Drive Down Your Total Cost of Risk by Taking the High Road
The road construction industry has unique risk characteristics that typically result in high insurance costs. Partnering with an insurance broker that knows the industry can significantly reduce your total cost of risk.
Having an integrative approach to risk management can foster a safer and healthier worksite with fewer losses and lower insurance premiums than your industry peers. Here are 3 essential pieces to keep in mind:
1. Risk Management- Safety, claims, risk transfer, wellness, compliance and financial analytics working together to:
- Identify early risk
- Effectively manage pre and post claims
- Reduce claims and premium cost
- Improve, compliant business processes
2. Safety- Create a safety program to ensure proper procedures are in place.
3. Risk Transfer- Obtain, analyze and monitor all certificates to ensure contractual obligations are met with insurance carriers.
For more ways to drive down your total cost of risk, check out our road construction flyer.
ABOUT THE AUTHOR