RISK MANAGEMENT – PROPERTY & CASUALTY CONSULTING
Managing Risk in Every Aspect of Your Operations
- Spend some time identifying your company's specific risks, from customer relations challenges to employee safety concerns, property risks to business interruption, corporate fidelity to employment practices liability, are often complex exposures to name a few.
- Identify the specific proactive methodology you want to implement to mitigate each risk. This step will help you to develop a multi-pronged approach to reducing risk that includes everything from workplace safety measures to security systems, employee education, structured delegation, weekly/monthly employee meetings to commercial insurance protection.
- Work with a knowledgeable licensed and certified insurance counselor to choose the specific business coverage you need to reduce the financial impact on your enterprise in the event of accidents, injuries, property damage, fraud and the other risks you have identified.
- With the guidance of an experienced insurance counselor, after identifying all of your company's risk exposures, determine which, if any, exposures that your business organization can afford to self-insure or retain through a high deductible or self-insured retention.
Initial Advice Concerning Disclosures & Complete Candor When Providing Underwriting Information
Business Insurance Covers Your Risks
Top 10 Global Business Risks for 2025
- Global Inflation (natural-gas crisis OPEC limits output, fueling inflation)
- Business interruption (Supply Chain disruption)
- Resurgent Covid-19 waves (New vaccine-resistant variants)
- Liability of all forms, incl. products, accident/injury, libel, malpractice, and discrimination
- Cyber incidents (cyber-crime, IT failure, data breaches and data loss)
- Natural catastrophes (storm, flood, earthquake)
- Political risks and violence (war, terrorism, etc.)
- Political Polarisation (political disruption in pandemic's aftermath)
- Market developments (volatility, intensified competition, market fluctuation)
- New technologies (impact of increasing interconnectivity, artificial intelligence)
- Your business needs
- How you serve your customers
- How many employees you have on staff
- The materials or substances those employees handle
- Whether your employees drive in the course of their work
- The safety of your building, equipment, and processes
- The security of your data and intellectual property
- Risks facing your corporate officers, ie., discrimination
Types of Commercial Insurance Policies
- Premises/Operations liability, contractor's liability, professional liability (errors and omissions)
- Directors' and officers' liability
- Malpractice insurance
- Commercial property insurance
- Commercial vehicle or commercial truck insurance
- Contractors and builder's risk coverage
- Inland marine coverage
- Business interruption insurance
- Employment Practices Liability
- Crime coverage or fidelity insurance
- Cyber-crime insurance
- Workers compensation
- Construction/Performance bonds