Risk Management Services

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The Risk Specialty Group is your go-to for risk management and insurance solutions. We cater to design professionals by providing guidance and access to specialized carriers that your current agent might not even know exist. Thanks to our extensive network of insurance carriers and global markets, we help businesses like yours upgrade their insurance coverage while reducing associated costs.
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Risk Management Solutions

Our approach is driven by you. We can be as hands-off as you want us to be, or we can provide you with tailored advice throughout your customer journey.

Many businesses view their insurance agent as a “vendor”. That is not us. We are a “guide” in helping you navigate the complex world of risk management insurance.

Think of us as your outsourced Insurance & Risk Management department. By simplifying the complex, we can help you reduce risk and increase profit.

All Business Insurance Solutions

Our comprehensive risk management services safeguard your assets, employees, and profits against unexpected challenges.

Types Of Business Insurance Offered

We offer a full range of business insurance solutions. Each policy is designed to protect your business from specific risks, ensuring comprehensive coverage and peace of mind.

Commercial Automobile Insurance

Covers your business vehicles against accidents, liability, and damage with specialized commercial automobile insurance.

Business Personal Property Insurance

Protect your business equipment, inventory, and furnishings from loss, damage, or theft with comprehensive business personal property insurance.

Cyber Liability Insurance

Defend your business against cyber-attacks and data breaches with robust cyber liability insurance coverage.

Directors and Officers (D&O) Liability Insurance

Safeguard directors and officers from legal claims related to business decisions with directors and officers (D&O) liability insurance.

Employment Practices Liability Insurance

Ensure coverage for claims related to wrongful termination, discrimination, or harassment through employment practices liability insurance.

Environmental Liability Insurance

Secure your business against environmental damage, cleanup costs, and related legal expenses with environmental liability insurance.

Fidelity and Crime Insurance

Protect your business from financial losses due to fraud or theft by employees with fidelity and crime insurance.

Fiduciary Liability Insurance.

Provide coverage for claims arising from the mismanagement of employee benefit plans with fiduciary liability insurance.

General Liability Insurance

Obtain fundamental protection for bodily injury, property damage, and advertising injury claims with general liability insurance.

Inland Marine Insurance

Cover your business assets in transit or stored off-site with inland marine insurance.

Kidnap and Ransom Insurance

Get comprehensive coverage for ransom payments and crisis management for high-risk operations with kidnap and ransom insurance.

Professional Liability Insurance

Protect your business against claims of negligence, errors, or omissions in professional services with professional liability insurance.

Surety Bond Insurance

Guarantee your business meets its contractual obligations with surety bond insurance.

Umbrella Insurance Policy

Extend your coverage beyond standard policy limits for added protection with an umbrella insurance policy.

Workers Compensation Insurance

Cover medical expenses and wages for work-related injuries or illnesses with workers compensation insurance.

Who Needs a Risk Management?

Businesses of all sizes and industries benefit from risk management insurance, especially those with significant liability exposure or complex operational structures. This service is valuable for professionals including Land Surveyors, Software Designers, Manufacturers, Construction Managers, EPC Firms, Control System Integration specialists, Cost Estimators, Drafting Firms, Landscape Architects, Interior Designers, and Finance professionals. These sectors require tailored risk management to reduce vulnerabilities.

Acquiring Risk Management 

To find the right broker, companies should:

Assess Needs
Identify specific risks and insurance gaps within the business.
Compare Brokers
Look for brokers specializing in the industry and with a track record of successful risk mitigation.
Evaluate Services
Ensure the broker provides a comprehensive approach, from risk assessment to claims management.
Risk Management Services 1

How Does a Risk Management Insurance Broker Function?

Risk management insurance brokers collaborate closely with businesses to identify and address potential risks. After a risk assessment, brokers recommend suitable insurance policies, often negotiating with insurance providers to secure optimal rates. In case of a claim, they guide clients through the claims process to ensure fair settlements.

FAQs about Risk Management

What is risk management?
Risk management involves the identifying, assessing, and prioritizing of risk exposures, followed by coordinated efforts to minimize, monitor, and control the probability or impact of these exposures.
Why is a risk management plan important?
A risk management plan provides the blueprint on how to proactively manage risks, and gives direction to all employees related to carrying out the risk management game plan. This includes stating the specific goals desired; a step by step guide for achieving those goals; and practical ways to measure progress on an on-going basis.
What services are included in risk management?
Risk management services encompass risk assessment, mitigation strategies, insurance solutions, and ongoing monitoring to protect against financial loss, bodily injury or property damage.
How does risk management benefit businesses?
It helps businesses limit their exposure to risks of financial loss, bodily injury or property damage, which helps increase their profit and safeguard their assets.

How is insurance related to risk management?
Insurance does not keep an unfortunate event from occurring, but it does help pay for it. Risk Management is split up into two (2) buckets; Risk Control and Risk Financing. Risk Control helps to “control” the exposures in a business’ operations. Risk Financing is how the losses will be paid for if/when they occur. Insurance falls within Risk Financing since it is a way businesses can transfer the payment of expenses associated with a loss over to the insurance carrier.
Why consider risk management consulting?
Risk management consulting provides guidance to businesses on identifying, assessing, and managing financial risks. You can do it yourself, but wouldn’t you prefer to work with an insurance agency that already works with firms just like yours?
How much does risk management consulting cost?
If you work with our agency, we can often provide risk management services for free, since they are often included in the premiums you pay for insurance.

What are effective risk management solutions?
Effective risk management solutions include risk assessments, placing or revising insurance coverage, contingency planning, and proactive monitoring to minimize potential threats.
What areas of a design firm need risk management?
We have classified three broad areas within a design firm where Risk Control and Risk Financing can be utilized: Finance, Legal and Operations.The area of finance may not seem relevant to risks associated with design firms, but this includes borrowing money to meet payroll, investments the firm has made, employee benefit plans, and aging accounts receivables.

Design firms are required to maintain a level of skill and care ordinarily demonstrated by members of their profession under similar circumstances and at the same time their services are performed, in the area that they practice. The law does not require perfection, just reasonable skill, and care. Failure to meet this “standard of care” is a necessary element for establishing negligence.

Lastly, there are many various risks associated with operating any type of business. Many of these operational risks can be mitigated using insurance policies. Others require the firm to create policies, processes and procedures around the various practice areas to increase the odds of favorable results.

Which risk management tools are recommended for businesses?
Risk assessment software, financial modeling tools, and enterprise risk management (ERM) systems are recommended.
Get more answers to your professional liability insurance questions by contacting Risk Specialty Group today.

Why Choose Risk Specialty Group?

At Risk Specialty Group, we’re not just an insurance agency – we’re your guide in navigating the complex world of insurance and risk management. Unlike many agents who act as “vendors,” we partner with you to ensure your risks are covered while minimizing insurance costs. Here’s why businesses choose us:

Industry Expertise

We bring deep knowledge across industries, tailoring insurance and risk solutions to your unique needs.

Customized Solutions

We craft personalized strategies to address your specific business risks.

Proactive Approach

We identify and mitigate risks before they become costly issues.

Comprehensive Coverage

We offer broad protection, from property and liability to employee coverage.

Trusted Partnerships

We work with top-rated carriers to provide the best coverage at competitive rates.

Ongoing Support

We’re with you every step of the way, offering continuous guidance and policy reviews.
At Risk Specialty Group, we’re more than just your insurance agency – we’re your risk management partner.

What Our Clients Are Saying

Contact Us Today

Ready to take the next step? Contact Insurance Firm today and experience the trusted support of Risk Specialty. Whether you need expert guidance or have questions about your professional liability insurance, we’re just a call or click away. Let’s connect and secure your professional future today!

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Risk Management Blog

Stay informed with industry insights and expert analysis on professional liability insurance. Visit our risk management blog for valuable resources and updates from Risk Specialty.

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