The increasing complexity and rising costs within the risk insurance marketplace add another dimension to an organization’s need to better manage its business risk. Through our joint venture with one of the country’s largest independent global insurance and risk management consulting firms, CohnReznick UIC Consultants helps you protect your business assets by assessing your needs, optimizing your structure, and competitively acquiring your coverage.
We deliver timely, unbiased advice that cuts through the mystique of risk management/insurance, helping you make well-informed decisions about optimizing your coverage. CohnReznick UIC is fully independent in our judgment and recommendations – we hold no contracts or agreements with any insurance brokerage or carrier and do not earn commissions or fees from brokers, insurers, or agents. This commitment to independence helps you minimize risks while, in most cases, significantly reducing your insurance expenses.
RISK MANAGEMENT AUDITS
Our risk management consultants will conduct a thorough assessment of your risk insurance programs (property and casualty, worker’s compensation, D&O, E&O, general liability, cyber, etc.) and related exposures. In a comprehensive summary, we help you understand what your current coverage does and does not provide and whether your policies are optimal in fully addressing your operations and risks.
CONTRACT REVIEW AND ANALYSIS
Your coverage and costs are, for the most part, fully negotiable. CohnReznick UIC will assess your coverage in terms of how risk is transferred and/or assumed by your company and evaluate whether insurance approaches offer the best solutions in the event of a problem or claim. If your current insurance needs to be modified, or you are looking to extend your contract with a provider, our marketing and negotiation process can yield coverage enhancements and/or premium reductions based on your needs going forward.
PROFESSIONAL SOURCING OF COMMERCIAL INSURANCE PROGRAMS
If our assessment of your coverages leads us to recommend exploring new providers or programs, we will manage the entire process. Our tried and true process creates an orderly atmosphere that motivates insurers to present their most competitive proposals in a timely and professional manner.
M&A DUE DILIGENCE
If you are looking to grow your business through a merger or acquisition, we will oversee risk management due diligence and insurance transition planning for the target business. Our due diligence process identifies any financial liabilities arising from past insurance policies as well as risk management programs from the target business that may carry forward through the transaction.