RISK MANAGEMENT - The Million Dollar Issues LOSS PREVENTION - LOSS CONTROL - LOSS AVOIDANCE LICENSED INSURANCE COUNSELORS
RISK MANAGEMENT - The Million-Dollar Issues 1. Risk Management Review
The MAPLIC consultant begins with a thorough review of the exposures, or hazards, facing your organization. This usually entails a detailed risk management survey to identify the exposures. The survey may include a quantitative measurement of the frequency and severity of losses, both the maximum possible loss and the probable maximum loss. The consultant analyzes the better methods of meeting the needs uncovered by the survey form risk control to risk finance, aids in implementing the program, and helps to monitor the results. 2. Review of Ancillary Contracts
The MAPLIC counselor provides a review, form the insurance point of view, of miscellaneous contracts, hold harmless agreements, insurance requirements, and other miscellaneous items. Often these areas can be major sources of exposure. 3. Setting Specifications
Bid specifications, prepared as needed, are written by insurance counselors to help assure that necessary coverage is provided economically. 4. Coordination Between Agents
Choosing between agents who may be your friends, may be difficult and may not serve your best interest. Your counselor will coordinate between client, agency and insurance company on such items as claim handling, loss control and other service requirements. 5. Analysis of Other Programs
Your counselor will analyze special programs offered by brokerage firms, specialty houses, captives, direct-writing insurance companies and others. 6. Claims Assistance
If questions or disputes arise during the claim settlement process, your counselor can offer a source of reliable information or which to base decisions concerning possible alternatives, and help bring the matter to a satisfactory conclusion. 7. Cost Containment
Your MAPLIC counselor can assist in the effective cash management of often-significant insurance costs. 8. Expert Witness and Speakers Bureau
The MAPLIC Association offers, by region, a list of licensed experienced counselors that are available to speak to your organization as expert witnesses. <Return to Top>
LOSS PREVENTION - LOSS CONTROL - LOSS AVOIDANCE 1 IDENTIFY
potential hazards and risks 2 EVALUATE
these areas of risk 3 AVOID
needless and flagrant hazards
by eliminating or shifting 4 REDUCE
certain risks through loss prevention
and control programs 5 ASSUME
a measurable amount of your risk,
depending on financial factors 6 TRANSFER
remaining risk through commercial
insurance programs or to others.
Negotiate terms for best coverage. |
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Licensed Insurance Counselors 1 Objectivity
MAPLIC counselors have no vested interest other than that which exists between client and counselor. They have no special product to sell-only service. 2 Keeping Pace with Rapid Change
MAPLIC counselors are kept updated about current legislation, regulations, insurance companies and other trends of the insurance industry. 3 Confidential Business Advisor
MAPLIC counselors will advise you on your exposure to risk, and will maintain complete confidentiality 4 In Association To Serve You Better
The Michigan Association of Property and Liability Insurance Counselors was formed in order to pool our knowledge, debate important issues and challenges, and to serve you better. <Return to Top> | 
