RISK AND INSURANCE ADVISORY
INTECH provides expert risk management advisory services to a wide range of companies and industries, covering all classes of risk.
Our success lies in our ability to uncover potential risk exposures and advise our clients on the most cost-effective and appropriate course of action to support the organization’s overall business strategy.
As our clients’ outsourced risk management department, and in many cases, as the main advisor on independent projects, INTECH has a fulsome view of the client’s insurance program and ensures our clients are appropriately insured and their risks mitigated, wherever possible.
Benefits of Outsourced Risk Management:
Expert management on insurance matters.
Bridge the gap between the insurance buyer and broker.
Get the best-in-class coverage and pricing.
Quick response to non-compliance issues.
Adapt to changes in the insurance market.
Mitigate the risk of uninsured losses.
Manage transactions quickly and efficiently.
Focus on your core business objectives.
Focus Areas
Insurance Program Reviews
In-depth reviews of client’s insurance policies to confirm coverage aligns with industry standards, there are no gaps in coverage and make recommendations for enhancements.
RFP for Broker Services
Act as advisors when drafting and issuing RFP documents to proponents, establishing evaluation criteria, reviewing written responses and providing a high-level analysis of responses to our client. Coordinate interviews with proponents to further discuss proposal contents and assist with the transition to the successful proponent.
Risk Management Strategy
Closely work with the client to develop and implement risk management protocols, including but not limited to claims reporting procedures, and domestic water emergency response plans (“DWERP”).
Presentations
and Training
Participation in presentations on various topics including the presentation of renewal terms to risk committees and recommendations for policy enhancements to board members.
Compliance Reviews
Review insurance program to the insurance provisions of any agreement in place (E.g. Lease Agreements, Credit Agreements, Construction Services Contracts) to confirm insurance is compliant.
Contract Reviews
Review contracts to confirm the insurance provisions align with industry standards and protect the interest of our client.
Third-Party
Insured Tracking
Insurance certificate tracking for properties insured by a business partner, ensuring accurate representation on the insurance policies as Additional Named Insured, Mortgagee, etc.
Independent Studies
Obtain independent quotes from risk engineers to conduct Probable Maximum Loss (PML) / Maximum Foreseeable Loss (MFL) studies at the insured locations.
Renewal Negotiations
Gather underwriting material for upcoming renewals, negotiate with the broker for the best terms and pricing and provide recommendations for binding. Participation in renewal strategy meetings, presentations of terms as well as regular touchpoints with underwriters.
Construction Insurance Procurement
Provide recommendations for insurance brokerages that are best suited to the client’s project. Work alongside the broker to obtain the underwriting information from the client and make a recommendation for coverage.
Draft CCDC Requirements
Draft insurance requirements for material construction agreements, confirming the insurance provisions are in line with industry standards and protect our client’s best interests.
Retainer Services
Continuous risk management support and guidance, overseeing insurance program and prioritizing the best interests of the client. Clients benefit a team with 50+ years of combined experience and valuable connects INTECH have built in the insurance industry.
