Sixteen Questions to Ask Yourself about the State of Your Current Insurance Program:
Ø Have your insurance premiums increased 15% or more over last year?
Ø Do you feel that your cost of risk is under control?
Ø What is your total cost of risk?
Ø How has the cost of your insurance program been trending over the last 5 years?
Ø How does your insurance program compare to that of the industry?
Ø What measures do you have in place to control your total insurance costs?
Ø Do you have a risk manager? Do you have risk management goals?
Ø When was the last time an exposure analysis was completed?
Ø What plans are in place if a natural disaster occurs?
Ø 75% of businesses that sustain a major catastrophe are out of business within a two year time frame, are you insulated?
Ø Do you work with vendors or suppliers? What would happen if they went out of business or had a delay in delivery today?
Ø Is a high percentage of revenue derived from one client and if so how are you protecting that source of revenue?
Ø What happens after an accident occurs? How do you approach post accident procedures? Do you have a job bank of light-duty jobs?
Ø How do you combat rising auto premiums? Are you hiring new drivers? What does your driver background check consist of? How often do you obtain updated MVR’s and what procedures are in place to legally obtain them? Do your drivers feel overworked? Do your employees use their own vehicles? Do they drive the same truck or type of vehicle everyday? Are they on a similar route everyday? Do you test for drugs?
Ø Are you planning an acquisition or merger? Are you planning on starting a new company or division?
Ø Have you seen marked improvement with your overall risk management program?
And one more - Do you fully understand what you are covered for and not covered for and how your insurance policy will respond to a claim? (Sorry, it was a three parter)
If you had difficulty answering any of the questions above please call us and we will try to arrive at the answers together. | 
