Insurance - A Tool Within Your Risk Management Program

CONFINET consultants provide a wide-array of insurance services including 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 operating practices.  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 different industries. 

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 risk 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 adversely effected. 

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 market needs 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 comprehensive Insurance Coverage Audit.  Our review will immediately identify coverage gaps.   

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 grow. 

CONFINET consultants can arrange coverage to meet the varied demands of:

Individual Self-Insurers
Large Multi State Employers
Governmental Entities
Group Self-Insurance Funds
Associations
Purchasing Groups

Cover includes:

Specific and Aggregate Workers' Compensation Excess Insurance
Large Deductible Workers' Compensation Insurance
Excess of Loss and Quota Share Reinsurance
Surety Bonds

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.  

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