Why use an Independent Risk Management Consultant?
Common problems associated with risk management programs may include: lack of a definite structure; inadequate insurance coverage; cost containment; difficulties in working with the current agent, broker, actuary, or TPA; a lack of knowledge about insurance; or a lack of staff to serve your needs. Many companies have found that out-sourcing risk management can be more cost efficient than having a full-time risk manager on staff. Commercial Risk Consultants can also provide “by project” to more specifically meet an organization’s needs. The Process 1. Identify. The first step is to perform a Risk Assessment. This allows CRC to become familiar with an organization and its attitudes towards risk management. This may involve a complete review of financial statements, contractual agreements, various property listings, loss history, and past insurance policies; interviews with department heads; and site visits. The purpose of this extensive process is to identify the organization’s principal
