Managed Exposure Program
We created The Managed Exposure Program because many companies get into trouble when they simply buy insurance and don’t take the time to manage their risk strategically. Thus, they often waste time and money, experience unnecessary stress and worry, and their business suffers.
By taking the time to strategically manage your risk, you will be more likely to save time and money, feel more relaxed and confident, and you will have a better platform for the future growth and prosperity of your business. By proactively managing your exposure to risk, you can ensure you have done everything possible to protect your company and its assets.
For this reason, we recommend you: 1) Perform a full exposure risk audit and assessment; 2) Develop a strategic asset protection and risk management plan; and, 3) Implement the plan while consistently reviewing new growth-related risks.
“We have worked with Steve and his team at RRS for many years. They’ve helped us successfully transition to loss sensitive programs that have benefited our organization greatly through program structure and attentive claims management. Their Managed Exposure Program has been extremely helpful to our organization in ensuring that our insurance program contemplates our various business activities. We highly recommend RRS.”
Marney Whittaker – Risk and Safety Compliance Officer
Legal Sea Foods, LLC
Manage your risk exposure
Learn how the Managed Exposure Program can help you manage your risk exposure.
The purchase of complex property insurance can be a challenge. Carriers may have experienced losses that have led them to stricter underwriting guidelines, changes in terms, or restrictive endorsements added to their policies. One way to address these challenges is by using a layered approach. Many people are familiar with purchasing liability limits whereby a primary general liability policy is purchased and excess limits are obtained via an umbrella policy. Property insurance can be approached in much the same manner. Given the fact that the bulk of the exposure to loss is in the primary layer, the excess layers can be purchased at lower premium levels, which enables these programs to be competitively priced.
When purchasing programs like this, working with an experienced broker is key. It is important that the program be crafted in a way that all the various policies are dovetailed together to avoid uncovered claim situations. We have worked with a variety of businesses on this type of placement including real estate, healthcare, manufacturing and hospitality facilities.
We assist many of our clients in structuring programs that include large deductibles, retrospective rating programs and captive options. Larger, more complex accounts that that have more statistically predictable losses may want to consider a different type of program structure to provide both premium savings and better cash flow options.
Additionally, market conditions may dictate that certain exposures warrant “risk sharing” mechanisms. We are experienced in helping our clients select appropriate retention levels that mitigate risk and achieve attractive premium options. We work with large manufacturers, hospitality, real estate and healthcare accounts to do just that. Proper attention to claims management is key, and placement made by experienced brokers with service oriented carriers is a must.