The Insurance Impact of COVID-19
Whether you need full risk management outsourcing or project-specific consulting to augment your in-house capabilities, we provide broad expertise built from 30+ years working in the industry. With no ties to any broker or insurance carrier, we’re able to evaluate every available product and solution and custom-fit the right vendors and TPAs to minimize your risk exposure and retained losses and drive down your TCOR.
Effectively managing a company’s risk is a multi-step process, ranging from an initial risk exposure analysis to identify coverage gaps to updating plans to adapt to a company’s growth or change in operations. Risk International provides a variety of customized services designed to help clients achieve optimal outcomes. These services include:
Drawing from external databases and our 30+ years of market interactions, we are able to analyze and benchmark your current program cost and identify opportunities that add significant and sustainable value. Our benchmarking results will provide a snapshot of your current TCOR relative to industry Peer Median and Peer Top Quartile rankings and will identify the specific cost delta from your current program to an optimized target program.
Day-to-day risk management requires a lot of time, effort and focus. We serve as department administrators for our clients, managing all essential details such as insurance certificates, auto ID cards, budgets, allocations, invoices, logistics, management reporting, policy manuals and other day-to-day tasks.
We manage the property loss control engineering process between plant personnel and insurer engineers, ensuring efficient response and remediation of human element and physical loss control recommendations. Our responsive, thoughtful approach helps reduce immediate exposure to loss, while at the same time supporting long-range planning around larger required capital projects (i.e. sprinkler installations), always with an eye towards risk improvement and cost reduction.
We manage clients’ annual global exposure data collection effort to support annual insurance renewal processes and develop actionable intelligence from the data to support the renewal message to the market. RDS is focused on data integrity and collection efficiency, allowing a reliable exposure rating and an ability to correlate data trends to claims performance.
We facilitate improvements in human loss control to reduce costs associated with injuries and lost time, including best practices in ergonomics and return-to-work programs. Human assets are critical to every company’s performance, and a proactive approach to safety and post-injury care is an essential part of any best-in-class risk management program.
We manage key risk business partners, including brokers, claims administrators, actuaries, nurse case managers, claims adjusters and other risk management vendors to optimize performance and eliminate waste, friction, fees, hidden costs and fatigue from global operations.
Significant contingency risk is created in contracts, so a proactive approach to the wording of key terms and conditions is an essential risk management tool. We review and optimize contractual risk language in clients’ supplier, customer and lease agreements.
We take a process-oriented approach to every market transaction. We start with an evaluation of your risk-bearing capacity and market-optimized retention bands to determine the best possible program structure. From there, we develop extensive market submission data to clearly communicate your risk control framework and eliminate pricing for the unknown.
Beyond insurance, we manage board- and executive-level ERM, tracking and managing strategic business risks and mitigations, whether insurable or not. We partner with executive management to detail potential exposures identified within five-year strategic business plans, mapping the probability and impact of real-world contingencies. We then develop and track mitigations to ensure a proactive control structure around the biggest risks to the future plans of the business.
We assist companies by conducting a due diligence audit and working with them to correct the concerns noted. Compliance is an integral part of the EHS industry and an EHS program and we understand the need for assistance.
We monitor and report on motor vehicle accidents, telematics scores, and metrics of the driver behaviors and trends. In order to have a safe fleet, we work closely with the teams through training and gamification.
Please feel free to contact us.
Whether you need full risk management outsourcing or project-specific consulting to augment your in-house capabilities, we provide broad expertise built from 30+ years working in the industry. With no ties to any broker or insurance carrier, we’re able to evaluate every available product and solution and custom-fit the right vendors and TPAs to minimize your risk exposure and retained losses and drive down your TCOR.
Effectively managing a company’s risk is a multi-step process, ranging from an initial risk exposure analysis to identify coverage gaps to updating plans to adapt to a company’s growth or change in operations. Risk International provides a variety of customized services designed to help clients achieve optimal outcomes. These services include:
Drawing from external databases and our 30+ years of market interactions, we are able to analyze and benchmark your current program cost and identify opportunities that add significant and sustainable value. Our benchmarking results will provide a snapshot of your current TCOR relative to industry Peer Median and Peer Top Quartile rankings and will identify the specific cost delta from your current program to an optimized target program.
Day-to-day risk management requires a lot of time, effort and focus. We serve as department administrators for our clients, managing all essential details such as insurance certificates, auto ID cards, budgets, allocations, invoices, logistics, management reporting, policy manuals and other day-to-day tasks.
We manage the property loss control engineering process between plant personnel and insurer engineers, ensuring efficient response and remediation of human element and physical loss control recommendations. Our responsive, thoughtful approach helps reduce immediate exposure to loss, while at the same time supporting long-range planning around larger required capital projects (i.e. sprinkler installations), always with an eye towards risk improvement and cost reduction.
We manage clients’ annual global exposure data collection effort to support annual insurance renewal processes and develop actionable intelligence from the data to support the renewal message to the market. RDS is focused on data integrity and collection efficiency, allowing a reliable exposure rating and an ability to correlate data trends to claims performance.
We facilitate improvements in human loss control to reduce costs associated with injuries and lost time, including best practices in ergonomics and return-to-work programs. Human assets are critical to every company’s performance, and a proactive approach to safety and post-injury care is an essential part of any best-in-class risk management program.
We manage key risk business partners, including brokers, claims administrators, actuaries, nurse case managers, claims adjusters and other risk management vendors to optimize performance and eliminate waste, friction, fees, hidden costs and fatigue from global operations.
Significant contingency risk is created in contracts, so a proactive approach to the wording of key terms and conditions is an essential risk management tool. We review and optimize contractual risk language in clients’ supplier, customer and lease agreements.
We take a process-oriented approach to every market transaction. We start with an evaluation of your risk-bearing capacity and market-optimized retention bands to determine the best possible program structure. From there, we develop extensive market submission data to clearly communicate your risk control framework and eliminate pricing for the unknown.
Beyond insurance, we manage board- and executive-level ERM, tracking and managing strategic business risks and mitigations, whether insurable or not. We partner with executive management to detail potential exposures identified within five-year strategic business plans, mapping the probability and impact of real-world contingencies. We then develop and track mitigations to ensure a proactive control structure around the biggest risks to the future plans of the business.
We assist companies by conducting a due diligence audit and working with them to correct the concerns noted. Compliance is an integral part of the EHS industry and an EHS program and we understand the need for assistance.
We monitor and report on motor vehicle accidents, telematics scores, and metrics of the driver behaviors and trends. In order to have a safe fleet, we work closely with the teams through training and gamification.