities review
Insurance Placement Assistance
We develop, assist and negotiate in the implementation of your Insurance Placement Strategies including new placements and renewals of all lines of coverage of any size or level of complexity. Focus Risk Management will customize Requests for Proposals, manage and evaluate responses, assist in the selection of service providers and negotiate final terms on your behalf. As insurance professionals, we can assure that our clients receive the proper insurance placement to protect their assets.
Risk Management Support
For companies that are not yet at the point of requiring their own full-time Risk Manager but require the expertise of an insurance professional, we provide continuing advice and risk management services on an outsourced basis. Services include portfolio reviews, renewal negotiations, claims management and loss control review, endorsement and exculpatory clauses review, analysis of lease agreements, outsourced contracts and other business agreements to ensure compliance with insurance and indemnity agreements by all parties.
Alternative Risk Financing
We conduct Risk Analysis reviews in order to provide consultative advice and recommendations for practical risk transfer and insurance solutions. This may include tailored alternative risk transfer techniques including self-funding, reciprocals, finite insurance, special purpose insurance and captive insurance programs to meet our client's objectives in the control and management of business risks and to further reduce the negative financial impact on assets and profitability due to assumed losses.
Expert Witness
Focus Risk Management provides consulting service as an expert witness for instances of insurance claims or coverage intrepretation disputes including the following lines of insurance coverage:
Commercial Property
Commercial General Liability and Umbrella/Excess Liability
Builders Risk and Wrap-up Liability
Boiler & Machinery
Directors & Officers Liability (Management Liability)
Employment Practices Liability
Errors & Omissions Liability (Professional Indemnity)
Fiduciary Liability
Crime (Fidelity) Insurance
Environmental Impairment Liability
Motorized Vehicle Insurance
Transportation including Inland Cargo and Marine
Our services include a complete review of coverage and a comprehensive analysis of the dispute circumstances, researching similiar cases, advice on current precedents, preparation of report documentation and attendance at pre-trial mediation/arbitration and attendance at trial.
Due Diligence for Mergers & Acquisitions
We review and report on Risk Management procedures and the adequacy and appropriateness of insurance programs of companies being considered for merger or acquisition as part of your due diligence process.
