Frequently Asked Questions
Will an Independent Risk Management Consultant obtain a reduction in
premiums?
If someone guarantees you a premium savings or bases their fees on a
contingency, then they may be stripping away valuable insurance coverages.
Insurance premiums cannot be looked at only from the bottom line. If you are
looking for the cheapest insurance, then what insurance protection will you
have when a claim occurs? If someone wants to lower your premiums, then
they only need to strip away valuable insurance coverages. Will this
best protect your needs?
An Independent Risk Management Consultant, after reviewing your insurance
program, may recommend additional coverages, higher limits, or new insurance
policies that improve protection. All of these actions may increase insurance
premiums. These types of recommendations can provide you with greater protection
when an uninsured exposure is now insured.
An Independent Risk Management Consultant will look at your overall
insurance program and balance cost with the protection offered by the insurance
policies. The tools used to obtain a fair premium are competitive bidding
and negotiations based upon knowledge of the insurance market. The consultant
has experience in this area and knows the current market.
