Risk Management Assessment
When considering your current insurance and risk management program, ask yourself:
- Does my current broker understand my core business, its inherent risks and how those risks impact my financial profile?
- Is my current broker purchasing insurance as a commodity without analyzing alternative structures as part of the total risk management strategy?
- Does my current broker capitalize on all areas of expertise necessary to achieve my goals?
- Is my current broker more interested in solving problems through sales rather than innovative service?
- When it comes to service, does my current broker provide a concierge service model or a “cookie cutter” approach?
- Is my current broker working on my behalf throughout the year or do I only see him/her at renewal time?
- Does my current broker employ credentialed professionals to coordinate and service all aspects of my account?
- Am I confident that all of the risks relevant to my business operations have been assessed and addressed appropriately to protect my assets?
If you can’t answer an unequivocal “yes” to each of these questions, you’re not getting the most return on your insurance and risk management expenditures…