Examine Your Insurance Policy Wording For Effective Risk Management

Effective Risk Management

An effective risk management strategy should include careful policy and endorsement reviews to correct potential uninsured problems and avoid an expensive coverage-litigation battle.

Most risk management consultants are never taught the proper way to read and interpret an insurance policy or correct policy language. This can result in coverage denials, missed opportunities, and keep you from putting an effective risk management strategy in place.

As part of an effective risk management strategy, we help our clients interpret existing policy language. We’ll help to examine your insurance policy wording for the following:

  • Fill All Coverage Holes – If you don’t do this correctly, you may find your company to be self-insuring against risks you thought and hoped were covered.
  • Cover All Corporate Entities – You need to make sure your General Liability policy includes a broad form named-insured endorsement to automatically pick up all subsidiaries and newly formed entities, including limited liability companies, without the need to alert your underwriter following an acquisition or corporate reorganization.
  • Watch Change of Protocols – If your company has been involved in recent corporate deals make sure to examine change-of-control provisions in all Management Liability.
  • Ensure Excess Policies Follow Form – Make sure your insurance tower does not contain potential gaps in coverage where excess layers do not follow form closely to the related primary and umbrella coverages.

Contact us below to have a KMRD risk professional identify and correct coverage and service gaps in your business insurance risk profiles.


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