- Enterprise Risk Management (ERM) Alignment
Integrating the insurance program into the company’s overall risk management framework.
Identifying non-insurable risks and suggesting mitigation strategies.
- Business Continuity Planning
Recommending coverage that supports business continuity during disruptions.
Evaluating the adequacy of insurance for recovery costs, such as business interruption.
- Periodic Reviews and Updates
Establishing a schedule for regular insurance program audits.
Updating policies to reflect changes in operations, regulations, or market conditions.
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Deliverables
- Audit Report: Comprehensive documentation of current policies, gaps, and findings.
- Gap Analysis Summary: Clear identification of risk exposures and recommendations.
- Improvement Plan: Actionable steps for optimizing the insurance program.
- Cost-Benefit Analysis: Evaluation of proposed changes, including potential savings and enhanced coverage.