What kind of work does a Risk Management Consultant perform?
Risk Management Consultants can be called upon to perform a wide variety of tasks. Risk Management Evaluations or Audits are among the most prevalent kinds of work. Such evaluations generally involve a review of insurable loss exposures, the adequacy of insurance protection, propriety of insurance pricing, the extent of risk retention, the effectiveness of contractual risk transfers, and the effectiveness of the risk management function within the organization. Consultants are often retained for special projects on an “as needed” basis. Such projects can include alternative risk financing studies, assistance with mergers and acquisitions, advice on bidding or re-marketing of insurance and preparation of specifications, cost of risk allocations and renewal negotiations. Some consultants are also available to provide continuing service as your part-time insurance/risk management department. This service is often provided to firms where Management cannot devote sufficient time to risk man
