Risk Management Strategies

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Risk Management Strategies

• Commercial

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Risk Management Plan

• Identify potential losses
• Evaluate the potential impact
• Review strategies
• Avoidance
• Non-insurance risk transfer
• Risk transfer
• Insurance
• Implement Monitor results, adjust plan

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Your resources

• A guide to loss control measures for your
  business.
• Business Personal Property
• Business Recovery
• Running Your Business From Home
• Special Business Liability Insurance

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How did he get there?

• Our clientele includes many of our
• personal lines clients

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Why is he up there?

• Risk taker
• Experience training in the field
• Owns / borrows assets it takes to start

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Who is up there with him?

• Directors officers
• Employees
• Real estate/property managers
• Affiliates, subsidiaries
• Landlords
• Independent Contractors

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Who cares?

• Bank lenders
• Survivors, dependents
• Buy-sell life
• Trust
• Limited liability
• Suppliers
• Customers
• Utility providers
• Service and maintenance
• providers
• Fire department, security
• Code enforcement officials

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Property

• Product enhancements
• Building Ordinance or Law (increased cost of
  construction / loss of value
• Equipment breakdown, Computer Property Form
• Back-up of Sewer or Drain
• Dependent Property / Contingent Loss of Income
• Property in Transit
• Property Off Premises
• Utility Interruption / Loss of Income

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Management Professional Liability

• EPLI
• D O
• Professional/E O

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Resources

• Errors Omissions
• Directors Officers
• Liability Insurance and Excess Casualty Markets
  Trends, Issues Outlook Impact on Insurance
  Liability and Excess Casualty Markets from the
  Risk Insurance Management Society Annual
  Meeting 4/3/2003

• FindLaw
• Injury Tort Law
• Insurance Law
• Corporations Enterprise Law
• Commercial
• Fifth Circuit Update

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What do we have to offer?

• Proposition clients have a
• reasonable expectation that
• their insurance company has
• knowledge of
• practices and products that can
• reduce the chance of loss or
• lessen its severity

Partnership with clients
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Resources Loss Control
EPA MTBE (underground storage tanks) Asbestos
Institute for Business and Home Safety MSDS
Hyperglossary Search National Fire Protection
Association National Institute for Occupational
Safety Health (NIOSH) Chemical Hazard
Labels Transportation Safety OSHA SAfety
Health Topics Personal Protective Equipment
Safety Health Technical Bulletins Safety
Health Management Systems eTools OSHA
Publications (posters, MSDS, slideshows... Small
Business Underwriters Laboratories, Inc.
Consumer Product Safety Commission - space
heaters
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Risk Management resources?

• AIG AIG netAdvantage SuiteSM
• Chubb
• Fireman's Fund
• Hartford Steam Boiler
• Marsh
• State Farm
• The Hartford
• Travelers
• Zurich NA
• Small Business Insurance and Risk Management
  Guide(MS Word, 130k, mp-28.doc)
• Risk Management Checklist (pdf) (courtesy of The
  Associated General Contractors (AGC) of America)
• Risk Management Internet Services

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What elseQuestions?