When asked about the concepts of Risk Management, many people immediately think of insurance as the only solution and strategy for managing their risk. But in fact, insurance is only one of many options they have. The four basic strategies for managing risk are Prevent, Mitigate, Transfer and Finance.
Buying an insurance policy is the most common mechanism used under the Finance option. Insurance is certainly important as it is often required by law, by your bank, or by a customer. And the reality is you would not want to operate without it. Therefore, insurance must be done correctly.
Insurance is not something that should be simply sold or bought, as is the case with traditional insurance agents. Insurance must be properly matched with the unique risk profile of each business. We take pride in the fact that we provide a coverage analysis for each client. We then work with the national and regional companies which we represent to find the right combination of broad coverage and competitive premium.
Educating our clients about their coverage options is a top priority as well. We take the complex and make it simple to understand.
Many think insurance is the primary answer to Risk Management, but we encourage our clients to think of it as just one tool in our toolbox of strategies. But it is also the tool where our impact is most easily measured in terms of premiums saved and losses covered, both of which are of utmost importance to everyone at IronRisk Strategies.
Following are some of our partners that we utilize to meet your insurance needs.