The RISK DETECTIVE™ Knowledge Series - Article 1

Have you detected all of the risks in your business?

In most cases, the answer is no.  Most companies have never investigated all of the risks
in their business.  Usually they rely solely on their insurance policy to protect them, and this
can be a big mistake.

While it is certainly necessary to have insurance, it can often give you a false sense of security because there may be many things that may have been left unprotected.

Consider the story of a local manufacturer.  He thought he was fully protected by his basic insurance policy.  But then his factory burned down.  Because he didn't have business interruption protection, and insufficient coverage,  he had to pay $500,000 out of his own pocket to get his company up and running again.  This dollar figure does not account for the lost revenues and loss of clients that he also experienced.  Unfortunately, the manufacturer learned an expensive lesson in the importance of risk management.

That's why we created The RISK DETECTIVE™ Program. This is a comprehensive step-by-step process that investigates in detail the risks inherent in your business.  This process goes above and beyond the risk analysis done by the average insurance broker.  The program represents state-of-the-art risk management practices.

It is important to note that this process does not mean you will necessarily have to buy a more expensive insurance policy.  Many of the risks uncovered can be dealt with in a non-financial manner.  As well, it often reveals that there are elements of your existing insurance policy that are unnecessary.

The first step of the program is a complimentary risk assessment. During this 90-minute starter session, we will help you assess your overall risks, and develop a preliminary plan to minimize your risks, and control what we call your total cost of risk.

If you would like to schedule this valuable starter session, give Mike Toole a call today at 506-458-8505.