What does SRP do when it comes to Risk Management? Are you an insurance broker?
SRP has an insurance consulting partner that provides our clients with their experience in designing, purchasing and then managing insurance programs for our clients in a wide range of industries around the globe. They are not affiliated or associated with any commercial insurance broker and they do not sell commercial insurance. As independent insurance consultants, they receive no commissions or fees from insurance carriers, brokers or agents.
Because of this, they are free of any influence of pressure, enabling them to custom design the insurance and risk management program that will best suit your needs. Due to their independence, they provide timely, unbiased advice that helps clients make informed decisions about their risk management program. They cut through the confusion of insurance language and assist you in having a thorough understanding of your coverage's and how they relate to your specific exposures and the risks you face. Their services allow our clients to know that at any given moment in the insurance market cycle, they are paying the lowest possible premiums while enjoying the broadest terms and conditions of coverage available.
Why do I need an insurance consultant?
Would you buy a home or commercial building without having your attorney review the contract of sale? Would you go to an IRS audit without your accountant? Your company’s insurance program is a major acquisition and protects all the assets of the business. Yet it is often made with no oversight from an unbiased professional. Insurance agents work for and are typically paid by, the insurance carrier.
SRP's partner is compensated by, and works solely for you our client. Our only goal is obtain the most comprehensive insurance program available at the most competitive premium. Working tandem with our team of disaster planning professionals, we are able to implement our cutting edge technology disaster response systems in place which even further reduces your risk and exposure.
How much will this cost?
We cannot tell what an appropriate fee will be for their services without first analyzing your specific situation. Our SRP Partner will do this for free and provide a detailed proposal for services. The fee is based on a variety of factors such as the client’s industry, annual sales volume, total payroll, types and number of assets, total number of insurance policies under management, claims frequency & severity, etc.
Although they can’t make any promises, it is frequently the case that our management of our clients’ insurance program enables them to save considerably more money than the fee our clients have paid them.
How do I know what SRP's Partner is capable of doing?
SRP's Insurance Consulting Partner is a specialty practice group within UIC that has a niche within the following industries: Real Estate Owners/Managers/Developers, Construction, Manufacturing & Distribution, Retail, and Private Equity due diligence/portfolio company management. Currently, on behalf of our clients they manage just over $1 Billion of property and casualty insurance premiums; that gives them tremendous buying power which our clients benefit from. This also gives them access to special programs, direct writers, as well as pricing individual consumers cannot obtain on their own and or through their brokers.
Will your partner work with my current insurance broker?
Of course. Frequently, our clients have long-established relationships with their current brokers and we are instructed to leave those relationships intact. In those circumstances, they work very closely with the current broker with the aim of improving the terms and management of the insurance program. However, broker competition is often necessary to drive obtainment of the best pricing and terms for our clients.
After the insurance is purchased, can SRP and it's Insurance Consultant assist me in any other way?
There are many ways to transfer risk and an insurance policy is just one of them. We also manage the day to day risk management activities of our clients such as lease and vendor insurance agreement reviews, analyzing insurance premium invoices, loan covenant review, loss consulting, audit support, etc.
We become your risk management department so you can focus on what you do best; running your business. Schedule a free audit today and be pleasantly surprised as to the value we bring our clients, that is unmatched in the industry today. Call us at (888) 582-5848.