Risk Management
Not all insurance claims are preventable; however, certain steps can be implemented to help minimize the chance of loss.
Outlined below are a few of the many items offered at Shield National to manage and control the risk of their clients:
Risk Control Training
Through Risk Control training, we will delve into a company to see where they can better improve the safety of their organization. Below are a few tools we use to help companies control their risk:
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Carrier inspection/risk control visit (by appointment only)
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Telematic Device program for auto fleets
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Driver incentive/watch program
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Hold Harmless agreements for products sold and services performed
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Fleet Safety Program
Workers Comp Consultation
Workers Comp can be one of the most costly of insurance products, if not managed correctly. Below are tools we use to help companies manage their Workers Comp policies:
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Correcting errors found in a Workers Comp audit
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Workers Comp classification consultation
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Minimum X-mod consultation
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Employee hiring process
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Claim process after an employee is injured
Coverage Analysis
Cutting insurance costs is extremely important, but even more important is obtaining a policy that actually provides the coverage needed during a claim. Having an uninsured loss can result in paying hundreds of thousands of dollars in out-of-pocket expenses. Legal costs are at an all-time high. Even if a company wins in court, the cost to fight a claim can leave that company penniless.
Shield National analyzes the policies of all our potential clients, to determine if there are any gaps in coverage that could potentially result in an uninsured claim.
Additional Insured Implementation
Spreading risk is a term used not only in the stock market, but also in insurance. Just because a company provides a service or offers a product that causes bodily injury or property damage to a 3rd party, does not mean that company is the only one held liable in a claim. There are ways a company can spread risk by requesting Additional Insured status among the manufacturers and service providers they work with.