Loss Exposure Analysis

Performing a loss exposure analysis is a critical part of protecting an organization's assets. At IAC we do this by interviewing appropriate individuals with a detailed questionnaire. We also complete an on-site inspection of your premises to look for possible exposures.

Corporate Insurance Audits

Most organizations are unaware of the "fine print" in contracts. An independent insurance audit is necessary to protect your organization, employees, directors and officers. There are hundreds of exclusions and terms and conditions that organizations should review, many of which should be modified and or removed if possible. IAC provides you with a comprehensive customized report of your coverage, including an executive summary, summary of your insurance coverage, insurance recommendations, loss prevention techniques and a glossary of insurance terms.

Request for Proposal/Bid Specifications

In order to maintain the lowest possible premium, you should obtain outside competitive bids every 3 years. Bid specifications prepared by independent insurance professionals assure that your organization will have the optimum coverage at the lowest possible cost. This is particularly true in today’s marketplace when insurance premiums are increasing and coverages are being restricted.

IAC prepares and facilitates the Request for Proposal (RFP) and oversees the bidding process. We have an extensive document that establishes the parameters and conditions for the RFP. It also includes the necessary underwriting data and the appropriate coverage with the broadest possible terms and conditions. All brokers receive a copy of these specifications along with a coverage checklist, which they are required to complete.

In addition, we also prepare a detailed bid analysis outlining the proposals presented by each broker, create an overview of the findings and provide you with clearly defined recommendations.

Contractual Agreement Review

Reviewing business contracts such as equipment and building leases are critical. We ensure that you are not in breach of contract in terms of the insurance requirements. We also review how broad the hold harmless agreements are as well as verify whether a waiver of subrogation clauses was established.

Claims Analysis

Reading insurance company loss runs can be difficult. We prepare a clear and concise claims analysis detailing the date of loss, description, claimant, amount paid, reserves, amount incurred and whether the claim is open or closed.

Discriminating Insurance Buyers Retain a Risk Management Consultant for the following:

■ "In-House" Expertise

■ Insurance Representation

■ To level the "playing field" with their broker

■ Lowest Possible Premium

■ Broadest Available Coverage

■ Peace of Mind