What is Loss Control and Risk Management Services?
Many business owners have never experienced what we at the Gion Insurance Group mean by “Loss
Control and Risk Management Services.” We do NOT mean simply facilitating an insurance company to
do their own analysis of risk which is what most insurance brokers do as a regular part of their job. Yes,
we do that as well. But we do a lot more!
Every business faces risk and has potential for loss. All business owners and managers make decisions
that could go right or wrong. Our goal is to be an advocate for our clients. Most of our clients see us as
an ancillary member of their business management team. We work directly with management to
analyze areas where the business might be at risk and then discuss strategies to deal with that risk.
Sometimes, but not always, that means buying insurance. But, sometimes, it means transferring that risk
to another entity or avoiding it all together. We have specialized training to assist and often us seeing
things from the outside gives us a fresh perspective that’s needed.
We should have a discussion to determine what services you have currently been receiving and how we
could better your company with services we provide. It’s also important to note that better than 90% of
the services we build in for every client are not charged for. We see the commissions that we earn as
compensating us. We only bill for services when we are providing significant additional service than
would be normal or when a business doesn’t generate enough premium through their commercial
policies to cover our expenses.
Why is Loss Control and Risk Management Important?
There are multiple reasons that every business needs comprehensive loss control and risk management
services:
- First, every business wants to avoid losses. Whether covered by insurance or not, there is a
financial impact to the bottom line for every claim, every loss, and every business decision that
went sour. - Second, please see the “Feeding Frenzy” section of our website where we talk about the various
ways we help businesses save money on their insurance. By demonstrating to the insurers we
work with that our clients are utilizing risk management and loss control services that we
provide, the insurers KNOW the risk will be better than average and more profitable. This
enables us to earn additional credits that apply to all insurance policies. Simply by a business
helping itself with our services, they will save money on their insurance premiums AND save
money by avoiding claims. - Finally, most businesses do not have employees trained and educated to evaluate and manage
risk. We work with hundreds of businesses and very few (even mammoth sized companies) have
true risk managers who are compensated solely to manage risk. Usually, this job is one of many
hats that a member of the executive team or senior manager must wear-all while balancing
many other tasks that must be done.
- First, every business wants to avoid losses. Whether covered by insurance or not, there is a
Here are some common Services, among others, that we can provide:
- The development of internal policies and procedures to prevent loss
- Analysis of operations to provide feedback and guidance on things that could be improved
upon to reduce or minimize risk and/or the potential for loss - Contract analysis and recommendations to discuss with legal counsel
- Reviews of leases and similar documents
- Review of Experience Modification Factors, open claims, and loss payouts and then
communication with insurers to reduce loss development concerns - Analysis of financial considerations for potential business changes
- Assistance with acquisition or merger of companies
- Teaching and training of employees on best practices
- And more
How Our Team Can Help:
Our experienced team of insurance professionals is here to guide you in determining your needs and finding the appropriate solution. We do this in several ways:
- Tailored Solutions: We understand that every client/situation is unique. Our team will work
closely with you to customize an insurance plan that meets your specific needs and budget. - Risk Assessment: We will conduct a thorough risk assessment of your operations or ownership
interests to identify potential hazards and recommend appropriate coverage options. This starts
with determining how you have utilized past help and where the biggest pains are for your
business. - Claims Review & Analysis: After a careful analysis of past claims, especially open claims, we will
work with you to determine ways to prevent future claims as well as work with your insurers to
close claims or reduce reserves where appropriate. - Expert Advice: With our in-depth knowledge of the insurance market, we can provide expert
advice and guidance to help you make informed decisions about your insurance coverage and
the overall risk your business faces.
- Tailored Solutions: We understand that every client/situation is unique. Our team will work
Get Started Today!
Protect your investment and minimize financial risks with our Loss Control & Risk Management Services.
Contact our team today to learn more about our insurance solutions and how we can help safeguard
your ownership or business interests.