Services

Only through a thorough risk assessment process can coverage be matched to true exposures to loss. We help buyers of insurance achieve appropriate levels of coverage, often at significant savings.

Get Started About ARS

Key Services

A full spectrum of risk management support

We have helped hundreds of organizations reduce their insurance costs while improving their protection from accidental loss. No matter your needs, we respond to your immediate questions and develop solutions that meet your objectives.

Coverage design and audit support
Exposure and insurance program analysis
Risk financing and alternative funding strategies

Our approach

No matter what your needs, ARS will work with you initially on our nickel in responding to your immediate and specific questions and concerns. If a study is needed to determine the appropriate solutions we will provide only those actions that will benefit you and that are agreed to by you.

When you work with us, you will always have the peace of mind knowing that we saved you money first on our fees by working closely with you throughout the process in developing the risk management and alternative risk financing strategy that meets your needs.

Key insight: We start with your immediate questions and build a tailored plan that prioritizes measurable outcomes.

Core service areas

Specialized services aligned to complex commercial risks.

Policy Audits

Policy Audits and Opinions assist with financing requirements and broker compliance.

Exposure & Program Analysis

Determine appropriateness of coverage based on concerns and promised terms.

Program Negotiations

Advocate at renewal to capitalize on market capacity and improvement opportunities.

Vendor Selection

Assess performance of brokers, carriers, and third-party administrators.

Competitive Biddings

Use a clear RFP to secure uniform coverage and improved leverage.

Claims Audits & Oversight

Review claims procedures, reserve adequacy, and administrator performance.

Group Program Reviews

Feasibility studies for group or association programs and benchmarks.

Self-Insurance Feasibility

Compare alternatives including captives and risk retention groups.

M&A Due Diligence

Evaluate risk financing implications prior to final purchase decisions.

Risk Management Reviews

Formalize, augment, or administer risk management awareness and functions.

Service details

Explore the specific scope and value of each service area.

Policy Audits Exposure and Insurance Program Analysis Program Negotiations Vendor Selection Competitive Biddings Claims Audits and Oversight Group/Association Program Reviews Self-Insurance Feasibility & Risk Financing Studies Merger and Acquisitions Due Diligence Risk Management Program Reviews

Policy Audits

Who designed your insurance coverage and what was their process? Did you know coverage design is your responsibility? More and more agents and brokers are disclaiming responsibility for coverage design. ARS corrects the gaps and overlaps in coverage stemming from coverage checklist program design.

Policy Audits/Opinions assist insurance buyers with securing or maintaining bank financing, meeting the requirements of HOA governing documents, help ensure broker compliance with promised coverage and afford the opportunity for improvement in cost and coverage through a critical set of eyes.

Exposure and Insurance Program Analysis

Without an exposure based coverage design, you are most likely spending more money than necessary, not properly covered, and dealing primarily with a transaction-based brokerage firm. At ARS, we determine the appropriateness of coverage and pricing after we identify and measure your exposures to loss, evaluate your risk management philosophy and tolerance for risk, and review insurance policies.

We compare viable alternatives involving varying degrees of risk transfer and cash flow benefits, including insurance plans (e.g., guaranteed cost, deductible, and retrospectively rated plans) and self-insurance programs (e.g., captives, risk retention groups, and qualified self-insurance).

Our process includes

Conduct interviews to identify, analyze, and quantify property and casualty exposures.
Inspect physical premises of key facilities and operations for exposure identification.
Review loss prevention and safety initiatives to balance safety and underwriting approval.
Review claims loss experience and in-house procedures for handling effectiveness.
Review sample contracts for insurance requirements and risk transfer clauses.

Program Negotiations

What can a buyer do to avoid undesirable consequences at renewal? Insurers are in the business to make a profit for shareholders. What commercial insurers do is not personal. It is business.

The nature of the insurance marketplace requires an advocate at renewal to ensure improvement opportunities are assessed and capitalized on based on market capacity, risk profitability, and best-practices buying methods free of carrier influence.

Effective negotiation requires

Be proactive and start early.
Order current loss runs and challenge reserves when appropriate.
Highlight quality risk control and safety initiatives.
Explain the rationale behind program coverage features.
Be a discriminating buyer and preferred risk within your industry.
Obsess over insurer partnering, fairness, and relationship.

Vendor Selection

Working successfully with insurance companies, brokers, claims administrators, and loss control providers on the technical aspects of service and in monitoring these efforts through audits equips ARS to assist you in assessing performance or searching for alternatives.

A well-constructed Request for Proposals (RFP) should delineate the services desired and any special arrangements that should apply, and provide pertinent information about operations and risk management programs.

Competitive Biddings

Professional marketing of your insurance provides leverage: coverage and service uniformity, lowest cost, broadest coverage for the cost, comprehensive program analysis, and a broader field of alternatives.

ARS provides common risk management data, historical program information, coverage specifications and limit structures, and analysis worksheets to support thorough review of proposals from providers.

Claims Audits and Oversight

Self-insured claims represent the greatest program expense and offer the greatest savings opportunity in controlling the total cost of risk. We review claims philosophy, organizational structure, staffing, claims flow, and handling standards.

Claims audits should be done by an independent eye and review claims procedures, reserve adequacy, and payment accuracy to evaluate the quality and costs of the claims administrator’s services.

Group/Association Program Reviews

Looking to develop, maintain, or join a group/association program, but wish to make sure your desires are its purpose? Programs vary based on immediate needs and long-term goals.

A professionally performed feasibility study, operational review, or benchmarking study in the context of forming, maintaining, or joining a group program is critical to meeting your needs in the short and long run.

Self-Insurance Feasibility & Risk Financing Studies

We compare alternatives involving varying degrees of risk transfer and cash flow benefits, including insurance plans and self-insurance programs such as captives, risk retention groups, and qualified self-insurance.

Under the right circumstances, these programs are the right solution. Our analysis can focus on the program in question while allowing you to consider alternatives.

Merger and Acquisitions Due Diligence

Mergers and acquisition activities and their completion have significant implications for the risk financing process, and decisions are often made without consulting insurance brokers.

ARS is a proven asset in due diligence, evaluating seller loss exposures, assessing risk financing implications, and determining how those factors impact the transaction and price.

Risk Management Program Reviews

Applied Risk Solutions is retained regularly to formalize, augment, or administer this critical function. We validate best practices, make recommendations in key areas, and outline priorities for action.

Our assessment involves significant data review, scripted interviews with key operations staff, and evaluation of how risk management functions are performed across the organization.

Have a specific coverage concern?

We will respond to your immediate questions and outline a clear path forward.