CONSULTING SERVICES
Self-Insurance Specialists is committed to providing innovative solutions to insurance and risk management problems.
The staff at Self-Insurance Specialists has practical expertise from working in the insurance industry and with risk management professionals. We perform detailed analysis complete with graphs and charts, make recommendations, write clear reports, present our findings to your management team or board of directors, and assist in any implementation. We see the big picture without slighting the details.
Self-Insurance Specialists recognizes differences in requirements, objectives, and strategies--we adjust our consulting to your specific needs. We're dedicated to creative, cost-effective, high-quality solutions.
Our knowledgeable staff has experience in reinsurance, risk management, coverage review and analysis, cost containment, budgeting, loss analysis, feasibility studies, requests for proposals, broker selection, third party administrator reviews, and organization performance audits. Services include:
Risk management and organization audits
Exposure identification and insurance coverage analysis
Insurance specifications and marketing
Feasibility studies
Assistance obtaining regulatory self-insurance approvals
Financial analysis of retentions/deductibles
Service provider performance or proposal evaluations
Requests for proposals/competitive bidding:
Business plans/marketing plans
Cost/benefit analyses
Workers' compensation studies
Loss analysis and trend evaluations
Risk transfer training and implementation
Research and special studies
Historic insurance coverage reconstruction and analysis
Expert witness testimony
Reinsurance and excess insurance negotiations
Outsourced risk management services
Self-insurance pools and captives:
Self-Insurance Specialists offers quality consulting at reasonable costs.
We highlight some of our services below:
Services: Organization Audit: Risk Assessment and Insurance Marketing: Feasibility Studies: Risk Management Program
Risk Management Organization Audits
We assess your organization's risk management structure or your self-insurance pool's management structure. Our audit includes policies and procedures, staffing, responsibilities and authority levels, communications, contingency plans, coverage documents and insurance arrangements as well as outside service provider usage. The analysis results in recommendations for improving your program. We then assist, as needed, in implementation.
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Risk Assessment and Insurance Marketing
After examining your exposure, we analyze the most effective way of covering the risk, evaluate retentions and limits, design insurance specifications, help you with broker selection, as well as gathering underwriting and rating information, and monitor the marketing process to assure a timely, cost-effective insurance quotation. Our work leads to better coverage and lower costs through effective insurance bidding and buying.
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We analyze the options available for financing your risk including commercial insurance, self-insured retention programs, captives, risk retention groups, and self-insurance pools. Then we compare your current exposure and program against the alternatives. We also prepare pro forma financial statements and analyze reinsurance, excess markets, and availability of coverages-- while considering regulatory constraints. Results include specific recommendations, a strategy for implementation, and ongoing assistance.
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Risk Management Program Review and Analysis
Self-Insurance Specialists identifies your exposures to accidental loss, evaluates your current risk management procedures and insurance policies, and determines how well your exposures are being addressed. We analyze costs/benefits and make recommendations to reduce your costs and losses while controlling your exposure to accidental losses. The next step is an implementation strategy for improvements and support in that process. We eliminate coverage gaps/overlaps and address program cost-effectiveness.
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OUR SERVICES WILL RESULT IN PERMANENT ENHANCEMENTS TO YOUR RISK MANAGEMENT PROGRAM.