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Enterprise Risk Management
Enterprise Risk Management Cost Reduction Strategies
Property
- Identify Hazards and Capability to Reduce
- Structure Layered Program/Large Deductible Approach
- Loss Sensitive Program
- Functional Replacement Cost
- Self-Insured Retentions
Workers’ Compensation
- Review Experience Modifier
- Review Class Codes
- Evaluate Use of Standard Premium, Retro/Payroll Basis
- Sell Larger Claims to Carrier/Close or Reduce Reserves
- Discuss Large Deductible Programs
- Discuss Retros and Retentions
- Discuss Other Insurance Programs (Pools, etc.)
- Review Safety/Loss Control Program
Casualty
- Discuss Higher Deductibles
- Review and Discuss Payroll vs. Sales Rating Basis
- Discuss Loss Sensitive Programs
- Discuss Composite Rating
- Excess and Surplus Lines Alternative
- Direct Placement of Reinsurance
- Design a Layered Umbrella Program
- Structure Umbrella with Higher Underlying Limits
- Alternative Risk Transfer- Captives, etc.
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