ICA’s Enterprise Risk Management Services

ERM is a strategic business discipline that supports the achievement of an organization’s objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated risk portfolio.

How it works:

-ERM evaluates the risk portfolio in the context of all significant internal and external environments, systems, circumstances and stakeholders, and recognizes that individual risks across the organization are interrelated and can create a combined exposure that differs from the sum of the individual risks.

-ERM then provides a structured process for the management of all risks, whether those risks are primarily quantitative or qualitative in nature

-ERM seeks to embed risk management as a component in all critical decisions throughout the organization

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Client Testimonials:

“We rely on ICA’s advice with respect to the placement of insurance policies and the transfer of risk to third party service providers. ICA has been instrumental in guiding us through both soft and hard insurance markets”.

“ICA’s services are unique; they’re not selling insurance, they’re protecting their clients and verifying the proper coverage for every possible scenario”.

“We value ICA’s diligence and persistence to ensure that we have the best insurance coverage with the lowest possible premium. Through ICA’s oversight, our risk management program gives us a competitive advantage over other real estate firms. ICA is a step above the rest”.

“I could not have possibly spent the time to review, nor would I have the background to identify the ramifications of the differences between the types of policies. That is why we bring in the experts like ICA to take the burden from us and to assure the answers are clear, correct and comprehensive”.

“ICA partners with our in-house professional staff by offering unbiased insight into the insurance industry, which we could never obtain from a broker. We had reached the determination that ICA is as necessary and valuable as our accounting firm and our legal counsel and we invite them to provide insight into every big risk management decision we make”.

“ICA audited our existing insurance policies, found significant insurance coverage “gaps” and then marketed our renewals and managed to cut our premium, while drastically expanding the coverage provided by the policies”.

Where does an Independent Risk Management Consultant fit into your Risk Management Program?

You may only be aware of two providers of insurance, but there is a third provider, the Independent Risk Management Consultant, that makes all the difference.

The Insurance Carrier – the entity that issues the insurance policy and/or services to the insurance buyer.

2. The Insurance Broker – A person or a firm that sells insurance to the insurance buyer by bringing together the buyer and the insurance company.

3. The Independent Risk Management Consultant – a person or a firm that does not sell insurance and works only on the Client’s behalf for a fee to identify their risks and then facilitates the broadest insurance coverage at the best price from the insurance marketplace at large.

ICA Risk Management Consultants

If your company is seeking a purely objective view on the risks that face your organization, from an unbiased risk management perspective, then having an independent risk management consultant on your team, who never receives compensation from the insurance industry or works on a contingency basis, is the advocate that you are seeking.

Expertise is always valued and possibly more so in the current hard insurance marketplace, whereby the return on investment is all about maximizing the coverages purchased and minimizing the costs of your insurance program.

ICA offers specific service platforms and deliverables to achieve the above results on the Client’s behalf including, but not limited to, the following:

Insurance Program Competitive Marketing to create the optimal risk management and insurance program.

2. Audit of the Client’s exposures to determine if the appropriate insurance has been purchased as well as evaluating the Client’s cost of the same coverage.

3. Claims Advocacy in the event of losses.

4. Contract Review for ongoing Risk Identification and Risk Transfer.

ICA supports your organization as your “out-sourced” professional resource to guide you through risk transfer and risk financing processes, so that your “total cost of risk” will be best managed.