Commercial Risk Solutions

Commercial Risk Solutions (CRS)

Solutions for handling your commercial Property and Casualty insurance risk are unique, varied, and ever-changing. Exactly like the environment in which you operate your commercial business. CRS consultants specialize in providing cost-effective insurance and risk management solutions for Employment Practices Liability, Workers' Compensation, and Commercial Fleet. In addition, we work with numerous industry and franchise associations to develop group alternatives for covering property and casualty insurance exposures.

Regardless of the risk exposure you need to address, CRS consultants follow a very simple five step process for making your business more efficient:

  1. Assess your current insurance program and risk prevention techniques.
  2. Measure your insurance program and risk prevention techniques against current insurance industry benchmarks.
  3. Develop a proactive risk management plan which minimizes actual and perceived risk.
  4. Approach insurance underwriters with your risk management plan and obtain competitive alternatives to cover your risk.
  5. Secure the lowest net cost insurance program for covering your risk.

How does this five step process work in the real world?

  1. ASSESS. While looking at the claims history for a beverage distributor we noticed a number of claims related to their vehicle fleet. Over the prior three years there had been 22 accidents that accounted for almost 70% of total claims costs. We investigated these accidents and found they were caused by poor side visibility and lack of driver experience.
  2. MEASURE. We benchmarked their fleet insurance costs and loss prevention programs against industry best practice programs. The results of our evaluation showed that they were paying on average 35% more per vehicle for insurance costs, their claims costs were 55% higher than industry averages, and their fleet safety program lacked some key elements.
  3. DEVELOP. We worked with this client to enhance their program so that actual and perceived risk is minimized. This included increasing their property damage deductible to reduce frequency, helping them formalize their driver selection and training programs, and having them install better mirrors on their trucks to increase side visibility.
  4. APPROACH. As a result of implementing these changes there was a 35% decrease in accidents and a 75% decrease in claims costs even with a very large increase in fleet size!! We approached numerous insurance underwriters for this provided a detailed presentation on their ENHANCED risk management plan.
  5. SECURE. We were able to secure fleet insurance cost for this company with better coverage terms, and reduce their insurance costs per vehicle by 50%!!

If you have handled commercial property and casualty insurance in any capacity over the past five years you realize how volatile and unforgiving this protection can be in terms of cost and coverage availability. In 2006 we have been blessed with a 'soft' insurance market which has allowed most companies to reduce their costs and increase their coverages. However, insurance carriers are not reducing their costs to you in correlation with the reductions in costs they have experienced. It is our mission at CRS to secure better terms for you by reducing your actual and perceived risk in the insurance market! By taking control of your actual and perceived risk you will minimize your insurance cost for the long term regardless of insurance industry volatility!!

Why CRS? Because we live and breathe risk reduction! By reducing risk we help you achieve your business profitability goals, we improve the lives and welfare of your employees and their families, and we support our mutual economic success! For more information please contact us at info@crisksolutions.com.