Frequently Asked Questions
What work can an Independent Risk Management Consultant perform?
An Independent Risk Management Consultants can provide continuing service
as your part-time risk manager. This service is provided to firms
where the duties are fragmented throughout the organization, when one
indivdual does not have sufficient time to spend on risk management issues,
or when the cost of staffing a risk management department is not practical.
An Independent Risk Management Consultant can provide assistance on special
projects whether or not you have a risk management department to allow the
organization the greatest flexibility. Projects can include agent or broker
selection, preparation of specifications, insurance policy review, alternative
risk financing studies, assistance with mergers and acquisitions, cost of risk
or premium allocations, or renewal negotiations. Special projects may also
include avoiding staffing up for a large project like an Owner Controlled
Insurance Program (OCIP), only to have to suffer through staff reductions
at the end of the project.
An Independent Risk Management Consultant can perform a risk management
audit to evaluate insurable loss exposures, examine the adequacy of the
current insurance protection, evaluate the insurance premiums charged, review
deductibles and retention levels the organization has selected, examine
contractual risk transfers, and discuss the effectiveness of the risk management
in the organization.
