Commercial Property

Commercial Property insurance protects your interest in property you own or for which you are responsible.  “Property” can include buildings, business personal property (excluding Automobiles), lost income, business interruption, and personal property of others on site and in insured’s possession. 

If you do not own your building, you will still need coverage for the contents.  In most policies, property insurance for business contents cover inventory, office equipment, machinery, furniture, fixtures and other supplies stored at your facility or off-premises.  These items can be insured for replacement cost or for Actual Cash Value (ACV), which will pay only for the depreciated value of the property. 

Especially important to note is that whenever any equipment is leased or rented, the contract requires that evidence of coverage be provided.  Since coverage is usually tailored to include coverage for leased, rented and non-owned equipment, it is usually not necessary to purchase coverage from the leasing or rental concern.  Not only is the coverage provided from the rental or leasing company expensive, but it may not cover all causes of loss.  Accordingly, rental or lease agreements should be reviewed thoroughly for the insurance provisions and requirements.

Business Interruption coverage is provided in the event your business suffers a property loss from a fire or other insured peril which could cause the business to slow or temporarily shut down while repairs are made.  This may mean a complete or partial revenue loss depending on the time frame and the damage.  Business Interruption coverage can replace your lost profits and cover operating expenses, such as utility costs, payrolls, rents, taxes, etc.,  that may still occur even if the main business activities are temporarily stalled.  In addition, some policies will cover expenses incurred from operating out of a temporary location while the original premises are being repaired.

Extra Expense insurance reimburses your business for reasonable expenses beyond normal operating expenses that keep the business from shutting down during a post-disaster restoration period. Usually, extra expenses will be paid if they help decrease business interruption costs. Some companies may find extra expense coverage sufficient without business interruption coverage.

Boiler & Machinery coverage insures damage to scheduled boiler and machinery equipment, damage to buildings and contents caused by insured accidents, and expediting expenses incurred to recover after a loss.  Coverage is necessary because standard property policies exclude explosion of steam boilers, mechanical breakdown, and artificially generated current when no fire ensues.

Builders Risk

Indemnifies for loss or damage to buildings while under construction.  The policy may be written on a project’s completed value (100% coinsurance) or on a reporting form (values reported as completed) basis.  Coverage includes losses due to fire, vandalism, lightning, wind and similar forces.  It usually does not cover earthquake, flood, acts of war or intentional acts of the owner.  The Builders Risk policy may also include coverage for items in transit to the construction site (up to a certain percentage of value) and items stored at the site.  Safety measures, such as having security service patrol the construction site at night or fencing the construction area to prevent general public access are looked upon favorably by insurance companies and allow them to apply appropriate credits for safety. 

Commercial General Liability

General Liability insurance provides coverage for the insured for bodily injury or property damage losses they are liable for as a result of their operations, products, completed operations, or use of their premises.  It is important to note that with a few exceptions, the damages must arise from bodily injury or property damage to a third party.

Adding another entity or person as an additional insured on a policy extends the policy to provide coverage for that entity as if they were the first named insured on the policy in most cases.

Many customers may request wording in the policy that the coverage be primary or non-contributory.   Most General Liability policies have clauses that state that if other valid and collectible insurance is in force, the insurance carrier is responsible for only their pro-rata share of any loss.  This presents a problem when an entity is an additional insured on another entity’s policy.  As stated before, additional insured status conveys most of the rights of the first named insured, and since it does, by definition, other insurance exists.  Therefore, whenever these requests are made, it is important to address them, and tailor the coverage accordingly.

All Policies contain exclusions, many of which are significant, and although too lengthy to address here, some are worth mentioning:

Care, Custody, or Control Exclusion -  Property in the care, custody, or control of an insured is not covered by the general liability contract.  This property is usually the subject of property insurance.  This is especially important to note, and you may have situations where you are performing operation and/or maintenance of a remediation system, and your actions cause damage to a system or equipment owned by your customer.  By virtue of the fact that you are maintaining that property, it is deemed to be in your care, custody, or control.

Pollution Liability and Professional Liability are specifically excluded from the general liability policy, as they are the subject of other insurance.  Since general liability policies do not usually have a deductible provision, and pollution and professional liability policies usually have high deductibles, it is important to understand fully the circumstances of any claim to determine which policy should respond.

Commercial Package Policy

A Commercial Package Policy (“CPP”)is a customized package of two or more coverage forms. The package policy is comprised of the same coverage forms that are used when separate (monoline) policies are written. A premium discount is generally granted when separate coverage parts are purchased as part of a Commercial Package policy. A CPP policy provides only the coverages selected by the policyholder which can consist of only general liability and building and/or contents property coverage, or can also include several other coverage forms. The most common coverage forms include commercial property, commercial general liability, inland marine, crime, equipment breakdown, and commercial auto.  All coverage forms on a Commercial Package policy must be selected and tailored to the particular risk.

Workers' Compensation is generally not included as a part of a Commercial Package Policy. Specialized coverages such as Directors' and Officers' Liability and Fiduciary Liability are written independently from a CPP.

The premium is based on a variety of factors, depending on the types of coverage forms included in the package. For property insurance, the age, construction, and value of the building will greatly impact the premium. For liability coverage, the inherent risk of the insured’s operations and products will affect the premium.

Owners And Contractors Protective Liability (OCP)

An Owners and Contractors Protective Liability Policy or OCP is a type of General Liability policy.  This policy, which is usually issued by the contractors’ insurance carrier is a separate contract, and provides a separate set of limits for the owner of the project.  It is important to note that these policies are owner and project specific, so the same policy is not usually acceptable for two different projects, even if they are for the same client.

This policy provides coverage for that owner for liability claims arising as a result of the actions of a contractor or subcontractor.  The cost for these policies vary of the scope of work, duration, etc.  As separate policies, they have to be requested in advance of the inception date of a project. 

Business Automobile Liability

The liability coverage of the commercial auto policy provides protection against legal liability arising out of the ownership, maintenance, or use of any insured automobile.  The insuring agreement agrees to pay damages for bodily injury or property damage for which the insured is legally responsible because of an automobile accident resulting from the ownership, maintenance, or use of a covered auto.  The insuring agreement also states that in addition to the payment of damages for which the insured is legally liable, the insurer also agrees to defend the insured for all legal defense costs.  The defense cost is in addition to the policy limits.

Liability coverage is provided for all autos owned by the named insured.  The owned auto symbol is used for liability insurance only. Liability coverage is also provided for autos not owned, leased, hired, or borrowed by the named insured.  Coverage includes autos owned by the insured's employees or members of their households, but only while used in the named insured's business or personal affairs.  Liability coverage can also be provided for autos leased, hired, rented or borrowed for use in the named insured's business.

Comprehensive coverage provides protection against loss or damage to a covered auto resulting from loss other than a collision or upset.  Collision coverage provides protection against loss or damage to a covered auto or a non-owned auto resulting from the impact with another vehicle or object.  Collision losses are paid regardless of fault.  These coverages, collectively known as physical damage, apply solely to vehicles owned or hired by the insured. 

Workers’ Compensation

 

Workers' compensation insurance protects employers from claims resulting from injuries to employees. It protects your business from lawsuits and provides employees with compensation for on-the-job injuries.

This coverage agreement obligates the insurer to pay all compensation and other benefits required of the insured by the workers compensation law or occupational disease law of any state listed in the policy.  The coverage applies to bodily injury by accident and by disease.

Each workers compensation policy has an Experience Modification Rating Factor, often known as an EMR or Experience Mod.  This is a factor that deals with the rating of the policy.  The Experience Modification figure is based on the insured's loss experience.  The factor is used to increase or decrease the manual rates of insurance.

There are four states that require all workers compensation insurance to be placed with their state funds.  No private insurer is allowed to write Workers Compensation coverage in these monopolistic states.  These states are: North Dakota, Ohio, Washington and Wyoming.

Workers Compensation laws of most states exempt some types of employment from workers compensation benefits. In order to respond to those excluded classes, a voluntary compensation endorsement is added to the policy.  This endorsement amends the standard policy to provide coverage for employees with exempted occupations from the workers compensation act.  When the endorsement is added it does not make employees subject to the workers compensation law, but it obligates the insurance company to pay on behalf of the insured, an amount equal to the compensation benefits that would be payable to those employees if they were subject to the workers compensation law of that state.

 

Environmental/Pollution Liability 

The Environmental/Pollution Liability policy provides coverage for damages arising from the release or threatened release of “pollutants”.  Since pollutants are defined as liquid, solid, gaseous, and/or thermal irritants, the list can be extensive.  Pollution liability policies are usually written with a deductible or self-insured retention, which is the amount the insured must pay before the insurance company pays.   Pollution Liability can be written to cover clean-up costs and third party liability.  These coverage forms are not standard and may vary from one insurance company to the next.

Protecting yourself from the varied and complex environmental issues facing your company can be a daunting task.  Most insurance policies exclude coverage for pollution related events, and the definition of pollution conditions is so broad that you may not be protected from many of the operational exposures of your company.  ISSI has specific expertise in developing insurance and risk management programs for our commercial clients to address their environmental impairment exposures. 

Our clients include Environmental Consultants, Remediation Contractors, Property Owners and Managers, Industrial Plants, Manufacturers, General and Artisan Contractors, Transportation Companies, Petroleum Tank Owners and Hazardous and Non-Hazardous Waste Haulers.

Whatever your particular exposures might be, we can help you with:

·         Underground Storage Tank Liability

·         On Site Environmental Impairment Liability

·         Third Party Pollution Liability

·         Contractors Stop Loss/Cost Containment Coverage

·         Consultant’s Professional Liability

Umbrella/Excess Liability

Umbrella liability insurance provides excess liability coverage over several of the primary liability policies, most notably Employers Liability, General Liability, and Automobile Liability.  Generally, Umbrella policies do not provide coverage over non-standard forms like pollution, or professional liability.  Most umbrella liability policies provide coverage that is broader than the insured's primary policies.  An excess liability policy may be what is called a following form policy, which is subject to the same terms as the underlying policies.  It may be a self-contained policy, which means it is subject to its own terms only, or it may be a combination of these two types of excess policies. 

Umbrella policies have three functions:  (1) To provide additional limits above the Each Occurrence limit of the insured's primary policies, (2) To take the place of primary insurance when primary aggregate limits are reduced or exhausted, and (3) To provide broader coverage for some claims that would not be covered by the insured's primary insurance policies, which would be subject to the policy retention.  Most umbrella liability policies have one comprehensive insuring agreement. The agreement usually states it will pay the ultimate net loss, which is the total amount in excess of the primary limit for which the insured becomes legally obligated to pay for damages of bodily injury, personal injury, and advertising injury.

Professional Liability (E&O)

Professional Liability coverage is intended for entities or individuals who are subject to more stringent standards or a higher degree of care than the general public, because of a specific expertise, training, or educational background. This coverage, also known as Errors and Omissions coverage, provides coverage for certain damages arising from an error, omission, failure to perform, breach of warranty, personal injury, intellectual property, security, etc.

Under most coverage forms, the insured entity, as well as officers, shareholders, partners, and employees are covered while performing duties within the scope of their employment.  These individuals have the same rights under the policy as the insured entity.

Usually, an insurance company will not add another entity as an additional insured under the professional liability section of the policy, nor will they offer a waiver of subrogation.  Their rationale is that if another entity feels the need to be named as an additional insured under the professional liability coverage form, conveying the same rights and coverage, that entity must be exerting control in the professional area, and should be held to the same standard of care.  That being the case, they are reluctant to waive their rights to subrogate in the event of a loss.  In situations where clients make those requests on these coverage forms, the details of the project, including scope of work, duration, etc. must be considered in order to obtain approval from the carrier.

The General Liability policy excludes coverage for professional liability.  Since some of the exclusions in the policy are fairly encompassing, so many companies have the need for a Professional Liability policy.

Surety Bonds

Bond Request Form

Bonds are not an insurance policy, although they are often offered by insurance companies.  A bond is a financial instrument where one party agrees to make good the default or debt of another.  There are several types of surety bonds that you may encounter, but since they are all financial guarantees, the insurance company will always want to know the scope of the work, the duration and size of the project, and the financial guarantee amount.

Contract Bonds, also known as bid or performance bonds are instruments used to guarantee the performance of a contractor.  With a bid bond, the insurance company or surety promises that if the contractor bids a specific amount for a project that they will enter into that contract if awarded the job.  If the contractor (principal) defaults, or refuses to enter into that contract, the surety agrees to pay the owner or obligee the difference between the contractors’ bid and the next lowest.  A performance bond is similar in that the surety agrees to complete the project once a contract is entered into.

Other miscellaneous bonds include permit and license bonds, which guarantee that a person or entity licensed by a governmental organization will perform those duties for which the permit or license was granted.  Street Opening Bonds guarantee that a street roadway, highway, etc. ill be restored to the condition prior to the issuance of a permit for certain work operations.

Since bonds are not insurance policies and must be negotiated, certain information is a necessity prior to obtaining a bond.  Click below for our bond request form which illustrates the information needed to obtain and issue bonds.

Crime Insurance

Protects your business from dishonest acts of your employees, fraud and forgery, and other criminal acts. 

Every company, regardless of size, is a potential target for white collar crime.  Experts acknowledge that this is one of the fastest-growing, most prevalent problems facing business today. The changing economic environment, advancements in technology and international expansion make the threat of loss more ominous than ever before.

According to a recent study by the Association of Certified Fraud Examiners (ACFE), it estimates the average business is losing six percent of its total annual revenue from losses involving employees — on average more than $9 per day per employee.

Directors & Officers Liability

Since Directors & Officers can be held personally responsible for the acts of your company, this coverage will provide financial protection for these individuals for claims arising out of performance of their organizational duties, such as alleged errors in judgment, breaches of duty, and wrongful acts.  It provides protection from the risk of suits that can result from every day management business decisions.

Employment Practices Liability (EPL)

Get an Employment Practices Liability quote

EPLI helps to protect businesses against claims from a third party (usually an employee, prospective employee, or business associate) that result from the general conduct of your business.  Coverage is typically provided for wrongful termination, breach of employment contract, harassment, negligent hiring, training, discrimination, misrepresentation, defamation,  emotional distress, etc.

No company is immune to these potential lawsuits.  Company layoffs, plant closings and wage freezes in economic downturns can greatly increase EPLI exposures.  Remember as a business owner, you don’t have to do anything wrong, someone just has to say you did.  Even if the employer is completely without fault, the costs to prove it can be substantial. 

(Employment Practices Liability – How Can You Protect Yourself? – Click here)

Fiduciary Liability

With an employee’s personal assets at stake, it is vital that any organization with an employee benefit program purchase Fiduciary Liability protection. 

Fiduciary Liability provides financial protection for fiduciaries of employee benefit plans against legal liability arising from claims for alleged failure to prudently act within the meaning of the Pension Reform Act of 1974.  Group life and medical expense plans, as well as pension and retirement plans, are within the scope of the law.

Two other types of "coverage" related to fiduciary liability insurance are Fidelity Bonds and Employee Benefits Liability (EBL) insurance.

Fidelity Bonds are required by law (ERISA bonding). This is a form of insurance for dishonesty situations. When dishonest administrators or trustees have financially harmed an employee benefit plan, these bonds may be used, but only for the benefit of the plan and the plan's beneficiaries. This bonding insurance will not protect the trustees themselves from liability claims and is thus completely distinct from fiduciary liability insurance.

Employee Benefit Liability (EBL) insurance covers many claims arising out of errors or omissions in the administration of a benefit plan, including the failure to enroll an employee in the plan as well as the administration of improper advice as to benefits.

Aviation Insurance

There is a broad spectrum of aviation/aerospace ground and flight related risks and specialized insurance policies which can be tailored to address your particular risk profile. ISSI can assist you in exploring insurance, risk management, safety and loss control options available for general and commercial exposures.

We work with major insurers and service providers dedicated to the aviation/aerospace industry to analyze your potential for loss and protect your business with comprehensive approaches for:

·         Aircraft Hull & Liability for Private, Industrial Aid and Commercial Aircraft Owners or Operators

·         Aviation General & Premises Liability

·         Aircraft Charterer’s Liability

·         Aviation Workers Compensation and Employer’s Liability

·         Aviation/Aerospace Products Liability for Manufacturers and Distributors

·         Satellite Transit, Pre-Launch, Launch and In-Orbit Risks

·         Hangarkeepers & Groundskeepers Liability

·         Maintenance & Repair Operations

·         Fuel Providers & Fuelling Operations

 

Detailed coverage definitions and exclusions are determined by individual policy forms and we recommend that each form be thoroughly reviewed with your broker.

Marine Insurance

Marine & Air Cargo – Ocean, Air , Inland shipping and warehousing companies typically carry insurance covering their own legal liability for loss or damage (for insured perils) to goods you entrust to their care, custody and control however, that insurance may be inadequate to fully reimburse you in the event of loss.  An Open Cargo Policy is a continuous contract of insurance which remains in force from date of attachment until cancelled by either party with prior written notice.  Special Cargo Policies can be arranged for individual shipments as well. These policies typically cover goods and merchandise which the policyholder is responsible to insure (because of ownership interest or contractual obligation) while in transit via ocean, air or land modes of transportation against “all risks” or specified risks of physical loss or damage from an external cause. Coverage can apply from warehouse to warehouse and includes temporary storage during interruptions in transit. Policies can be extended to include coverage for long term storage and processing risks until delivery to final destination. Coverage can be included for War Risks, Strikes, Riots & Civil Commotions(S.R. & C.C.).  Merchandise is typically valued at C.I.F. + 10%

Typical Exclusions include Deliberate, Expected and Pre-Existing Damage, Damage caused by manufacturing, assembly or processing, Improper Packaging, Abandonment of Cargo, Customs Rejection, Lack of timely loss reporting, Shortage and Non-Delivery, Land Based War Risk, Land Based War Risks, Delay and Loss of Market, Illegal Ventures and Employee Dishonesty. Full coverage details will be dictated by negotiated coverage terms and specified in each policy form, as policies are tailor-made to fit an insured’s specific needs and address a client’s unique operational risk exposures.

 

If you have a frequency of shipments and favorable loss experience, premiums for “All Risks” coverage will likely be lower than those offered by 3^rd party shippers and can be adjusted to reflect your efforts on an annual basis. 

Some benefits insurers offer are advisory services for loss prevention and pre and post shipment surveys to help ensure successful, timely delivery of your goods.

Stock Throughput can eliminate potential gaps in coverage and simplify claims handling and adjustment by having your cargo and stock under the same policy form, with shared underwriters.  This policy covers your company’s goods and merchandise (including cargo, inventory, raw materials, work-in-process and finished products) anywhere in the world where you retain an insurable interest. This policy provides “All Risks” coverage, including War, S.R. & C.C., as per the marine cargo policy for transit risks and typically affords larger limits per location with fewer aggregate limit restrictions for wind, flood and CA Quake exposures than property markets.

Policy form wording can be tailored to address your company’s particular needs and operational risks.  Deductibles are often negotiable for warehousing/storage and retail locations at lower levels than those available with standard property insurance markets.

Reducing stock values under property policies allows you to access less of the more expensive catastrophic risk capacity and utilize fewer insurers for stationary assets (buildings, furniture, fixtures, machinery and equipment, etc.).  In addition,

Cargo Legal Liability Insurance provides coverage for legal liabilities imposed upon Freight Forwarders, NVOCC’s, Motor Carriers, Air Carriers, Bailees and Warehousemen for loss or damage to goods in their care, custody and control as a result of insured perils.

Marine Hull & Machinery Insurance covers the physical structure of a vessel, fixed appurtenances and equipment and power and heating generation systems for physical loss or damage resulting from various perils, including but not limited to, heavy weather, fire, explosion, piracy, collision, bursting of boilers, negligence of ship’s masters or crew, shiprepairers, loading and unloading of cargo and other risks as per policy. Coverage also provides liability coverage for damage to other vessels caused by collision.

Coverage may be extended to include War Risks, Strikes, Riots & Civil Commotions.

Typical Exclusions are Deliberate damage or willful misconduct of insured, Loss caused by delay, Gradual Deterioration, Wear and Tear, Infestation and Nuclear

Protection & Indemnity (PANDI or P&I) is a very broad form of marine legal liability insurance that provides coverage for bodily injury, illness, medical expenses and loss of life to crew members, 3^rd party bodily injury and property damage resulting from operation of your vessel, liability for collision with other vessels (portion not covered by Hull insurance) and fixed objects, wreck removal and defense costs for claims and legal actions. May include coverage for repatriation of injured crew, lost wages and cargo legal liability.

Terminal Operator’s Liability can combine coverages for all Marine Liabilities related to your terminals operations including, but not limited to Wharfinger’s Liability, Ship Repairer’s Liability, Stevedore’s Liability and Pollution Legal Liability. Coverage is tailored to your specific operational needs.

 

Stevedore’s Liability covers legal liability for third party property damage and bodily injury arising out of vessel loading and unloading by your personnel.

Wharfinger’s Liability insures against legal liability claims for third party property damage and bodily injury claims arising out of your ownership of a wharf or pier.

Charterer’s Liability provides protection for legal liability arising from a charter party (full or partial vessel lease) contract, which may require obtaining Hull and Protection and Indemnity insurance as per contract specifications.

Shiprepairer’s Liability insures against third party legal liability claims for bodily injury, property damage and additional risks related to vessel repair operations.

Builder’s Risk Insurance provides coverage for specified perils while vessel is under construction for the period from beginning of construction, through vessel trials, until delivery to owner/operator. The valuation of coverage is to be agreed but is typically based upon the buildup value of the vessel during construction, contract price or completed value of the vessel.

Marina Operator’s Liability packages various coverages to protect Marina Owners/Operators for legal liability arising from repairing, mooring, storage, dockage, launching, transport and fueling of watercraft and may be tailored to address your unique operational exposures, including trials and demonstrations by employees.

Marine Excess Liability & Bumbershoot provides Excess Liability coverage for companies with extensive marine liability exposures. Can be arranged as specific excess coverage following the terms and conditions of underlying primary marine policies or as excess liability protection above primary marine and non-marine liability coverage.

Defense Base Act Coverage

Federal law requires all U.S. government contractors and subcontractors to secure workers’ compensation insurance for their employee working overseas.  Defense Base Act coverage is designed to protect employees who works as civilians outside the U.S. for our nation or any other – on both military and non-military projects.  DBA coverage extends benefits payable under the U.S. Longshore and Harborworkers’ Compensation Act.

Failure to obtain DBA insurance can result in fines and possible loss of contract.  An additional and most severe penalty is that employers without DBA coverage are subject to suits under common law, wherein common law defenses are waived. In other words, the claimants or their heirs need only file suit and do not have to prove negligence. Lastly, all claims may be brought in Federal Court and are against the insured directly.  These cases can be very costly, and should be a source of great concern for government contractors operating overseas.

Product Liability

Product liability insurance protects you against financial loss arising out of the legal liability incurred by an insured because of injury or damage resulting from the use of a covered product.  When it is part of a commercial general liability policy, the coverage is called products-completed operations insurance.

Liability can extend to any or all parties along the chain of manufacture of covered product.  Therefore, manufacturers are not the only ones subject to product liability exposure, retailers and wholesalers are often brought into a lawsuit for alleged negligence by the consumer. 

If your company provides any products to the consuming public, then your company needs product liability or completed-operations coverage. In most cases, some form of this coverage will be present in the standard commercial general liability or business owners' policy. You will need to confirm this with your insurance professional. You will want to have a clear understanding of what is covered (for example, some policies will cover economic damages, but not punitive or statutory damages).

International Liability

This policy provides liability coverage for foreign operations arising out of a permanent branch office, manufacturing facility, construction project, or other operation located in another country. The commercial general liability (CGL) policy provides coverage for incidental exposures, e.g., when an executive who lives and works in the United States and occasionally travels overseas for business trips. For permanent operations in foreign countries, a separate foreign liability policy is required.

If you have any of the following exposures, an International Liability should be purchased:

• Your company manufactures and distributes products outside of the U.S. Foreign liability insurance will protect your company in the event an employee faces foreign lawsuit or injury. It will protect assets that may become seized, allow for the continuation of future foreign business, and may allow foreign judgments to be satisfied in the U.S.
• When your company rents offices or runs meetings, demonstrations or tradeshows in foreign companies. Purchasing foreign liability insurance protects for damages or injuries arising from such operations.
• When any of your employees temporarily work in foreign territory and face injury or death, need immediate medical attention, or request emergency evacuation.
• When employees, in a foreign country, need emergency travel services in the case of language barriers or political, medical or legal problems.
• When your company employee uses a vehicle outside the U.S.
• When employees face kidnap and extortion potential.

Premium Financing

We work with several Premium Finance companies to assist our clients in covering the cost of insurance premiums.  There are a number of benefits to financing an insurance premium.   These include:

• Eliminates the requirement for a large up-front payment to an insurance company.
• Multiple insurance policies can be attached to a single premium finance contract, allowing for a single payment plan to cover all insurance coverage.
• Allows for clients to obtain needed coverage without liquidating other assets.

 

Risk Management & Consulting

ISSI's objective is to analyze your particular risk management and/or insurance program with the purpose of identifying areas where meaningful improvement can be made. Acting as an agent, broker, or consultant, our focus is the same. We ask our clients and prospective clients the following:

• What risk management techniques are in place to reduce overall costs?
• When was your last risk management audit of losses, safety programs, and insurance issues?
• How recently has the Workers Compensation Experience Modification rating been reviewed for accuracy?
• How will changes in the insurance marketplace, and your operations affect your financial picture?
• Are uninsurable loss exposures addressed, and/or funded?

After our comprehensive review, we study the potential of alternative funding mechanisms for our clients, including captives, risk retention groups, and mass purchasing programs.