Advisory & Management Services

Advisory Client List   Broker/Risk Service Provider Bids   Contract Evaluation   Contractor Controls   Corporate Governance   Corporate Policy & Strategy   Crisis Management   Expert Witness   Incident Reporting   Insurance Reviews   M & A Due Diligence   Risk & Insurance Management   Risk Transfer Process   Workers Compensation Audits

Advisory & Management Services

Our advisory services are unique. We can advise how best to handle the risk and insurance process internally; through what specialist risk services should be out-sourced; to handling the insurance tender process between competing insurance brokers; or management and preparation of large technical insurance claims.

In an advisory or management basis our role can embrace singularly, or in combination, the following risk and insurance tasks:

Advisory Client List

We have managed or advised on many individual major property damage; business interruption; goods in transit and liability insurance claims in Australia, Canada, Singapore, UK and the USA.

For the clients below we have performed total Risk Managers functions, or selective Advisory or Management applications.

Broker & Risk Service Provider Bids

Traditionally, companies have struggled in determining how to review the role and performance of their insurance broker and other related service providers. A full and thorough review is the only way of ensuring that selection meets all the necessary criteria.

We have developed a tender process that provides outcomes ensuring benefits are derived in both the short and long term. Whether an existing broker is re-appointed or a new broker engaged, the entire insurance broker function takes an improved and objective approach.

Contract Evaluation

Contracts impact exposure to risk, the application and effectiveness of insurance and other forms of risk financing. We perform appraisals in this regard, identifying those exposures and recommending solutions that address the risk.

Contractor Controls

OH&S regulations and liability exposures dictate that all companies adopt a Contractor Management program which is well documented and broadcast to any contractors or sub-contractors that are engaged to perform outsourced tasks. We can formulate and assist implementation of the rules, as well as assume tasks associated with staff education and the necessary checking and monitoring mechanisms.

Corporate Governance

Today, Directors and Senior Management assume onerous risks. They must be certain that any adopted risk and insurance program is suitable, effective and continues to function efficiently. In short, the balance sheet, ultimately shareholders must be prudently protected. Horsell International can evaluate that effectiveness and professionally report the Board. Likewise, we can guide the Board as to their responsibilities, effective actions and solutions.

Corporate Policy & Strategy

Effective management of risk and insurance must be supported by corporate management. All corporations must have strong corporate policy and strategies relative to these issues. For success, implementation, adherence and monitoring is essential. Horsell International can help you formulate that policy and strategies, guide their implementation and audit the outcome.

Crisis Management, Business Continuity, Disaster Recovery

No modern organisation can avoid all forms of corporate risk or potential damage.  A realistic objective is to ensure survival of operations by establishing a culture that will identify those risks and manage and mitigate them should they eventuate.

A well prepared Crisis Management Plan (CMP) will provide the strategic framework to achieve this objective.  CMP is not just about crisis management, business continuity, disaster recovery, risk management or information technology.  It is a business issue that must be embraced by the board and management.  It represents an opportunity to review performance and processes; to improve procedures and practices; and to increase resilience to interruption and loss.

CMP is the process of anticipating incidents that will affect critical functions activities and events that may threaten or impact an organisation ensuring response to any such incident that is well planned and rehearsed.

A successful CMP will embrace:

• Demonstrated commitment of the board and senior management.
• Involvement of everyone in the organisation.
• A process that mirrors the changing and developing needs
• A build upon existing management procedures, particularly risk management, crisis management, continuity and contingency activities.

A culture that becomes part of the organisation.

Expert Witness

Whether it be opinions as to how the insurance market functioned early on; a technical evaluation of a policy wording application; a question as to a valid claim; or other insurance matter where legal argument is necessary; Horsell International possess the expertise to act as expert witness.

Incident Reporting

The tracking and monitoring of incidents, identification of monetary quantum, knowledge of the number of incidents experienced are all essential ingredients of any effective risk management program. We have developed reporting and management systems which can be implemented in house, or handled by us on an out-sourced basis. This process addresses non insured, under individual deductible or aggregate deductible losses and claims, as well as mitigation and recovery action.

Insurance Reviews

Correctly used as a means of risk financing, insurance represents an important business tool. Many exposures can be minimised or avoided if management is aware of the risks involved and the alternative means of addressing them. This involves the following services:

M & A Due Diligence

All corporations contemplating an acquisition or merger should perform a due diligence of past and present risk and insurance programs to identify exposures and contingent liabilities. We have developed a procedure to compliment the legal and accounting due diligence functions.

Risk & Insurance Management

Our core business is to act as Risk and Insurance Manager for our clients within Australia and internationally.

Our aim is to understand their business and our function is to guide them as to the most suitable global and/or local risk and insurance strategy. We formulate appropriate corporate policy and philosophy and implement the preferred solutions for risk financing.

Our role is ongoing, continually reviewing and updating risk and insurance strategies; monitoring and evaluating performance of the risk and insurance program, as well as that of service providers.

Risk Transfer Process

The question “is insurance the correct risk transfer process to be adopted” should always be evaluated in depth. Frankly, insurance is not always the correct solution. Management of risk is much more important than the insurance buying process. There are often preferable alternative risk financing techniques and mechanisms that provide better answers to manage exposures and protect the balance sheet. Higher levels of self insurance and even total self insurance; utilisation of captives; risk retention groups; retrospective rating; aggregate loss on deductible plans are often better solutions.

Workers Compensation Audits

Self insured Corporations need to regularly review the effectiveness, suitability and financial impact of their workers compensation program. Organisations considering the possibility of self insurance require the audit of existing insurance arrangements and evaluation of the impact if they were self insured. Where insured in the conventional sense, guidance as to corporate structure, premium and claims review audit is essential to ensure the cost is well managed.

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