Durrett & David Risk Management Consultants have the expertise and experience necessary to perform projects ranging from a comprehensive business risk analysis to the competitive marketing of insurance programs.
Business Risk Analysis or Audit – A comprehensive process to identify and evaluate our client’s exposure to risk or loss in various areas and determination of ways to minimize and effectively manage that risk.
Competitive Marketing of Insurance Programs – Prepare insurance specifications, negotiate coverages and assist in the completion of an orderly and effective bidding process to obtain the best terms, conditions and costs for our clients.
Insurance Program Design & Management – Design of insurance coverage specifications and development of underwriting data.
Exposure assessments, risk retention analysis, captive and self-insurance feasibility studies, analysis of limits, insurance contract reviews, claims auditing, broker assessments, and risk management organizational studies.
Insurance Policy Analysis and Interpretation – What’s covered, what’s not and is the coverage worth buying. Review all insurance policies to analyze the existing coverage, program structure, and cost effectiveness, in order to help maintain and develop appropriate coverage terms and specifications.
Loss Prevention – Contract review and assistance with negotiating appropriate contract terminology with respect to risk allocation among contracted parties and with respect to coverage requirements; risk control engineering oversight.
Claims Management – Reviews, audits and oversight; claims must be managed effectively to control costs in current and future insurance programs.
Broker Selection, Broker Services Review and Fee Negotiation – Design coverage and program specifications and manage broker proposals process.
Assistance with the development of service agreements which define the services to be received from insurance brokers and underwriters.
Negotiation of fees associated with the services to be received from insurance agents and brokers and other vendors.