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Frequently Asked Questions

Q:

What is the typical progression of events when hiring RISC?

 

A:

First, a no-obligation initial meeting to discern the need for our services.

Second, development of a specific proposal detailing the mutually agreed-upon objectives that will be accomplished.

Third, a contract is drawn up which outlines responsibilities of both parties to the contract.

Fourth, existing insurance and risk management program information is taken by RISC for purposes of analysis.

Fifth, a preliminary report of findings is completed by RISC.

Additional steps are determined based on the project scope, such as development of a bid template to test the insurance marketplace for coverages and pricing.

 

Q:

What is your experience?

A:

We have over 30 years of experience in risk management and in the property & casualty insurance industry, including hands-on experience in the areas of claims adjusting, business insurance underwriting, personal insurance underwriting, product marketing, rate-making, personnel management and territorial management.

 

Q:

How many businesses do what you do?

 

A:

To the best of our knowledge, there are approximately 250 risk management consulting firms across the entire USA.

 

Q:

Can I keep my current insurance agent if RISC is hired?

 

A:

Absolutely, yes! We will provide an independent analysis of your existing program and can work with your current agent to make improvements to your program, if that is your desire. In fact, existing agents should welcome our review of the program they put together if they have done a good job.

 

Q:

Do you use sub-contractors?

 

A:

Yes. For instance, if the expertise required exceeds our comfort level (i.e. identifying specific OSHA rules and regulations), we will make use of qualified sub-contractors. The work that they produce remains the responsibility of RISC and we are fully accountable for their resulting work product.

 

Q:

Do you have references that we can contact concerning your work quality?

A:

Certainly. We maintain a list of clients that can be contacted who will discuss how we have helped with their insurance and risk management programs.

 

Q:

My current agent says that there is no need to hire you to review the "superb" program that they helped put in place. Should we take their advice?

A:

No. Does it surprise you that your agent or broker would not want RISC to review their work? In essence, our approach amounts to an insurance agent "performance appraisal." If insurance agents have done a good job, we tell you so. If we find mistakes or oversights in our review, pointing these out to you could actually benefit your existing agent. While our singular focus is to protect our clients, a side benefit is protection of an agent's errors and omissions insurance policy.

 

Q:

Do you carry your own professional liability policy?

A:

Yes. We have a high limits policy with an "A rated" domestic insurance carrier that protects us from any error or omission on the part of RISC .

 

Q:

What geographical territory do you work in?

A:

We work in all 50 States, the District of Columbia, and address risk exposures in foreign countries, as well.

 

Q:

Are your fees tax-deductible?

A:

For businesses, yes. Our services are 100% tax-deductible as a legitimate business expense. For individuals, please consult with your tax advisor. Our services must exceed "miscellaneous deduction" thresholds on personal tax returns.

 

Q:

What is your business focus - coverage or price?

A:

Our focus is on VALUE. We promote the best possible value for your insurance and risk management dollar. Depending on your needs, it may not be wise to have a limited coverage policy at a low price. In other situations, this may make perfect sense. We help cut through insurance jargon to provide the coverages that you need at the best available price.

 

Q:

What sets you apart from insurance agents?

A:

Refer to the "About Us" page. In addition, the background and expertise of president, Kevin Glaser, sets RISC apart from typical insurance agents. Mr. Glaser has worked for both regional and national insurance companies and has earned several prestigious insurance designations. He has also taught as a Faculty Member for the National Alliance For Insurance Education & Research organization, a preeminent insurance continuing education and training organization, for more than a decade.