So, is it Risk Management with Insurance or Insurance with Risk Management?
Whichever way round you consider this to be appropriate the two are critical to each other and are inseparable.
Private Clients: Sennocke work on the basic principle that “You can always replace objects but you cannot replace people”.
We are here to offer advice to help you achieve a ‘secure’ environment and in some cases, save you money. We have close connections with Physical Security and Alarm Companies which are helping supply high tech security solutions to our clients.
Some clients would rather manage their own risk by taking a large excess. This of course means that they are potentially exposed for large amounts and it is even more imperative that they take a proactive approach to Risk Management when it comes to security as they will have no recourse to Insurers.
It is a known fact that 60% of people are under-insured by as much as 40%. It is the client’s responsibility to ensure that both their Buildings and Contents are adequately insured and failure to do so may result in a reduction in claims payment or in a worst-case scenario, insurers avoid any claim.
For this reason, some years ago, we developed a Wealth Evaluation Scheme for clients to qualify and quantify valuation at a reasonable cost to avoid falling into such traps. For a few hundred pounds, you can have the contents of your Home professionally appraised.
Corporate: From a corporate point of view this would need to be dealt with in a wider ranging format to consider additional covers because of their exposure and the potential losses due to their inability to operate or continue to run their business must be covered as well (Business Interruption and Business Continuity).
Effective Risk Management is a critical component of any winning Management Strategy.
Combined with the right Insurance arrangements it will allow an organisation to trade and ultimately grow more securely knowing that there are systems and safeguards in place to cope with any problems that may arise. No two clients are the same so we develop and implement individual programmes depending on their need:
Business Continuity Planning
Health and Safety:
– Statutory Risk Assessments
– Fire Risk Assessments and Training
– Environmental Risk Assessments and Bio-remediation Techniques
– Driving at Work Policy and Driver Risk Assessments
Property Passive and Physical Security Surveys including Safes, Safe-rooms, Smoke Cloaks and other specialist advice – including preventative solutions such as DNA marking
Claims analysis to help spot changes in trends to reduce and minimise possible future losses.