A Consultative Approach Toward Addressing Your Risk.
Bolton’s proactive approach to risk control begins with our review that covers the external as well as internal risks facing your business. We then provide a comprehensive evaluation that forms the basis of the ultimate design of your insurance program, the need for disaster planning and the most economical way of allocating premiums to real versus assumed risk.
This will result in more thoughtful uses of deductibles, self-insurance, self-insured retentions or the use of other funding mechanisms to handle or transfer risk.
Coordinated through our dedicated in-house Risk Services Department, we offer the resources and abilities to assist an organization in this analysis and pursuit of a true risk control approach to their chosen business.
We are in the business of risk management, of which insurance is only a component. In fact, we see true risk management as made up of six distinct components:
- Avoidance – the ultimate decision whether or not to engage in a certain activity
- Loss Prevention – steps taken to try to eliminate losses within a chosen activity
- Loss Reduction – steps taken to reduce the severity of losses within a certain activity
- Segregation – the division of critical elements so as to reduce the chance of loss
- Contractual Transfer – transferring potential liability contractually to another party
- Financial Transfer – transferring the financial obligation of a potential loss (i.e. insurance)
Ultimately, our goal is to help you address each of these items relative to your unique needs so we can maximize your risk management approach.