Insurance Program Framework
Insurance Advisory
Experience
Partnered with stakeholders to address gaps in existing program, set desired objectives, conduct current state assessment, and implement continuous improvement activities:
Program Review Activities:
- Evaluated the overall portfolio in alignment with industry best practices for organizations of like size, type, industry.
- Assessed related vendor contracts including placement broker, third party claims service providers, actuarial services, asset appraisals, etc.
- Conducted an assessment of values at risk and claims experience alongside retentions, limits, and co-insurance.
- Worked with program owner to develop plan to “right-size” program which may include increases / reductions in limits, retentions, coverage scope or structure.
- Assessed with legal counsel the opportunities for to pursue claims recovery for large and unique business losses. (Applicable to COVID-related losses)
Governance Partnership Engagement:
- Engaged with ERM program owner to assess risk transfer opportunities / considerations.
- Worked with program owner to develop:
- Claims reporting protocols and educational material to ensure swift / accurate reporting and no compromise of coverage.
- Unique reporting for Senior leadership and Board of Directors