Insurance - A Tool Within Your Risk Management Program
provide a wide-array of insurance
property, liability, professional,
guarantee and worker's compensation.
Our recommendations are tailored to your specific needs after first thoroughly understanding the business of the
client. It involves more than reading company brochures or literature,
rather it comes from interviews with your
department heads and time in the field, assessing the risk inherent in the
We review your legal contracts and financial covenants with your legal
counsel, leases and vendor contracts when you find it necessary; all to assess the contractual obligations
assumed. Our experience
has been gained through thousands of interviews in over one hundred
Third-Party liability incidents that have a high frequency and predictability;
and cannot be eliminated, are often excellent candidates for being retained
by the employer through the use of a deductible or self-insured retention
("SIR"), all the while keeping within the framework of its
management and/or insurance program. While a decision can be made
rather quickly whether you are a candidate to retain risk, there are dozens
of factors to consider upfront before making a change. Should you move
to a deductible, in many cases the insurance carriers will pay the
claims handling and legal costs associated with adjusting the claim; and you
will pay the actual damages. However, more often than not, a claim is
settled quickly without a vigorous fight in order to save on the associated
expenses, leaving you with unusually high costs for actual damages.
Within an SIR all of the associated expenses and actual damages are usually
retained by the employer as the insured. An SIR program often allows
you to select and hire your own claims administrator, defense counsel and
other related services ("your team"). You pay all these expenses in
addition to the actual damages. One important benefit of an SIR
program is once your team is in place you can keep it together year after
year leveraging the shared knowledge. You are free to move from
insurance vendors, when necessary, without your risk management program being
CONFINET consultants know insurance premiums
are cyclical moving in concert with the economy and catastrophic events
throughout the world. That's one reason why the global insurance
be monitored throughout the year and not just at renewal. The one thing you
can count on is change. That said, our management of an insurance
program helps eliminates the peaks and valleys that are common.
CONFINET consultants start the insurance process with a
Insurance Coverage Audit. Our review will immediately identify
CONFINET consultants will manage the competitive bidding process. We prepare bid specifications, notices to bidders and
evaluations of the proposal. Our process looks beyond the "low cost
provider" to a strategic vendor(s) which can integrate a complete solution at the lowest total
cost to our client. In order to accomplish this, vendors are screened by their
expertise, market knowledge, relationships with insurance companies as well as their
knowledge of the information systems included within the solution. We look for vendors who can think "out-of-the-box".
CONFINET consultants have the expertise to
structure surety bond lines and guarantees that will help your business
can arrange coverage to meet the varied demands of:
Large Multi State Employers
Group Self-Insurance Funds
Specific and Aggregate Workers' Compensation Excess
Large Deductible Workers' Compensation Insurance
Excess of Loss and Quota Share Reinsurance
CONFINET consultants have the resources to help you determine the
viability of captive and offshore insurance entities.
CONFINET consultants have the expertise
to design and negotiate the most competitive property insurance program.
Property insurance in the coastal regions have been hit hardest with
substantial premium increases and ever increasing deductibles. It is
critically important to be able to determine a fair estimate of your
probable maximum loss in the event of a cat event such as a
hurricane. We will be help you
arrive at comfortable retentions both financially and operationally.
CONFINET consultants invest much of their time throughout the
relationship learning your business.
During our interviewing process you'll find comfort knowing we are taking
the time to better understand your business and you are not being charged.
We make a substantial investment in every one of our clients.