Welcome

to Risk Management Done Right

Areas of Expertise

MAP Consulting can provide advisory services in multiple areas to help you manage risk and compliance with both efficiency and effectiveness. We can also help you make certain you’re asking the right questions to appropriately manage risk for your organization. Below are some of the tasks that MAP Consulting can handle for you along with questions you should be asking.

Insurance

  • Broker Request for Proposal (RFP) and interviews. Do you know how much your broker gets paid by each insurance company for placing your policy?

  • Review current policies and endorsements: Property, Casualty, Workers’ Compensation, Cyber Executive Lines, and other policy types as applicable to your company’s business needs. Do you know what your sub-limits and exclusions are?

  • Maintain a company policy register. What are your company’s insurance costs year over year and did your exposures change?

  • Prepare renewal/submission packages for underwriters. Receive carrier quotes and handle negotiations through broker/agent. What is your story and who is telling it on your behalf?

  • Maintain a company Statement of Values (SOV). What are the values and what risks are you insuring? How much coverage do you have? What are your deductibles?

  • Allocation methodology. Why should my department pay for the other department’s bungee jump event?

  • Marketplace updates and insurance industry trends. Since when is it a hard market?

Claims

  • Appropriate and timely incident/accident reporting procedures which affect the final dollar amount of the claim, your company’s work comp experience mod, etc. Who what, when, where, and how?

  • Claims submissions, management, negotiations, and settlements. What is your claim worth and who decided that?

  • If it isn’t a claim, what is it? Proper investigation, documentation, and expense tracking are key to determining if you have the right type of coverage, deductible, policy, etc.

  • Prepare claims for discovery, coordinate depositions, discuss strategy, and work directly with the insurer to appropriately set reserves. Do you have large reserves at renewal?

  • Pursue subrogation efforts for recovery from a third party. Why is it my problem if they broke it?

Contracts and Third Parties

Other

  • Contract language review including indemnification language, insurance requirements of all parties, etc. Whose insurance is primary?

  • Review of Certificates of Insurance to ensure contract compliance. What if the vendor doesn’t have that coverage?

  • Audits (all lines)

  • Insurer Loss Control

  • Safety

  • Incident Response and Disaster Recovery

  • Builder’s Risk

  • Bonds

Partnering with companies to identify & manage risk since 1993.

In many organizations, the role of “risk manager” is a shared responsibility - often between Finance, Human Resources, and the company’s insurance broker/agent. MAP Consulting allows our clients to free up internal resources by outsourcing risk management functions. We provide:

  • Objective advice with regard to your insurance needs. We do not sell insurance products nor receive compensation from insurance carriers, agents, or brokers.

  • Knowledge and experience that allows you to differentiate your company from competitors. We can handle your submission package from start to finish and make certain your story is being conveyed to underwriters in a positive, proactive, manner that results in the best possible renewal for your company.

  • Thorough policy and endorsement review to identify coverage gaps, sub-limits, and possible new coverage considerations.

  • Due diligence for acquisitions to identify the risks that come with purchases and sales.

  • Claims management. We can handle one, a few, or all of your claims for any or all coverage types. Our years of claims experience ensure that claims are settled per the policy, in the least amount of time possible, and in the most cost-effective way.

  • Standard reporting. We can design something simple or complex.

  • Insurance speak. We can translate TIV, SOV, RCS, COI, ACV, and more.

  • Policies and procedure development and review. These are a necessary part of risk mitigation and we can write, review, or implement.

  • Contract/insurance language review, vendor negotiations, and third-party insurance requirements.

MAP Consulting is available on an hourly, retainer, or project basis. Our list of satisfied clients include public agencies such as counties, housing authorities, intrastate agencies, and private companies in the areas of hospitality, banking, property management and construction.

Contact Us

michele@riskmanagerforhire.com
(612) 669-2819

“Take calculated risks. That is quite different from being rash.”

– General George Patton

Get in Touch

Free up your internal resources by making us your Risk Manager for Hire. You maintain control of the Risk Philosophy. MAP Consulting is simply your risk partner.

Send us an email or give us a call to learn more about the services we offer.