Enterprise Risk Management
Reducing the risk
An enterprise risk management plan is essential for all businesses. Risk management identifies, assesses and prepares for any possible dangers or disasters that could threaten business success by interfering with operations and profits. The most effective way to do this is through purchasing enterprise risk management insurance such as property and casualty coverage. No two businesses are the same, and neither are the insurance policies that protect these organizations. Each enterprise risk management insurance is also tailored to each business.
Creating a comprehensive enterprise risk management plan can be a daunting task as it involves identifying all the potential risks that could impact a company’s ability to be profitable. That’s where we come in. Our enterprise risk management insurance brokers will work with you and your key stakeholders to not only determine your risks but to create a plan that mitigates and prepares your business from these potential risks.
Enterprise Risk Management Insurance and Your Business
A comprehensive insurance policy for your organization can cover risks, such as fire, vandalism, natural disasters, theft, malpractice, liability lawsuits, cyber breaches, employee injuries and more. It’s important to work closely with your enterprise risk management insurance broker to ensure you have the right coverage for your risk management needs.
We’re Your Partners in Risk Management
The truth is, many companies are not large enough to have their own dedicated risk manager on staff, which is why we offer risk management services to all our clients at no additional cost. At Rogers Insurance, we value exceptional customer service, and we take the time to understand your company’s unique perspective and challenges.
We are industry leaders in the field of enterprise risk management, and our knowledgeable team will streamline and manage the process on your behalf. We will identify ongoing and emerging issues, provide data-driven solutions, and engage and educate decision-makers. With our unsurpassed enterprise risk management knowledge, we are able to help you mitigate risk at every level of your operations and identify opportunities to provide you with a competitive enterprise risk management insurance quote.
Our Risk Management Services Include:
- Conducting risk control property, liability and fleet assessments to develop or complement your existing programs. These assessments can assist in attracting the right insurance companies to your business.
- Providing risk control representation for you during an insurance company inspection, allowing us to liaise with the insurer regarding any risk control matters or recommendations.
- Assessing the value of commercial buildings using proprietary software to ensure adequate building insurance coverage.
- Utilizing infrared technology to conduct a predictive maintenance review on electrical and mechanical systems used in your operation.
- Developing and providing risk management resources such as bulletins, guides and programs.
The Benefits of Rogers Insurance Enterprise Risk Management Solutions
- Added peace of mind
- Identification of exposures to your operations and reduction or elimination of hazards
- Advocacy on your behalf with insurers in respect of loss control matters
- Confidence in your building value versus the co-insurance exposure
- Educational awareness of loss trends or hazards common to your industry
- Infrared thermography can save money by identifying excess electrical usage
Risk Control Surveys
A risk control survey is a method of gathering the information that can be critical towards underwriting a risk. These types of surveys are usually requested by the insurance companies, however, we use this approach to benefit our client for a couple of reasons. As risk control surveys are used to identify potential hazards to the business, we can use this information to try and reduce the exposure or outright eliminate the threat to the operations. This, in turn, helps prevent a loss from occurring in the first place, which saves not only time and money for property losses, but in cases of a liability loss (such as a slip and fall), you can create a safer workplace and avoid the toll of emotional and physical pain as well. By proactively gathering information in this assessment we can present it to the insurer, reducing the amount of time they will need should they request a visit to your operation. We can also accompany the underwriter representative and assist in making the process more efficient for you.
Enterprise Risk Management Control Representation
When an insurance company requests a risk control survey be performed for your operations, it may result in a few recommendations to help improve your operation from a loss perspective. Recommendations could include but are not limited to, removing hazards that could contribute to a fire peril, slip, trip and fall hazards, or developing programs to help manage drivers and reduce accident exposure. In such cases, we can review these recommendations, advise how best to achieve compliance with the insurance company or, if need be, advocate an alternative solution on your behalf.
We utilize a trusted Building Valuation Software (BVS Express) to calculate the probable reconstruction costs of your commercial building in the event of a total loss scenario. This service is offered to gauge whether your current coverage is within an acceptable limit and meets the standard co-insurance clause which requires you to insure to at least 90% of the building’s value. One of our representatives will visit your operation and tour the facility collecting data on the building construction, age, total area, occupancy, etc. With this information, we can use the software to calculate a respective estimate of reconstructing your building.
Infrared Thermography is the use of thermal infrared camera equipment which detects infrared energy invisible to the human eye and converts the energy into a measurable temperature reading. Infrared thermography is a non-contact scan of your electrical and mechanical systems and does not require the shutdown of your equipment. The temperature reading of the equipment under load and in use is examined and compared against similar equipment under operation to determine whether your systems are operating within a normal range. Equipment that is producing excessive heat is usually an indicator of premature equipment failure. Use of this technology assists in detecting and correcting a possible fault before it can become a serious problem to ensure we’re doing our due diligence as your enterprise risk management insurance broker.
The primary benefits of an infrared scan are:
- Increase safety
- Reduce unscheduled outages resulting in downtime
- Improve system reliability as a result of less downtime
- Reduce repair costs from equipment failures
In addition to the detection of possible equipment failure, identifying and correcting minor and intermediate faults can save money through more efficient electricity usage.
Your experts in Enterprise Risk Management Insurance: We reduce the risk
At Rogers Insurance, we offer a wide range of enterprise risk management services to help you plan, organize and control the many elements of risk your business may face. Our team of experienced risk experts will work with you to help analyze your current business operations and develop a comprehensive risk management plan. We also offer a range of risk-related services, including business interruption insurance, market risk management and key person insurance. Protect your business with affordable enterprise risk management from Rogers Insurance.