Risk Analysis System

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Risk Analysis System  

CMR's Risk Analysis System is an advanced set of risk controls tailored to our construction clients designed to help reduce the severity and frequency of loss and ultimately reduce risk financing costs.

These risk controls consist of activities developed with our insurance company partners, which have proven to result in reduced loss experience.

CMR has negotiated programs with select insurance providers who specialize in the Construction industry to provide their most comprehensive and competitive pricing for firms that practice our risk control methods as they result in improved loss experience.

Traditional brokers use an antiquated method for obtaining quotes:

  • Gather basic information on operations, revenue estimates, payroll, etc.
  • Obtain 3-5 years of loss history
  • E-mail collected information to various insurance companies
  • Present the insurance company that has provided the most competitive indication

CMR leverages our industry knowledge and risk control programs to obtain the most competitive insurance programs available:

  • Monthly in person meetings with our select industry partners to review client details and risk control programs
  • Copies of various risk control documents, CMR site inspections and CMR interviews with management are provided to top level underwriters
  • Negotiate coverage's and premium rates with top level underwriters based on risk control programs, operations, location and loss information

Some of the Risk Control programs we help implement and monitor include:

  • Appropriate contractual risk transfer with contracted parties
  • Ensure that adequate safety procedures are in place and monitored to prevent or minimize loss exposures
  • Adequate General Liability insurance requirements in all subcontractor contracts meeting common "blanket" additional insured requirements
  • Update current certificates of insurance on file for all vendors, service contractors etc. (General Liability, Workers Comp. and Auto)
  • Provide a list of approved vendors that meet all above requirements
  • Current certificates of insurance on file for all subcontractors (General Liability, Workers Compensation and Auto)
  • Formal monitoring process in place to ensure correct insurance requirements provided during and after operations of subcontractors
  • Tailgate/Safety meeting topics to review with staff ensuring a safe work environment and instilling safety as major priority

Some additional ongoing reviews continue to ensure you have optimum risk control by managing the following responsibilities:

  • Project inspection reports addressing liability and workers' compensation exposures
  • Life safety inspection reports for fall hazards, cave ins, caught between, electrical shock, etc.
  • Formalized claim reporting procedures that outlines the appropriate way to gather all pertinent data (conditions, claimant activities, etc.) immediately following a loss
  • Written claim form to complete upon a loss
  • Emergency Plan communicated to all foreman/supervisors

In some cases, it is merely a matter of helping streamline current procedures and monitoring activities to make sure all procedures are being followed, in others it is a complete analysis, implementation and monitoring of a full risk management program. Regardless of your current risk management program or operating procedures, CMR will work with you to tailor a program that fits your unique needs.