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Why don't most companies employ risk management strategies versus buying insurance?
- Insurance is easy
- Smaller companies lack the resources to evaluate, structure and finance risk
- Adverse/unfavorable past experience
- Lack of familiarity with risk financing alternatives
Why don't you hear more about alternative first financing methods?
- Many insurance brokers lack the expertise, knowledge and staff to effectively offer/manage more complex risk financing solutions
- Insurance companies make less money
- Broker commissions are typically lower on alternative risk solutions
How does risk financing help my company?
- Allows more control over long-term pricing
- Allows you to be more competitive
- Allows you to predict your costs
- Typically improves results as you have “skin in the game”
- Frees up capital to invest in safety and loss control
- Can provide additional profit source and investment income potential
Don't alternative risk solutions require having insurance expertise on staff?
- No, Dillon Risk Management serves as your staff, providing all the resources necessary to successfully implement a risk financing alternative other than traditional insurance.