LicataRisk Advisors is a risk management consulting and insurance advisory firm
That means that we become your advocate, your advisor, a member of your team – and together we accomplish the following:
The first thing we’ll do is learn about your organization, its assets, operations, finances and exposures to loss. We work with you to quantify loss, so we can focus on the severe loss potential, and not simply trade dollars with insurance companies.
Next, we’ll work with you to identify areas where losses can be prevented and help you develop safety, security and other loss prevention programs. We will use accepted loss control principles including those provided by OSHA, RIMS (the Risk and Insurance Management Society), the National Safety Council, the American National Standards Institute and others. We will recommend outside specialists where needed.
Unfortunately no matter how diligent you are, some risk is unavoidable, but you don’t always have to face it alone. Sometimes you can transfer risk to your trading partners, including customers, joint venture partners, subcontractors and others. We’ll work with you to identify the likely candidates and structure a program where they indemnify you in the event of loss, thereby saving you money. Being street smart risk-wise means never being the passive one in a contract negotiation, that is, just signing the other party’s form.
Finance Loss/Negotiate Insurance
We’ll design an insurance program that addresses your risks, but excludes unnecessary coverages that inflate your premiums. We’ll prepare all the specifications for distribution to brokers and insurers, review and negotiate incoming proposals and help you select the one that’s best for you. Then we’ll review policies when they are issued to make sure they comply with the proposed terms and conditions. Because we are independent of the insurance industry, we’ll even advise you when it is beneficial to consider self-insurance, captives or non-insurance solutions.
If you have an insurance program, but you’re not sure if it protects you properly, we will review the program and advise on gaps in coverage, with recommendations on fixing them. We will work with your providers to make sure it actually and truly gets done.
In addition to those services outlined above, we offer the following:
- Evaluation of insurance agent or broker services
- Insurance claim negotiation
- Claim audits
- Insurance program monitoring and management
- Ongoing risk management consultation
- Expert testimony on insurance matters