Insurance Risk Review
Do you look at your insurance placement with the same strategic eye as you do your business?
Does it reflect the current risk profile and risk appetite of your business?
Typically insurance is viewed/treated as a substitute for a repairs & maintenance programme or risk reduction.
Capital allocation is a critical concept for all businesses and is the link between risk and return.
Ideally Insurance should be seen as a source of Capital that becomes available if some event occurs and not only used as a strategy to change risk profiles, but to assist in a sound capitalallocation process critical to business development and shareholder value.
Every year new challenges present themselves and business adapts to maintain or enhance returns on capital. These challenges can be from legislative conditions, external/internal stakeholders, suppliers and customers or even new strategic directions your business is undertaking. This can change your Risk Profile.
In our experience, in the SME space, this is not always done, rendering the purchase of insurance process to just a cost saving exercise, rather than aligning risk appetite to capital, ensuring business continuity.
With our extensive experience we can create alignment, impact governance and ensure you get the best price for the risk that you decide to transfer by way of insurance.
As of 2017, we are now a member broker of PSC Connect. PSC Connect is an integral part of the PSC Insurance Group : one of the largest privately owned insurance brokers in Australia with operators in the UK, Hong Kong and New Zealand. PSC Connect enjoys a stable, ethical and professional reputation within the insurance industry and through that relationship allows us to negotiate favourable trading terms for our clients. Our extensive business associations allow us to access national and international markets should they be required.
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