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Risk Management Services

At Knight International/(Hilb), we offer more than just insurance products. We can provide risk management services in place of, or in addition to, insurance placement services. Although our risk management expertise is already an added value to our clients, we too can work as an independent consultant to review, evaluate and monitor your current insurance program.

Our goal is always to protect the assets and earning power of our client by minimizing risk and maximizing exposure knowledge. A client cannot prevent what they do not know, so it is our responsibility to understand their business and protect them from loss. Our approach is simple; prevent the loss from occurring and if not, then mitigate its effect on the bottom line and fund its impact by proper self-funding or risk transfer.

Risk Control

We work together with our clients and the insurance carriers to provide the most cost-effective means for managing risk while obtaining the desired results—fewer accidents, greater productivity, safer work environment and lower costs. We review all possible options to avoid, lower and transfer exposure. Such services can include;

  • Exposure Identification
  • Quantitative and Qualitative Analysis
  • Contractual Review
  • Policy and Procedure Implementation
  • Risk Transfer Strategy
  • TCOR Analysis

Claims Advocacy

In addition to risk control, our ongoing commitment to the success of a program is evident in the value-added services we can provide in claims advocacy. By working close with our clients, the insurance carrier and claims administrator, we can help ensure that claims are being managed effectively, that alternatives are considered when appropriate and that improvements are made to keep your program on track. Such services can include;

  • TPA Selection and Evaluation
  • Review and Analysis of Loss Runs
  • Scheduled Claims Meetings
  • Review of Experience Modifications
  • Claim Reserve Review
  • Medical and Litigation Management
  • Claim Reporting Procedures
  • Coverage Analysis and Interpretation
  • Catastrophic Claims Management
  • Loss Trending, Triangulation and Stratification

Risk Funding

It is important that we work with our clients to first establish their risk tolerance level and then implement the most cost-effective risk financing technique/program. Risk financing programs can range from fully insured to self-insured in both the traditional and alternative marketplace. After a complete actuarial review and cost-benefit analysis we can help our client determine which funding approach and product best meets their needs.