2011 was one of the most challenging years for many business owners and will be one of the most costly for insurers. Losses from insured natural have exceeded $100 billion for 2011 undoubtedly triggering an opportunistic response from insurers. This on top of the increased scrutiny from stakeholders has put company senior leadership in the “hot seat” to be vigilant to mange risk appropriately. Company’s are still struggling under difficult economic times and need to be aware of and strive to manage their Total Cost of Risk (TCoR).
Not that anyone is short of 2012 resolutions, but we thought we would provide a convenient “checklist” of things you may want to put on your insurance and risk management agenda for the New Year.
If you have any questions or would like some help getting starting with any of the suggestions please do not hesitate to contact me.
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