Organizations have put their trust in ICA for over 60 years because ICA services only the insurance buyer.

Questions that You should be asking to prepare yourself and your organization from a risk management perspective under these unprecedented times:

1 Under your Property policy (for business interruption purposes), should I now be filing a claim and what coverage may be available?

2. Under various other insurance policies in place (such as General Liability, Workers Compensation, Directors and Officers Liability, Pollution Liability), what is my exposure and is there coverage provided

3. From a Cashflow standpoint, will I have latitude with my Insurers to amend my insurance rating exposures such as; Property values, estimated annual Payrolls or Revenues?

4. What internal controls and protocols to manage my risk should I now deploy to not only comply with the CDC standards, but additionally to enhance my claim mitigation strategy?

5. Are there means to defer or postpone my Premium payments to my Insurer?

6. In the current insurance market, can I endorse my policy to expand coverage or can I purchase new insurance coverage now to address these pandemic exposures and losses?

7. Given numerous jurisdictional mandates at the State level involving limited access to premises or otherwise forcing facility closures, from an insurance standpoint, is this pandemic deemed to be a singular occurrence or multiple occurrences by location?

8. At the Federal level (and following the lead after “9/11” with an insurance recovery back-stop), can we reasonably expect government intervention in the future to otherwise motivate the insurance carriers to honor claims?

Client Testimonials:

COVID-19 Hotline: (201) 684-8294

Why do Clients choose ICA as their Risk Management consultants?

  1. Because ICA serves ONLY the insurance buyer – ICA’s Client – and is compensated by the insurance buyer ONLY for their time. ICA is NOT an agent or broker and does NOT sell insurance. This unique positioning allows ICA to be objective and stay completely independent from the insurance industry. Therefore, ICA is never faced with a conflict of interest when advocating on the Client’s behalf.

2. ICA’s six decades of experience gives ICA a competitive advantage by providing Clients with methodologies for effectively identifying and transferring risk that outperforms traditional marketplace methods. By providing an outsourced risk management department to the Client, ICA prepares the Client for the many insurance and risk management complexities the Clients’ face.

3. ICA’s service model is designed to educate and train the Client and their staff to best manage their risk management needs. ICA’s experience and expertise provides the Clients significant resources, which includes proprietary and appropriate language for Clients’ insurance policies, when the Clients approach the insurance marketplace for achieving optimal results during the risk transfer process.

If your company pays more than $100,000 in annual insurance premiums, then you would be wise to have an Independent Risk Management Consultant on your team, who never works on a contingency basis nor receives commission from the Insurer.  If you are paying that much or more in insurance premiums, the fee paid to an Independent Risk Management Consultant is money well spent.

Clients with ICA as their advocate realize the value of ICA’s professional expertise, especially now in the current “hard” insurance marketplace.  Such a value proposition is effectively delivered through ICA’s unbiased risk management expertise, thereby optimizing leverage in today’s market to maximize coverage and minimize price of the Client’s ultimate insurance program placements.

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

  1. Insurance Program Competitive Marketing

2. Policy Audits for the optimization of insurance coverage, while eliminating potential coverage “gaps”.

3. Claims Advocacy in the event of losses.

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

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

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