Risk Management Blog - ClearRisk

7 Tips on How to Control Your Organization's Insurance Costs

Posted by Kayla Hickey on Fri, Jun 9, 2017 @ 15:06 PM

 

Organizations are constantly searching for opportunities to reduce insurance costs. Companies need to view their role in the insurer/insured relationship differently. The insurance company isn’t selling you insurance; you are selling them your risk. Don't let them assume what you do and what your risks are. By providing detailed risk management plans including your organizations ability to produce and implement trend analysis reporting, your organization is promoting its proactive, risk consciousness environment. When history is unknown or the internal approach is more reactive than proactive, insurers will typically err on the side of caution. This frequently translates into higher premiums and more restrictive coverages and limits.

Follow these tips below to get the best insurance for your organization:

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Topics: risk management insurance, insurance broker risk management, risk management tips, Insurance and Insurance Purchasing

10 Risk Management Strategies for Retailers

Posted by Maegan Marshall on Thu, Oct 27, 2016 @ 11:10 AM

Retail is a risky industry. With consumer purchasing tendencies trending towards the online marketplace, business owners must think outside-the-box on issues which could affect their bottom line and reputation. We’ve compiled ten tips that will help in changing this focus to major risks associated with the retail industry.

Here are three points to get you started: Risk Ownership, Protecting your Brand, and Safeguarding the Supply Chain. These are simple measures that can help lessen the severity in case of an incident. Say a potential customer wants to buy product from you but it is out of stock. “Not a problem!” you say and offer to order it in for them - only to find out your supplier doesn’t have any either. The last batch of product was just sold to your competitor and won’t have more available for a month. You try to explain this to the customer but it’s no use. They head to Facebook where they post a complaint. As quickly as that, a potential customer can switch to a competitor and tarnish the reputation of your business, all at the same time. Head over here for a real-life supply chain scenario between Nokia and Ericsson which discusses a similar situation.

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Topics: supply chain risk management, Claims and Risk Management for Retail, retail risk management, Retail Risk, risk management tips, risk ownership, brand risk management

8 Risk Management Points Every Broker Should Know

Posted by Craig Rowe on Sat, Dec 10, 2011 @ 01:12 AM

Mid-market is the most profitable and coveted segment, and therefore the most fiercely competed over. Medium-sized companies have the same problems as Fortune 500 companies, just on a smaller scale.  The problem lies in risk solutions; these solutions don't scale and small companies are unsure of where they can turn for help. As a result, medium-sized businesses do not benefit fully from risk management.

Insurance brokers deal with these companies every day, sharing advice on one important aspect of risk: their insurance. Brokers specialize in helping these same companies use broader risk management resources, tools, and services. If the brokers do not provide risk management services, others will: accountants, lawyers, and OHS and WCC consultants. Insurance brokers should talk to their clients and prospects about risk management in a way they understand. Here are 8 points every insurance broker should discuss with their client:

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Topics: ClearRisk, Craig Rowe, risk management insurance, broker, What is Risk Management, risk management services, Clear Risk, risk mitigation, risk, risk management, risk management blog, insurance, selling risk management, ERM, enterprise risk management, risk management tips, brokers, Insurance and Insurance Purchasing, Managing Risk, Risk Management advice, Key points to Risk Management, Insurance Broker ClearRisk Manager, Must know on Risk Management How to deliver Risk M

ClearRisk Social Media Giveaway: Winner Announcement!

Posted by Craig Rowe on Thu, Jun 2, 2011 @ 14:06 PM

A month ago, ClearRisk launched a contest to give back to our devoted followers on social media. We received over 4,000 entries to win an iPad 2 through our social media channels (Facebook, Twitter, LinkedIn). In particular, our Social Media Giveaway blog post received some great comments in response to the question, “What does Risk Management mean to you?”

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Topics: risk management social media, risk management tips, social media giveaway

How to Make Your Clients Understand the Value of Risk Management

Posted by Craig Rowe on Tue, Mar 29, 2011 @ 12:03 PM

Recently, I wrote a guest post for our partners Sitkins International. ClearRisk is a strategic partner of Sitkins International and provides Sitkins members with a way to deliver the risk reduction approach online ™.

This post summarizes the first of three steps in helping your clients understand the value of risk management.

The insurance market is fiercely competitive. Insurance agents and brokers (hereinafter agents) need ways to create a competitive advantage to attract and retain business. There is a great opportunity for agents to really differentiate themselves by helping clients to manage risk more broadly than just providing insurance coverage. The greatest challenge is that most of your clients don’t know anything about risk management; so how do you make them see the value?

Here are 3 how-to steps:

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Topics: insurance broker risk management, risk management tips, value of risk management, risk reduction approach

25 Quick Tips To Get Started With Your Risk Management Planning (Part 2/5)

Posted by Craig Rowe on Thu, Mar 10, 2011 @ 12:03 PM

This is the second installment of five blog posts that summarize the 25 quick tips from my eBook, Insurance Premiums Are Killing My Business. This risk management ebook is a great start for small to medium-sized business owners that are curious about starting the risk management planning process.

The tips below have been written with small to medium-sized businesses in mind, although the same principles should be employed by very large businesses.

Click here if you want to review risk management tips 1 – 5 before going on.

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Topics: ClearRisk, risk management ebook, risk management planning, risk management tips, insurance premiums are killing my business

25 Quick Tips To Get Started With Your Risk Management Planning (Part 1/5)

Posted by Craig Rowe on Wed, Jan 26, 2011 @ 11:01 AM

This is the first installment of five blog posts that summarize the 25 quick tips from my eBook, “Insurance Premiums Are Killing My Business." The risk management ebook is a great start for any small to medium-sized business owners that are curious about starting the risk management planning process.

The tips below have been written with small to medium-sized businesses in mind, although the same principles should be employed by very large businesses.

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Topics: ClearRisk, risk management ebook, risk management planning, risk management tips, insurance premiums are killing my business

Best of @ClearRisk – Our Risk Management Twitter Feed

Posted by Christopher Gardner on Mon, Aug 23, 2010 @ 10:08 AM

This is the first of a series of blog posts titled: Best of @ClearRisk – Our Risk Management Twitter Feed

Twitter is an amazing resource to stay current on what’s happening in the risk and insurance industry. Every day we sift through the mounds of new articles and websites to suggest things that many of you would find helpful or interesting ( in a 140 characters or less). For our readers who aren’t familiar with Twitter here is a brief explanation of how it works: http://twitter.com/about. and here is a link to ClearRisk’s Twitter feed where we publish information daily: http://twitter.com/clearrisk

We’ve been fortunate enough at ClearRisk to meet a lot of interesting people that we follow daily to keep up on what’s happening across the globe in the risk and insurance industry.

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Topics: best of clearrisk, risk management news, risk management twitter feed, risk management tips