Every business owner needs to consider the array of Alameda business insurance products and services they might require in order to better protect their company and its assets. This often means aligning the company with an agency with access to many different insurance providers, coupled with the expertise to guide clients through various evolutions of insurance program designs geared to help with any changes or evolutions that might occur as their organizations develop.
Viable solutions are available, whether through reviewing deductibles, negotiation of partial self-insurance or loss sensitive programs, or ultimately to the consideration of alternative risk transfer vehicles, and the right firm can help provide high-quality counsel through all the various phases of growth and change.
The best brokers understand the risks being faced
A good agent is able to guide a firm through its renewal process and offer guidance, moving forward, in risk management practices and procedures beyond the placement of an insurance program. The insurance program purchased should be the most tangible representation of the company’s management of their own risk, but it should not be the core of any risk management plan. Sound fundamental practices and processes being instilled throughout the organization are the keys to helping manage and ultimately lower any overall cost of risk.
After all, a broker that is best serving his or her clients’ interest should not just be visible to them only during the months surrounding the renewal date. Most clients would agree that they depend on their agent to successfully re-evaluate their constantly changing needs and appreciate that type of focus from an agency the rest of the year, which has even more long-term value to them than the positive results they’ve come to expect at each annual renewal.
Some of the products and services to consider
The right insurance group can provide the following:
- Commercial Property
- Workers Compensation
- Umbrella/Excess Liability Coverage
- Errors & Omissions, and
- Management Liability
These services should include a broad range of risk financing options, such as guaranteed cost, deductible or other partial self-insurance options, as well as captive insurance services, Directors and Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime, etc., for publicly traded or privately owned companies. The agency should also provide relevant claims examples and quantitative data regarding purchasing habits of peer companies.