Risk management is the process of making and carrying out decisions that will minimize the adverse affects of accidental losses to an organization. Lyman & Sheets is staffed with licensed insurance counselors who are fully prepared to serve as partners in your organization’s risk-management program. We can augment your existing knowledge, skills and abilities.
Most companies rely on a risk manager to protect its assets.
Do you know what your insurance program currently covers? Are you confident that there are no endorsements or exclusions that may limit your protection? Lyman & Sheets’ licensed insurance counselors can serve as your consultants by auditing your insurance program for gaps in coverage, duplications, and costs efficiencies. Areas of concern:
- Workers’ Compensation: Are the proper classification codes and rates being used? Is your experience modification factor accurate? Could you use forecasts of the future, negative or positive?
- General Liability: Are the proper classification codes and rates being used? Are additional insureds properly recognized? Have any endorsements been added that limit coverage? Are any endorsements missing?
- General Topics: Is the named insured correct? Are the values blanketed? Are the values written on an agreed-amount basis?
- Certificates of Insurance: Have certificates issued to your company by others been verified? Is coverage secured with a reputable carrier? Has your organization been protected by the proper additional insured endorsements? Does coverage comply with the requirements outlined in the contract?