Risk management, particularly loss control, begins at the top of any organization. If the head of company makes it a point to emphasize safety, compliance, and lawful and ethical behavior, the rest of the organization is more likely to follow suit.
At Sincero we take a very different approach to insurance placement. Before we consider which insurers and policies are appropriate for a business, we first address the elements of risk on which those policies will be predicated.
Total Cost of Risk is not the same as the aggregate of a company’s insurance premiums.
Reducing the number and size of losses—may impact both the availability and affordability of insurance. A business that is indifferent to loss control may have a higher than average number of insurance claims. A really poor loss history can make it difficult to find insurance. Conversely, businesses that actively manage risks, and thereby control losses, will have fewer claims and will often see those efforts rewarded with lower insurance premiums.