Based in 1946, Kapnick Insurance coverage is an impartial skilled advisory agency with Michigan roots and a worldwide attain. Our 180+ colleagues present knowledgeable steerage and inventive drawback fixing pertaining to enterprise insurance coverage, threat options, worker advantages, worksite well-being, and private insurance coverage to an enormous and numerous base of shoppers worldwide. We innovate. We associate. We lead shoppers in new instructions that reduce threat and scale back value.
Danger administration is the identification, evaluation and prioritization of dangers to reduce, monitor and management the chance and impression of losses. Efficient threat administration actions create worth and must be an integral a part of the decision-making course of.
Danger administration impacts your backside line within the following methods:
- Offers alternatives for higher pricing on insurance coverage premiums
- Saves out-of-pocket prices like deductibles
- Ensures a secure and steady setting for workers, volunteers and clients
- Helps you perceive and be ready for dangers earlier than losses happen
Methods for addressing an recognized threat embrace the next:
- Danger avoidance, which incorporates eliminating actions that contain threat and avoiding creating actions that contain threat.
- Mitigation or prevention to cut back the chance of losses occurring or lessening the impression of losses ought to they happen. That is finished by way of managing legal responsibility by structuring actions and applications in ways in which scale back or restrict institutional threat.
- Danger switch, which suggests diverting both the danger or monetary penalties of a loss to a different get together. Danger switch could be finished by way of insurance coverage insurance policies, indemnification agreements, or releases and waivers.
- Danger retention accepts that some threat is inherent within the actions of operation. Danger retention methods embrace self-insurance, deductibles, and/or deciding to not buy an insurance coverage coverage for a particular publicity.
At Kapnick, we’ve a wide range of sources that can assist you handle your dangers. These embrace:
- Seasoned consultants and observe teams who perceive your corporation, be a part of trade associations, get to know the folks answerable for guaranteeing security and loss management – and study from their first-hand experiences.
- Kapnick threat options, with on-site loss management evaluations, complete declare evaluations and program design and implementation.
- Kapnick Danger Providers Middle, a novel program that gives web-based threat administration instruments and supplies your group wants to assist scale back accidents and enhance profitability.
- RisKap, a complete threat evaluation that solves the issues shoppers have when shopping for insurance coverage and managing and controlling threat. By unveiling your insurance coverage rating, Kapnick is ready to craft a customized plan of motion to mitigate threat as a lot as attainable with a view to guarantee success of your corporation.
This text was written by Mark Arbaugh, a associate and property & casualty threat marketing consultant at Kapnick Insurance coverage. Mark drives a proactive staff strategy towards simplifying complicated insurance coverage issues and makes use of data-driven analytics to benchmark corporations in opposition to their digital peer teams, providing strategic path to govt groups. To work with Kapnick’s threat administration consultants, attain out to us at [email protected] or 888.263.4656. Kapnick has a wide range of sources and instruments that can assist you construct an efficient threat administration program.
