Risk Management & Assessment
The best way to save money on insurance isn't necessarily finding a new insurance company. Usually, it makes a great deal more sense to reduce the amount of risk that your business faces. With risk management and risk assessment services from NXG Insurance Group, you can reduce your company's exposure over the long run, saving you time and money.
NXG Insurance Group provides helpful services to organizations both large and small to reduce the frequency and severity of claims. We accomplish this by identifying likely problem areas and creating effective solutions so that your risk exposure is brought under control.
Getting To Know You
One of the most critical components of managing the risks for any organization is understanding that company from the ground up. Experts who specialize in liability issues work closely with upper-level management to determine where the problem areas are and how to overcome these issues. Professionals who assess risks for an organization come to thoroughly understand the company's business model. Before long, they become extraordinarily well informed concerning industry competitors, the intricacies of the supply chain and any risks that may exist within the production and distribution sectors of the operation.
It also is crucial for assessment professionals to understand the organization's short- and long-term goals. Once identified, it becomes necessary to question what could derail the achievement of these goals. This makes it possible to formulate contingency plans to prevent or minimize these hazards.
Customized Safety Plans
A safety engineer from NXG Insurance Group with considerable experience in the field can produce a customized safety plan for your business. This plan will include consideration of all local, state and federal laws as well as industry-specific rules and regulations.
We'll tailor the plan to fit not only your industry but also your unique organization to ensure the best possible coverage. Many of these plans include on-site inspections, thorough safety training sessions, assistance with OSHA compliance and an analysis of catastrophic exposures. Property valuation analysis, including a probable loss calculation, further is available.
Reviewing Existing Insurance Policies
Another component of assessing risks involves reviewing current insurance coverage. Clients frequently are surprised when they discover how inadequate their existing policies are. Perhaps they've been fortunate to have avoided any outsized liability thus far, but there are no guarantees in the future. All it takes is one mishap or mistake to bring about devastating circumstances that could destroy the organization. Reviewing current coverage for gaps or inadequacies is one of the most valuable services that is performed by professionals who help businesses manage risks.
Every business is different, and that means that every business has unique exposures. Accordingly, NXG Insurance Group recognizes the need for customized solutions. We believe that one-size-fits-all approaches to the assessment and management of risks have no place in our business model. That's why we take the time to really get to know your operation, your areas of greatest potential liability and your company's goals.
Streamlining the Claims Process
However, we're not just there for you when it's time to assess and manage your company's risks. Another area in which we excel is the claims process. When things go wrong, we're right there at your side at any time of the day or night. We're known for our staunch advocacy for our clients. In fact, this is one of the things that we believe sets us apart from other insurance brokers. Our seasoned staff of claims advocates is proactive, dedicated and committed to getting our clients back on track.
We do our utmost to help you avoid problems, but when the unexpected arises, then it's time to focus on mitigating losses and getting claims paid as efficiently as possible. This means that you can get back to the running of your business in less time, which helps to preserve productivity.
Long before it's needed, our claims management professionals go to work, creating a customized service plan that outlines how your claims management process will be streamlined. This may involve analyzing any past losses in order to formulate recommendations for avoiding these problems in the future.
Should you sustain a loss, the team at NXG Insurance Group stands ready to arrive at an expedited resolution. This includes advocating for coverage of the loss and negotiating on your behalf. We'll even conduct carrier claims reviews to ensure that you're getting the best possible protection.
Workers' Compensation Savings
One vital component of risk management for your company may be an audit of your workers' compensation coverage. When it comes to insurance expenses, workers' compensation often makes up the bulk of the cost. NXG Insurance Group believes that its clients shouldn't overpay for this protection. At the same time, it crucial to have adequate coverage.
A workers' compensation audit is a multi-step process that involves a review of payroll classification, the classification codes and any exclusions or discounts that may apply. The resulting report may help you to achieve substantial savings while still protecting your business and your employees.
Closely Working With You and Insurance Carriers
A partnership between NXG Insurance Group, your company and your insurance carrier ensures that you get the best possible protection and service. NXG Insurance Group's risk management and risk assessment services are available to organizations of any size.
Contact us today to discover how you can minimize your exposure, reduce your expenses and still get all of the insurance coverage that you need.