Insurance &
Risk Management

Specialized Insurance for
Design Professionals

Insurance and
Risk Management

Specialized Insurance for
Design Professionals

The Risk Specialty Group | 888-421-RISK (7475) | info@riskspecialtygroup.com

Our Approach

At the Risk Specialty Group, we take a unique approach to customizing your firm’s insurance program.  We use a 4 step process to determine what insurance best suits your company.

UNDERSTANDING
YOUR PARTICULAR
FIRM

Step 1 – Understanding Your Particular Firm

Our first step is to understand your specific business practice.  Each design firm has a unique service-to-project mix that must be evaluated individually. We break-out the Operations, Legal & Financial portions of your business to obtain an objective analysis.  We then assess actual risks of potential business loss that may be uninsured or underinsured, as well as risks that may be reduced or eliminated entirely.

Past claims history can also be analyzed to identify business operations with high risk and forecast potential future claim expenses.  This phase is concluded with a review of your company’s situation in comparison to management’s risk appetite.

MAPPING YOUR
FIRM’S CURRENT
SITUATION

Step 2 – Mapping Your Firm’s Current Situation

Phase II identifies the actual deliverables required to create your specific program. Deliverables are drawn from all three practice areas of Legal, Operations (including HR & IT) and Finance.

The risk management program is then used to determine required coverages, limits and financial structure compared to various risk retention (deductible) levels.

Depending on the situation, self-insurance or captive insurance is weighed as a means to retain coverage while reducing costs.

Step 3 – Execution and Ongoing Support

As an independent insurance agency, we assist in the actual execution once the various coverages and risk controls are reviewed and agreed upon.  This can include implementation of new operational procedures, terms and conditions within contracts and access to policies from carriers that provide tailored programs for design professionals.

Ongoing support includes same-day, often within the hour, responses to policy questions, increased limit pricing, risk control and claim situations.  We quickly provide Certificates of Insurance and help in managing your relationship with 3rd Party Contractor Management companies, such as ISNetworld, PICS, EBIX, etc.

EXECUTION &
ONGOING
SUPPORT

Step 4 – Follow Up

Throughout the entire relationship, we make ourselves available to make adjustments, improve communications and work in a way best suited to your needs.  Continuing Education (CE) courses are also available along with further Best Practices resources.

FOLLOW
UP

Our Affiliations

Ready for free quote?

We are an independent insurance agency which means we represent you, our client, instead of trying to push a particular carrier or product.  We can provide you with clear choices from over 20 carriers that fit your needs. We only offer coverages from “A” rated carriers as classified by A.M. Best.

FILL OUR EASY TO USE APPLICATION & GET A RESPONSE TODAY!

CONTACT US TO SPEAK TO AN INSURANCE ADVISOR TODAY!