An integral element of any insurance programme, Risk Management is also a fundamental management practice where an organisation identifies and understands the risks to which it is exposed and creates and implements an effective plan to prevent or reduce the impact of risk on their business.
- Increasing high standards of care with greater accountability and regulatory and legal obligations.
- Greater likelihood of legal action for compensation or financial recovery.
- Courts often sympathetic to injured claimants giving them the benefit of doubt in actions against financially stronger corporate entities, perceived as having assets and/or high insurance policy limits.
For your organisation, we can:
- Assist with the development of a risk management function.
- Attend regular management and claims review meetings.
- Contribute to the identification of insurance risk.
- Undertake a thorough evaluation of your insurance programme to ensure adequacy of structure, insurer and contract wordings.
- Assist with identification of emerging trends within insurance risk.
- Introduce additional professional advice as required.
- Achieve a practical return by way of reduced insurance premiums and wider cover.