Risk consulting is one of the key ways that we work with you to limit your company’s exposures and keep your insurance costs low. At PRL, we approach your total cost of risk as being the sum of your insurance premiums, self-insured losses or retentions, and the expenses needed to manage these programs.
By reviewing your current practices, analyzing historical patterns and offering insights gleaned from decades of industry experience, our risk consulting services can help make your work processes safer, more efficient and more cost effective.
The risk consulting services we provide include:
- Access to loss-prevention engineering
- Fleet safety audits and manuals
- Contractual risk transfer advice
- Retention analysis
- Analysis of historical losses
- Optimizing deductible levels versus premium savings
- Large retention programs
- Captive feasibility studies, implementation and ongoing management services
- Program audits
- Reviewing current insurance program for deficiencies
- Providing alternative program structures with the objective of maximizing coverage and minimizing cost
- Identifying other insurance products and alternative risk programs
- Advice on security requirements, letters of credit and surety bonds