Insurance Consultant Services Available from Licata Risk Advisors

Insurance Consultant Services

Insurance consultant services are provided by Licata Risk Advisors. As insurance consultants, we are not an insurance company, are not brokers and do not sell insurance. Licata Risk is not committed to any insurance company or product and does not receive commissions of any kind. We are only committed to you.

As an insurance consultant, there is no conflict of interest which exists when the insurance company who sells you product, also gives you advice. This is an important distinction.

Insurance consultant services include:

Insurance Assessments & Audits
Competitive Bids
Enterprise Risk Management
Ongoing Risk Management

Licata Risk works directly for CFOs and Chief Executives of mid-market companies. Our job is to help you fight back against the insurance industry. Having only your best interest in mind, we focus on managing your risk, allowing you to focus on running your business with confidence knowing that you are protected. We help our clients gain the competitive advantage they need in today’s unpredictable and litigious market.

We offer risk consultant services that will help you to Reduce Insurance Costs, Broaden Coverage, Protect Directors & Officers, Minimize Risk, Litigation, Liability & Loss and Increase Your Financial Valuation in the following areas:

Insurance consultant Boston
Insurance consultant Massachusetts
Insurance consultant New York City
Insurance consultant New Jersey
Insurance consultant Rhode Island
Insurance consultant Connecticut
Insurance consultant New Hampshire

Risk Happens

Risk occurs from the combination of changes in: your business, the market, the litigious business environment and a rise in the number of man-made and natural disasters. When added to the continuous changes that insurance companies make to your policies, often without your being aware, the risks have never been higher and they can have a significant impact on your business.

Financial Impact

When you work with Licata Risk, you can expect to:

Reduce cost of insurance (in most cases anywhere from 10% to even 50%)
Broaden insurance coverage where necessary
Avoid unnecessary insurance
Reduce exposure
Minimize risk
Reduce or eliminate unanticipated losses
Minimize the financial impact of losses
Obtain proper business valuation — (risk adjusted financials showing reduced premium & added protection)
Demonstrate ROI

Why Most Mid-Market Companies Are Exposed

Caveat Emptor — Let the Buyer Beware! This has never been more true than with the insurance industry today. Insurance companies use legal departments to write policies that favor them, not you. They are also making continuous changes to the language within the conditions, exclusions and limitations. These are seldom reviewed with you in advance or even discovered when the policy renews. When loss happens, companies can contact their insurance provider only to discover that they are NOT covered. Then it’s too late.

The state of the insurance industry is in flux. Over the last few years, there has been story after story about mid-market companies having been taken advantage of by their insurance providers. Insurance brokers have branded themselves as “advisors” and “managers” of risk. The reality is that brokers are salespeople having various compensation arrangements with their insurance company partners. This conflict of interest has been determined by the Attorneys General of both New York and Massachusetts to be a “misrepresentation” and it leaves mid-market companies vulnerable. The problem is that corporate executives are often too busy to stay on top of all of the changes in laws, exposures and insurance conditions that impact their business. They end up taking advice from the same company that sells them their insurance products, and that can result in serious problems at the time of a loss.

Most large corporations have a full time risk manager on staff. For mid-market companies, however, the burden and liability often fall on the shoulders of the senior executives including the CFO or CEO. What this means is that there may be no stability or continuity in the risk management process. Further, with the added responsibilities placed on a CFO, there simply is not enough time to perform comprehensive audits of insurance policies & providers. It is almost impossible to continuously stay on top of it all. Most companies rely on their brokers for advice, but taking this path is dangerous and puts most mid-market companies at high risk.

The best strategy is to unbundle your advice from the sales process. Until a comprehensive risk audit is performed by an advisor who is independent of the same insurance company that sells you products, there is no way to truly know where all the exposures lie in waiting.

CFO Liability & Corporate Protection

When loss happens, it can have a devastating effect on you and your business. The best protection comes from an experienced insurance consultant who works directly for you, on your side, with your best interest in mind and represents you in your negotiations and dealings with the insurance industry on an ongoing basis. By using an insurance consultant, you will have more time to focus on what you do best, running and growing your business, while we focus on what we do best, protecting it and protecting you.

Risk-Adjusted Financials, Valuation

Risk impacts your bottom line: assets & liabilities, income statements & balance sheets can all be affected by risk. If an asset is wiped out by a natural or man-made disaster, or if you don’t have enough property coverage, or if your company’s product had an illegal chemical used in the production process offshore, or if you are paying too much on your premiums, how does this affect your financial statements? Make sure your financials are protected and adjusted for risk.

Contact us about a risk assessment for your business and let Licata Risk help you know for sure that you are protected.

Brent Trethewey, Director of Business Development

617.312.7289

[email protected]

Frank Licata, President

617-718-5901

[email protected]