Insurance Program Analysis
We believe that the “Right” insurance program is the one that is most effective in protecting companies from loss to corporate assets (both physical and human), and corporate income.
It can be developed only through a thorough analysis of all exposures to loss that companies face. Each company is unique and requires its own risk assessment in order to determine their “right” insurance program.
The “right” insurance program includes measures to effectively reduce the likelihood of loss and reduce the total cost of any loss that might occur.
The HGIS Insurance Analysis
We need to understand your business and how you operate in order to make the right decisions on what insurance and how much is necessary to protect your company in the event of a loss.
Here is our approach:
We will survey your operations and talk to the people within your company who have responsibility for insurance and loss management programs in order to get to know you better.
Employment Practices Review
Upon your request we can have our human resources specialists meet with you to review your employment practices and ensure you are up to date on all regulatory obligations.
We will review all contracts and leases with landlords, tenants, vendors, and independent contractors to provide our opinion on contractual risks associated with insurance coverage.
Insurance Policy Review
We will review your current insurance program to make sure it addresses the risk your company retains and provides the coverage you expect in the event of a loss.
We will present our findings to reduce potential for loss and the insurance coverage necessary to protect you in the event of loss.
We will also review and help you evaluate “nontraditional” ways to pay premium or fund loss, including captives, self-insurance, retrospectively rated and large deductible plans.