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... Resources & Links Categories Popular Recent All Back Managing Risk: A Guide For Your Business Client, Part 4 Of 4 4/30/2013 10:40:32 PM by CompleteMarkets Editor This content has not been rated yet. MANAGING RISK: A GUIDE FOR YOUR BUSINESS CLIENT Part 4 of 4 INSURANCE AND RISK MANAGEMENT This is the generally accepted sequence of risk management activities: The risk of loss is identified and measured. It's reduced as much as feasible by loss-prevention techniques. The loss is accepted as a budgeted cost to the extent that it can be fitted in to the financial picture. As a last resort, the losses that can't otherwise be treated are transferred. Insurance is the usual means. Insurance is so important as a risk-management tool and its cost so visible that other aspects ... ) to Class XV (very large) . Ratings are often expressed by a combination of the two figures; for example, B +, IX. The Best ratings have only limited usefulness (some insurers with high ratings have become insolvent), so if you're concerned about a particular company, make as many inquiries as possible. The state insurance commissioner is one source. Surplus Lines Insurance companies are licensed in the states in which they operate. They're then subject to regulation by the insurance commissioner. Sometimes the licensed companies are unable to underwrite certain unusual types of risks, which can be written by non-licensed companies. Though unlicensed and unregulated, these companies do a significant amount of business. They are called Surplus Lines' or Excess Lines' carriers and sell through Surplus Lines brokers, who are ...

...end; it can open a first notice of loss, pull policy data, verify coverage, or...that build the right insurance claims software solution around that division, ...

... years, more and more businesses have joined captives, particularly middle market captives. The most recent soft market dampened the captive movement somewhat, but the movement continues to grow. Captives have gone from small, risky offshore operations to large, well-capitalized U.S. licensed insurers. Middle-market captives are viable because they address long-term costs instead of short-term expenses. Premiums and dividends are usually based on individual and collective expense losses; many businesses prefer to reap the long-term savings that captives offer instead of jumping at every 5% premium drop that the insurance companies are hawking. Captives allow businesses to reduce their insurance and loss expenditures through risk control. Captives often spring up when there's no fairly priced coverage for exposures not covered by standard insurance lines, such as underground storage tanks. The industry understands that some exposures are ... of the newest and hottest risk financing tools is Guaranteed Cost insurance. Not everyone has succumbed to the perfume of the premium. During the past 10 years, more and more businesses have joined captives, particularly middle market captives. The most recent soft market dampened the captive movement somewhat, but the movement continues to grow. Captives have gone from small, risky offshore operations to large, well-capitalized U.S. licensed insurers. Middle-market captives are viable because they address long-term costs instead of short-term expenses. Premiums and dividends are usually based on individual and collective expense losses; many businesses prefer to reap the long-term savings that captives offer instead of jumping at every 5% premium drop that the insurance companies are hawking. Captives allow businesses to reduce their insurance and loss expenditures through risk control. Captives often spring up ...

...ent activities: The risk of loss is identified and measured. It's reduced as much as feasible by loss-prevention techniques. The loss is accepted as a budgeted cost to the ...d even more closely than the stability of insurance companies. One objective criterion is the extent of their outside study. Look for the CPCU (professional insurance) and RM (professional risk management) designations. Of the two, the CPCU is the more demand...

...he RC and, in the event of a total loss, collect full value. For example, they...al University, click here. The members of the University Faculty offer expertise in every aspect of agency management and marketing. Many of these faculty members are available ...

...s violations can lead to permanent loss of licenses. Ins. Code 1737-1748. The ...oducers have faced with the Department of Insurance involved their trust accou...

... individual and collective expense losses; many businesses prefer to reap the ...sts down. They also provide effective loss control, claims management, and ris...

... Services Glossaries Management Resources & Links Categories Popular Recent All Back Ask A Licensed Private Investigator, Part 1 4/30/2013 10:40:33 PM by CompleteMarkets Editor This content has not been rated yet. FRAUDBUSTERS: ASK A LICENSED PRIVATE INVESTIGATOR Part 1 Q: Recently, I was discussing a suspicious claim with another investigator. He said it appeared that one of the parties in the loss was involved in sub-plating' the vehicle. What does that mean? A: This is a relatively new type of fraud, and it's becoming increasingly popular. According to the Department of Motor Vehicles, sub-plating is a scam in which a car thief steals a vehicle, locates an identical model vehicle to the one he just stole, and takes only the license plate. When the owner of ... Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Ask A Licensed Private Investigator, Part 1 4/30/2013 10:40:33 PM by CompleteMarkets Editor This content has not been rated yet. FRAUDBUSTERS: ASK A LICENSED PRIVATE INVESTIGATOR Part 1 Q: Recently, I was discussing a suspicious claim with another investigator. He said it appeared that one of the parties in the loss was involved in sub-plating' the vehicle. What does that mean ...

Emerging E&O Loss Exposures
With so many new concepts...help reduce the frequency and severity of E&O claims as well as give your ...