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Risk Management

An Extension of Your Risk Management Team

Mitigate risk with a program that aligns with your business objectives and can potentially lower your yearly total cost of risk

Everything we do in life involves a little risk. When you own and operate a business, you open yourself up to different variations and levels of risk. If you want to insure your business properly, you need to integrate that risk into your overall strategy. That’s where Total Cost of Risk comes in (TCOR). At Dean & Draper, we believe the key to managing your TCOR requires a strong focused claims management and risk control program. As your business’s TCOR advocate, we'll help provide tactical, technical, and strategic advice as well as management tools, and coverage interpretation.

See how our TCOR management programs work below.

Your risk management blueprint

Discover how Dean & Draper empowers business with innovative risk solutions

By now you know we’re committed to providing clients with strategic
risk management strategies, superior value, and unparalleled customer support. But how do we do that? We talk with your team, use your data, and dig into your experience to uncover your risk tolerance and build the following strategies:

Risk Tolerance

We work with you to develop how much risk you want and can assume. A capable program and strong financials may lower your TCOR yearly. We’ll go over loss modeling strategies, risk mitigation strategies, non-insurance transfer strategies, and much more with you and your team.

Loss Modeling Strategies

Together, we use your data to look at past and potential future trends within your risk management program. This helps predict expected total claims for newer policies and how effective your risk management strategies are. We’ll collaborate on the necessary mitigation strategies and more.

 

Risk Mitigation Strategies

Risk mitigation focuses on the inevitability of some disaster and is used for those situations where a threat cannot be avoided entirely. In this process, we’ll help you develop strategies to mitigate those risks that are unavoidable.

Non-Insurance Transfer Strategies

Risk can transfer in many forms. With our team, we’ll go over the transfer of risk from one person or entity to another by way of something other than an insurance policy. These commonly include techniques like insurance provisions in contracts and indemnity language.

 

Retained Risk Strategies

Financing 100% of your risk usually isn’t the best method for a company. With these strategies, you may retain a certain amount of risk to lower your dependence on traditional insurance. Your financial strength, company size, and effectiveness of risk management strategies can affect deductible design, amount of insurance needed, and methods of insuring.

Insurer Leverage Strategies

The industry has trained insureds that the only way to get the best deal is to “shop” their coverage every year. Unfortunately, that method can be detrimental to building consistency and predictability in your program. We work with you to make sure you always have a strong underwriting story to tell and get the attention of carriers without burning bridges each year. When the time comes to go to market, your story will be one for the ages.

 

Learn More

Request your personalized risk management assessment!

Reach out to discuss how we can help identify your company's potential risks in order to help formulate the ideal business risk management plan for you.