Risk Manager, Bar-S Foods, Co. Phoenix, AZ. Sandy is an active member of the Central Arizona Chapter of RIMS and has held several Board positions. She has been practicing in the risk management discipline for 8 years, and prior to that as a Liability claims supervisor and adjuster for a number of large carriers.
Sarah has been in the risk management industry for fifteen years. She started in the RMIS industry and moved to the brokerage side in 2004.
Understand what the Risk Management Discipline is about
Understand what the Risk Management Discipline is about
Understand at least 5 strategies to help launch your Risk Management program
Be able to develop a network of professionals that will help you and help to make your program successful
How to develop an overall strategy to address areas of risk in your organization.
How to develop an overall strategy to address areas of risk in your organization.
Develop a listing of partners you can engage when you begin to develop and implement your risk management strategy.
Understand what Risk Management is and what it is not:
Understand what Risk Management is and what it is not:
It is: Relationship driven, highly varied, extends to every department in the organization, communicates laterally and vertically; depending on the size of the business, there may be one or more staff in the risk management department, it’s vendor management, its effective utilization of financial resources, its loss prevention and loss control, and more.
It is not: All about insurance, insurance purchasing and claims management – although that is a large part of it.
Leave preconceptions at the door
Leave preconceptions at the door
Get in the habit of asking questions
Teach/coach/educate Safety at work, and at home
Read and understand your insurance policies – Gaps anyone?
Get to know operators of your company
Do the Math…financial component of the job
Determine if you are working with a Traditional Risk Management Program or an Enterprise/Strategic Risk Management Program
Develop a Network of Resources – Seek out the Experts
Build your team
Have some FUN
Insurance broker TEAM - why do we need these people?
Insurance broker TEAM - why do we need these people?
Selection of the right one – key for a new risk professional
Leverage current situation
Brokerage team considerations – what do we need from these people?
Coverage – understanding your exposures
Market relationships and effective strategy planning
Loss prevention - control / Risk management resources
Claims resources and effective claim management
Team dynamic – why is this important?
What do we rely on our broker to do?
What do we rely on our broker to do?
Place coverage… there is so much more
Make you shine within your organization
Ensure your exposures are covered and those that are not, you are aware of
Analyze your loss history and provide recommendations to you and the loss control team to implement solutions
Review contractual language as it relates to insurance
Keep you apprised of market and coverage trends
What else do we rely on our broker to do?
What else do we rely on our broker to do?
Be your advocate! How is this done?
Claims
Insurance Company
Be an extension of you – risk management consulting
Identify, Establish and use your Network of Resources
Implement your program, Monitor it, Adjust it when needed, and re-implement.
Teach Safety 24/7
How do you identify and build a network of Resources?
How do you identify and build a network of Resources?
Get involved in professional organizations like as well as industry associations to help you identify exposures and find resources to treat your exposures
Insurance Broker Team
Underwriting relationships *Direct *Wholesale
Consultants: Engineering, Loss Control, Technology, etc.
