What kind of work does a Risk Management/Insurance Consultant perform?
Risk Management/Insurance Consultants can be called upon to perform a wide variety of tasks. Risk Management or Insurance Evaluations or Audits are among the most prevalent kinds of work. Risk Management Evaluations generally involve a review of insurable loss exposures, the adequacy of insurance protection, the extent of risk retention, the effectiveness of contractual risk transfers, and the effectiveness of the risk management function within the organization whereas Insurance Evaluations focus primarily on the insurance protection and pricing. When consultants conclude that their client’s insurance policies do not afford the necessary coverage and/or the pricing is high for the scope of coverage afforded the consultant may recommend taking the insurance program out for a competitive marketing. The consultant would then design insurance specifications, interview potential participants, supervise the process, review the proposals and make recommendations to the client of the most eff
