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
- Property
Lockton Service
The key to our success is working in close partnership with each of our clients. Our specialists take time to listen and to understand your specific goals so that we deliver insurance solutions tailored to your requirements. This approach has earned us the trust of clients all over the world.
The same team that designs, negotiates and implements your business insurance plan with the carrier is also responsible for managing your service needs. This dedicated team approach increases our understanding of your business, allows us to anticipate your needs, and creates accountability and ownership by the team throughout the entire process.
Most insurance brokers promise a high-level of personalized service, but our unique structure allows us to actually deliver on that promise everyday. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
We firmly believe we get business based on our expertise, creative solutions and outstanding service. Just as importantly, our client retention rate of 95 percent reflects our commitment to each and every client.