October 26, 2015 / by KMRD Partners /
For large companies, it is almost always less expensive to self-insure the usual and predictable level of claims. The level to which you self-insure, whether on a per-claim or aggregate basis, is a decision that requires a cost / risk benefit analysis. A non-standard insurance program blends traditional insurance with self-insurance. KMRD’s team of experts […]
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Substance abuse affects 70% of US businesses
May 10, 2016 / by KMRD Partners / One Minute From Normal Series / 0 comments
Substance abuse affects 70% of US businesses, according to a recent study fielded by the US Department of Health and Human Services. Substance abusers represent approximately 17% of the average workforce. Substance abusers typically cost a company about $7,000 per user, per year. Substance abusers cause 35% of all industrial injuries and fatalities. According to […]
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Better Loss Run Reporting Supports an Improved Total Cost of Risk
February 25, 2016 / by KMRD Partners / One Minute From Normal Series / 0 comments
Just as a balance sheet will help you understand the financial strength and capabilities of your company, a good loss run report can guide your risk management program in developing risk management plans, tracking the results of risk management efforts, identifying problem areas and projecting costs. A basic loss run report offers only minimal information […]
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Updated OSHA Recordkeeping Rule One Year Later
December 16, 2015 / by KMRD Partners / One Minute From Normal Series / 0 comments
At the beginning of 2015, the U.S. Department of Labor’s Occupational Safety and Health Administration issued an updated Reporting and Recordkeeping Rule to tighten its fatality, injury and illness reporting requirements. The updated rule retained the requirement to report all fatalities within 8 hours and added the requirement to report all inpatient hospitalizations, amputations and […]
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Structuring Non-Standard Insurance Programs
October 26, 2015 / by KMRD Partners /
For large companies, it is almost always less expensive to self-insure the usual and predictable level of claims. The level to which you self-insure, whether on a per-claim or aggregate basis, is a decision that requires a cost / risk benefit analysis. A non-standard insurance program blends traditional insurance with self-insurance. KMRD’s team of experts […]
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Captive Insurance Programs
October 25, 2015 / by KMRD Partners /
Captive Insurance Programs come in many different shapes and sizes. Each type has benefits and weaknesses but all give participants access to underwriting profits in exchange for taking on measured risks. Depends. Some will tell you need to be a large company paying in excess $1M for traditional insurance today to consider this approach. This […]
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KMRD Consolidated Insurance Program Creates More Coverage and Savings
July 21, 2015 / by KMRD Partners /
The consistency of risk transfer programs throughout an organization is crucial. KMRD strives to align all your coverages, while reducing your overall cost of risk.
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Risk Management Template Sample RFP – KMRD
July 9, 2015 / by KMRD Partners /
This Risk Management Template Sample RFP includes: Coverage / Policies: Property Boiler & Machinery General Liability Auto Workers Compensation Pollution Legal Liability Products Recall Director’s & Officers Liability Employment Practices Liability Fiduciary Liability Commercial Crime Loss Overview: General Liability Claims Frequency and Average Losses – Commercial Property Claims Frequency and Average Losses – Commercial Auto Claims […]
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Risks Ahead. Did you know?… Catastrophe risk
July 9, 2015 / by KMRD Partners / Risks Ahead Series / 0 comments
“The frequency of catastrophic events appears to be increasing, with a record number of catastrophes last year,” according to Swiss Re’s chief economist. 1. A record 189 natural catastrophes were recorded in 2014. 2. The most costly insured catastrophe loss in 2014 came from lightning and hailstorms in the United States in May, resulting in […]
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Risk Management Service Team
June 8, 2015 / by KMRD Partners /
Your Service Team Role of Sales and Relationship Manager Role of Risk Manager KMRD’s Risk Managers are a key part of your outsourced risk management staff and serve your day to day needs. They are responsible for implementing and monitoring KMRD’s Service Plan, which includes: Role of Account Manager KMRD’s Account Managers work closely with […]
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Sources of Insurance Industry News
June 3, 2015 / by KMRD Partners /
AM Best – A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. Policyholders and depositors refer to Best’s ratings and analysis as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles. Best’s Property & Casualty Center […]
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