RISK IDENTIFICATION AND ASSESSMENT

Risk identification and assessment is an auditing process.  It begins with an interview and review of substantial documents.  The process includes information used to evaluate the quality of your insurance program. It also addresses uninsurable exposures and non-traditional insurable risks.
 
An example of an uninsurable risk is customer retention through a period of business closure.  A leading cause of business closure following significant losses (relative to assets) is loss of customer base or market share.  We have included information about business failure under the DISASTER STUDIES section.
 
Risk assessment is designed to identify:
 
Where are you at risk?
   
What risks have you overlooked?
   
How do you reduce risk?
   
How do you evaluate potential loss?
   
What portion of your risk can you retain?
   
Do you have uninsurable risk?
   
How do you manage uninsurable risk?
   
How do you present information to the insurance industry to skew pricing in your favor?
   
How do you design an insurance program to  (1) obtain coverage you need, and (2) afford the premium?

 

CONTACT INFORMATION:
     
James R. Mahurin, CPCU, ARM Phone: (615)790-0083
207 Third Avenue North Email: jimmahurin@aol.com
Franklin, TN 37064 Website: www.risk-guide.com