Under a typical client engagement, to start we'll perform an in-depth interview to ascertain risk tolerance levels, as well as a study of your organization to review the scope of your risk and exposures. We can probably meet any special requirement you may have, yet our normal procedure includes these steps: Confer with your management team to learn about your organization's current risk management philosophy, your tolerance for uncertainty, internal reporting relationships, claim and loss history and your relationships with insurance carriers and other service providers.

Our assistance can range from helping you gain a better understanding of basic insurance coverages to addressing security issues regarding Gramm Leach Bliley and HIPAA. We can help you develop your disaster plan and provide electronic security guidance.  We can be retained to provide ongoing program management and monitoring. Monitoring includes working with loss control experts to establish safety objectives and risk control schedules as well as interacting with new exposure or claim developments to fully address customer needs and expectations while providing ongoing guidance and technical support.

Typical Client Assignments

• Risk Tolerance Identification 

• Risk Mapping

• Insurance Program Review

• Insurance Specification and Design

• Policy Contract and Coverage Analysis

• Coverage Deficiency Remediation

• Claims Review and Analysis Studies

• Insurance Renewal Process Assistance

• Benchmarking against Industry Results

• Premium Calculation - Classification Analysis & Audit

• Risk Profile Preparation

• Loss impact and Volatility Analysis

• Insurance Agent and Insurer Selection

• Assistance with Contract Negotiations

• Negotiate in your behalf  with Insurers

• Disaster and Emergency Planning Assistance

• Safety and Loss Control Effectiveness Studies

• Development of Custom Policy and Procedure Manuals

• Electronic Risk and Security Review Assistance

• Risk Management Program Monitoring and Reporting

Following execution of our consulting agreement we generally get started with a detailed on-site review directed at identifying, surveying and analyzing exposures to loss or liability as well as a review of your claims experience. We review your property/casualty insurance program for validity and correctness of all provisions of importance to risk planning. We measure current risk management methods and results against the exposures identified in our on-site surveys and we examine insurance expenditures and claim results to verify cost effectiveness. We often team up with with your banker or lender, financial planner, attorney and your accountant to complete the analysis of your exposures to risk.  Following our on-site reviews we will prepare an Executive Assessment of our findings including comments and recommendations for improvement in your program.   Finally we can provide ongoing counsel on all risk management and insurance related matters throughout the term of our engagement.

 
Our consulting process can entail areas such as: analysis of the coverage desired by the client; claims analysis including reserve evaluation; current program structure and rate analysis; experience modifier review, premium audit review,  insurer service delivery; contract review and financial feasibility.

After a client signs off on the engagement methodology, we can assist with program specification design and we can also negotiate with insurers and perform the necessary steps required to remediate coverage gaps or deficiencies as approved by the client. If you have not accepted competitive proposals for your organization’s property and casualty insurance program in the last three years, you may be missing out on an opportunity to make significant improvements in coverage, cost or both.  We can gather together all of the necessary underwriting data and develop technically correct bid specifications and guide the process from beginning to end. Whether you wish to use your current agent or broker, or invite competition from several, it is essential for everyone to receive the same information and for the process to be controlled to ensure fairness to all.
 

When the proposals are presented, we give you an "apples to apples" comparison in a spreadsheet format along with our recommendation as to the best combination of coverage and cost.  After you receive the "original" policies, we will review them to be insure that they match the terms proposed and we will note any inconsistencies.  Having the guidance and counsel of Northington Consulting throughout this process can not only offer the possibility of improvements in coverage and/or cost, but also save you hours of time, effort and frustration.

Client Approach | Expertise | Program Management

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