Forest Financial Group Risk Management (FFGRM)
We provide a suite of services encompassing five general categories:
1. Risk Assessment
2. Risk Placement
3. Policy Services
4. Loss Control
5. Claims Management
In using this targeted approach, our objectives are to minimize your exposure to risk, and maximize the
effect on your bottom line.
Risk Assessment
Working with your team, we will assess your exposure to risk, both quantitative and qualitative, and offer you various methods of handling that risk. Our assessments take many forms, including:
• ongoing conversations;
• location inspections;
• policy and procedure reviews;
• operational flowcharts, and
• loss history review.
Using these tools, we will help identify the potential sources of loss your firm faces. This is not a one time event, as business evolves, exposures change and your risk management program needs to adapt to your changing operations.
Risk Placement
Our firm has direct contracts with 26 different insurance companies, covering the broadest base of national and regional carriers. Whether the insurance coverages are written to be primary or excess, FFGRM has the resources to offer you a solution to fit your needs.
Policy Services
Our FFGRM team has the experience and knowledge to oversee and monitor all aspects of your Risk Management Service Program. Our knowledge base includes, but is not limited to:
• Thorough knowledge and assessment of coverage forms and conditions;
• Complex billing and accounting detail (by entity, location, building, coverage etc.);
• Certificate of Insurance management (subcontracts, tenants, vendors, clients, lessors)
• Coordinating insurance company inspection reports with internal Loss Control, as needed;
• Program audit adjustments, and
• Contract review – subcontract, tenant, equipment lease.
We will act as the liaison between you and your insurance carrier, to ensure that all of your policyholder service needs, at all of your locations, are being met.
Loss Control
Our Loss Control Evaluations will assist you in identifying your physical plant strengths and deficiencies, and recommend corrective measures, improving your opportunity to make sound risk management decisions. Our experienced staff will tailor services, which include but are not limited to:
• Property Loss Control Services – basic evaluation (COPE), storage, surrounding premises. Reports outline the extent of risk from perils (i.e. fire, burglary, collapse, vandalism, wind, etc), and document the general condition of the building, tenant exposures, and other related conditions.
• Product Liability Loss Control Services – review of design, testing, certification of product/staff, QC procedures, packaging, labeling, vendor/supplier management, data management.
• General Liability Loss Control Services – includes life safety, storage, CCC issues.
• Automobile Loss Control Services – written policies/procedures, driver evaluation, vehicle maintenance/controls, cell phone use, use of personal/private passenger automobiles. Commercial fleet services include review of DOT compliance, hiring practices, maintenance of DOT files, commodities hauled, vehicle inspections, accident investigation, and DOT audits.
• Workers Compensation Loss Control Services – segmented into general versus construction, include written procedures and safety plans, return to work programs, OSHA compliance, ergonomic compliance, lockout/tag-out, fall protection, respiratory protection, hearing conservation, and job safety analysis.
These reports are instrumental in conveying to the insurance marketplace that your program is “best in class” and warrants their most aggressive pricing. Each report provides an independent Opinion of Risk to aid in selection and management of the property. Detailed recommendations are provided to outline needs improvement items.
Claims Management
Our Claims Management Department acts as an advocate for our clients, serving as your liaison to the carrier’s claims representatives. Our claims managers are responsible for monitoring and trouble shooting issues on large, complex claims. They also perform regular claim reviews, to validate and ensure reserve adequacy, and to ensure that the insurance carrier adjusters handle your claims properly. Claim reviews are conducted prior to the renewal process, or if the insured suffers a severe loss. We understand that the timing of this process is very important, because any reserve reductions made during the claim review process will have an impact on your experience rating and premium levels.
Contact us today to discuss your risk management needs.
