| As
an organization, one
of our major goals is to help you, whether
you are a business or an individual
customer, to meet your risk management objectives. This
involves helping you protect your assets and income flows
at the lowest possible cost to your business
and/or your family. We work hand-in-hand
with our clients to achieve this goal through the risk
management process.
What
is the Risk Management Process?
Risk management in a business is defined as the process of
planning, organizing, leading, and controlling the activities
of
that organization in order to minimize the effects of
risk on
their capital and earnings. It is the art and science
of controlling risk to a degree that is proportionate
to
the value of the assets being protected. One of the major
benefits
of effective risk management is the lowering of the business’s
insurance costs in both the short- and long-term. Short-term
savings
come from premium credits; most businesses will get more
attractive premiums if they implement loss control programs.
Long-term
savings come from lower loss experience.
The
following list of activities should be involved
in a successful
risk management process:
Management
- Understand
organization and its risks
- Develop policy on risk
- Identify
risks
- Establish
risk retention level
- Establish
contractual liability posture
- Decide
how to finance risk
- Insurance,
captive, other
- What
to insure
- What
limit
- Evaluate
potential mergers
Loss
control
- Environmental
costs
- Fixed
asset protection
- Liability
and litigation control
- Employee
and public safety
- Security
and crime control
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Claims Management
- See
that claims are reported
- Negotiate
claims with insurers
- Subrogate
- Maintain
claims database
Administration
- Maintain
property valuations
- Allocate
risk costs
- Monitor
certificates of insurance
- Check
insurance policies
- Prepare
budgets and forecasts
- Report
to management
- Report
loss exposures to insurers
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Loss Prevention
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A
safe work environment can lower costs in three fundamental
ways:
1.
It can lower the production costs associated with
employee injury
2. It can lower insurance costs through favorable
loss experience.
3. It reduces the potential for costly regulatory
fines and penalties.
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Additionally,
today’s companies are under close
scrutiny by regulatory agencies. Many are hit
with costly fines. Even worse, companies are
subjected to significant liabilities from civil actions
brought
by workers, or their families, in the event of an unfortunate
accident. We are now available
to assist with the preparation of site-specific programs
to keep your firm current with the complicated compliance
requirements of OSHA, EPA, and DOT.
Listed
below are a few examples of the programs we offer:
Written Programs
- Fire
Prevention Plans
- Spill
Prevention Plans
- Emergency
Action Plans
- Site-Specific
Safety Plans
- Equipment
Selection, Purchasing and Evaluation
- Hearing
Conservation Programs
- Lockout/Tagout
Plans
- Forklift
Safety Programs
- Medical
Surveillance Programs
- Risk
Communication Programs
- Regulatory
Compliance Inspections
- Emergency
Planning & Preparedness
- Ergonomic
Evaluation & Recommendations
- Confined
Space Entry Programs
- Respiratory
Protection Programs
- Infectious
Disease Control Programs
- Hazard
Communications Programs
- Injury & Illness
Prevention Programs
- Hazardous
Materials Management Programs
- Employment
Practices Liability Programs
Training
Courses
- Hazardous
Waste Operations & Emergency Response Training
(29CFR1910.120)
- Confined
Space Entry Training (29CFR1910.146)
- OSHA
Trenching & Excavation
Safety (29CFR1910.126)
- OSHA
Hazard Communication Training (29CFR1910.1200)
- OSHA
Forklift Operators Training
- Hazardous
Materials Transportation HM-181,126F (215A & 215B-49CFR172.704)
- DOT
Driver/Carrier Training (49CFR174-177)
- DOT
Supervisor Drug/Alcohol Training (49CFR390-397)
- Hazardous/Toxic
Waste Management (40CFR262.34 & 265.16)
- National
Safety Council Defensive Driver Training
Program
Consulting
Services
- Noise
Level Testing
- Permitting
Assistance
- Waste
Management Programs
- Pre-Incident
Disaster Planning
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