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Enterprise Risk Management

Enterprise Risk Management, as defined by RIMS (The Risk Management Society), is a strategic business discipline that supports the achievement of an organization’s objectives by addressing the full spectrum of its risk and managing the combined impact of those risks as an interrelated risk portfolio.  At Dillon Risk Management we incorporate many of these same practices into our routine approach for new and existing customers.View Article »

Hard Market / Soft Market Cycles

We are often asked about the Hard Market, Soft Market cycles by trucking companies.  The global brokers put out white papers annually on the subject, but this is largely inaccurate for transportation insurance.  I have long said that truck insurance is its own market.  The long tail of loss resulting from the severity side of auto liability litigation keeps many, less savvy, non-specialty insurers in the market too long.View Article »

Our Point of View

Most trucking companies share the same risk management strategy, they buy insurance. These are typically guaranteed cost policies that provide peace of mind because the buyer knows that the most it can cost to manage losses is the policy premium. At the end of the policy period that same buyer often has two frustrating realizations.View Article »

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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.

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