Insurance Policy Audits
In most insurance purchases, a broker or agent assists the buyer in procuring the desired coverage. The buyer often assumes — to their detriment — that it is also the broker or agent’s responsibility to read and understand the insurance contract for them. It is only after a loss occurs that the insurance buyer learns that it is on them to understand the coverage they bought.
This is why it is important to bring in risk management experts in the early stages of the procurement process. We can work with your agent and the insurance carrier to address the myriad of terms, conditions and exclusions upfront when you purchase the policy rather than when you’re facing a loss.
In most insurance purchases, a broker or agent assists the buyer in procuring the desired coverage. The buyer often assumes — to their detriment — that it is also the broker or agent’s responsibility to read and understand the insurance contract for them. It is only after a loss occurs that the insurance buyer learns that it is on them to understand the coverage they bought.
This is why it is important to bring in risk management experts in the early stages of the procurement process. We can work with your agent and the insurance carrier to address the myriad of terms, conditions and exclusions upfront when you purchase the policy rather than when you’re facing a loss.
Gain a better understanding of your coverage
CORE Risk Services will review the insurance policy and research its placement. We itemize all issues in a worksheet format so that you can understand and explain the ramifications of each issue to your team. This also provides an organized basis to negotiate the terms and conditions with the underwriter.
The end result is enhanced coverage and the confidence of understanding what is and is not covered by the insurance policy.
CORE Risk Services will review the insurance policy and research its placement. We itemize all issues in a worksheet format so that you can understand and explain the ramifications of each issue to your team. This also provides an organized basis to negotiate the terms and conditions with the underwriter.
The end result is enhanced coverage and the confidence of understanding what is and is not covered by the insurance policy.
