The Consulting Process

A thorough review of your company’s exposures and the current insurance policies utilized to transfer that exposure. The goal is for clients to better understand the nature of their exposures and what is covered and not covered within the four corners of the insurance contract. This also involves alternative risk management techniques via separate contracts and/or retentions. The outcome of our review process and analysis becomes the foundation for setting risk management goals and the strategy to achieve same.

Recommend needed changes in coverage, including both increases and decreases. Prepare an RFP, outlining desired terms, services and coverages.

As part of the bid process, a renewal action plan and timeline is drafted. This phase reviews risks, runs a loss  forecasting model, provides the client and current broker with service requirements and expectations and then develops the underwriting packages with custom specifications.

Continuing the bid process, negotiations begin, comprehensively addressing proposal specifications, coverage and service requirements to optimize coverage and obtain the best premium consideration.

All proposals are reviewed for accuracy and an analysis is developed to compare each insurer's response to specifications, coverage terms and conditions, and premiums. The analysis is reviewed with the client, negotiations are finalized and transition to new insurance program is carefully coordinated.

All policies are reviewed upon receipt, corrected if needed and summarized for the client. On an ongoing basis, Premier professionals attend quarterly claims review meetings for major lines of insurance; monitor loss prevention activities of the carrier; work to ensure that brokers and insurers are accountable for agreed-upon services; and provide the client with information on new insurance products.

We interface with management to make certain that the risk management program that has been put into effect remains flexible and continues to provide the coverage when there are changes in the insurance environment, the company’s operations and/or government/legal issues—all of which must be properly managed and in sync with each other so that maximum benefit of the risk management program is maintained.