At McClone Insurance Group we look at the Total Risk Management Process for our clients to help not only reduce their costs, but also to design the right plan for your company.
What is Total Risk Management?
- Loss Control – Identify the risks that pertain to each client and implementing lost control techniques to reduce the potential of the risk/perils from occurring
Examples of Loss Control are:
- Ergonomics training for Employees
- OSHA Compliance Review (Personal Protective Equipment, Forklift, etc.)
- Drivers Safety Program
- Product Liability exposure review
- Daily Deposits of cash
- Retention – Involves looking at the probable loss and frequency of loss to help you decide what to insure and what risks you will self insure, or retain. Retention also looks at what the employer will pay out of pocket if a claim occurs, i.e: deductible limits.
- Risk Transfer – Involves transferring the risk to another party so you don't have the risk and thereby do not need to insure this exposure. Examples of this are contracts with Hold Harmless and Indemnification clauses and Additional Insured wording with Waiver of Subrogation provisions.
- Insurance – After evaluating Risk from a Loss Control, Retention, and Risk Transfer approach, we can then select the appropriate insurance to place on your business.
