Risk Management Services
In 1986, Lockton formed the Risk Management Department as an in-house consulting arm to focus specifically on designing creative alternative risk financing structures for our
clients who assume risk in their insurance and risk financing programs. The group has grown to include 14 seasoned professionals with a diversity of backgrounds including accounting, banking, reinsurance, actuarial, and tax. This diversity of backgrounds allows this group to structure creative programs optimizing our client objectives from a cash flow, budget, accounting, and tax perspective.
The Risk Management team members are charged with the responsibility of understanding all of the available risk financing vehicles in the marketplace and applying them appropriately to a specific client problem. Once a program is in place, we have the capability to measure and quantify the financial impact of any risk assumed.
The Risk Management Department is broken into the following five practice groups:
- Quantitative - This group produces all of our analytical and actuarial analysis
- Risk Finance - Focused on designing creative risk-financing alternatives such as Rent-A-Captives and Finite Risk
- Captive - Focused on producing captive feasibility studies and risk retention studies for our clients
- Accounting/Tax - Provides guidance (not advice!) on accounting and tax issues as it relates to various alternative risk structures, and also prepares white papers on issues of interest in this area
- Enterprise Risk Management (ERM) - Provides guidance and analytics to support the ERM process of evaluating all exposures across an organization
The coverages we typically work with include:
- Workers’ Compensation
- Professional Liability
- General Liability
- Auto Liability
Service starts with listening. We take the time to understand your specific goals, design a program that fits your needs, aggressively negotiate coverage, and implement a service plan. You will have the same dedicated service team throughout the entire process which allows us to anticipate your needs and create accountability.
It’s all about you. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
Long-term thinking. Clients stay with us based on our expertise, creative solutions, seamless global resources and outstanding service. Our client retention rate of 95 percent reiterates our commitment to each and every client.