The biggest companies have risk managers on staff. Why? Because business risk is complex and constantly changing. Insurance policies are complex too, sometimes covering hundreds of pages filled with terms, exclusions, limitations and conditions. The typical businessperson has neither the time nor the expertise to sort it all out, separate fact from puffery and determine whether the risks facing that particular business are covered without a lot of unnecessary and costly extras. Risk management is in fact more than insurance. Liabilities can be directed and redirected by contracts between trading partners. Have you agreed to indemnify another party? Will your liability insurance cover that assumed liability? Have you forgone opportunities to obtain indemnification from others whereby you could insulate your own insurance program from loss, and thus prevent future premium increases? Do you have the right safety programs in place? All of these are functions of a risk manager. And they are all functions, which we, licensed risk managers and insurance advisers, can provide for you and your firm. Whether you ever lose sleep over insurance and risk issues or not, we will provide you with the knowledge that your company has evaluated its risks, instituted programs to minimize those risks and effectively protected yourself from crippling losses. |