Our Services
We act as your "out sourced " risk manager and become part of your management team. We will take the burden of managing the company's insurance and risk management program off your hands so you can concentrate on running your business. We will work with your existing insurance brokers or recommend a new broker, orchestrate and set renewal strategy, negotiate with brokers, review and analyze quotes and proposals and do a complete review of all your insurance policies to ensure they are as broad as possible.
You receive assurance that your risk management program is up to current standards and benchmarks and that best practices are being followed. We will review your risk management process & procedures, your insurance policies, claims and key business contracts. We will produce a comprehensive audit report for Senior Management and work with your broker in implementation of our recommendations.
Construction Projects present challenging risks and an independent risk management advisor is needed to nagivate the minefield of risks. BMK works with property owners and developers to insulate them from liability as much as possible and pass liability downstream. We will draft insurance provisions and requirements for Contractors working on the project, and implement Builders Risk and Owner liability coverages. We also have expertise in overseeing Controlled Insurance Programs, OCIP or CCIP.
M & A DUE DILIGENCE
If your company expects to acquire (or be acquired by) another company, it is critical to conduct a review of insurance and perform a risk management assessment for the buyer and seller early in the process. The true cost of a transaction may be much higher than anticpated if liabilities emerge post-sale that are not covered by adequate insurance.
To guard against the risk of inadvertently acquiring uninsured liabilities, the due diligence process must include a focused assessment of the seller's liabilitiy exposures and insurance coverage.
RENEWAL ASSISTANCE & RFP'S
We can provide asistance with the renewal process to ensure you are getting the best deal possible. We can spearhead and coordinate the renewal process including implementing a Broker Request For Proposal ("RFP").
We will recommend brokerage partners if needed, work with you on a renewal strategy, develop customized insurance specifications, analyze and review all renewal propoals and quotes and provide recommendations.
We will assist and represent you in dealing with various claim personnel from brokers, insurers, and third party administrators. We will drive to close claims, lower reserves and analyze historical claims for the purposes of reducing future loss.
BMK Risk Management will provide claim oversight in order to reduce costs and move claims to closure in a consistent manner, as well as to provide technical expertise and personal service. We will review your entire insurance program and make sure there isn't other coverage available that is not being utlized.