Can
Risk Management Benefit Your Business?
Many business financial professionals have a working knowledge of their
company's property and casualty insurance programs, but frequently lack
the time necessary to stay abreast of the changing financial alternatives
available.
Areas such as risk identification, loss prevention and claims management frequently receive little attention.
When this situation exists potential business risks are unrecognized, inappropriate and/or costly insurance products are purchased, little effort is made to prevent losses and claims are left unmanaged.
Why Retain An Independent Risk Management Consultant?
More often than necessary, insurance programs are accepted
despite their unnecessary cost and insufficient protection. In the current
world, risks and insurance products are changing constantly making it difficult
to manage and cover potential exposures. An independent risk management
consultant can identify unidentified risk, and determine the appropriateness
of insurance programs, while, at the same time, eliminate unnecessary expenses.
An independent consultant will examine several options for managing risk. Insurance is only one of the several routes that can be pursued. Different situations call for different solutions. In one instance it may be appropriate to purchase insurance. In another case it may appropriate to self insure or use a captive insurance company to manage the risk. With different options available for managing risk an independent risk management consultant can analyze and apply an appropriate plan for each organization.
Cardinal is not affiliated with any insurance carrier or broker. We believe to be affiliated with a carrier or broker would compromise our independence and lessen our objectivity.