Working with a Risk Control Consultant - Part 2

Part 2 

 

This is Part 2 of a two-part series on working with a risk control consultant authored by guest blogger and Westfield agent Craig Hassinger of Seibert Keck. 

 

Craig Hassinger is president of SeibertKeck Insurance, an independent agency specializing in both malpractice and property/casualty insurance. Craig has served as both a producer and chief operating officer, working with SeibertKeck employees to achieve double-digit revenue growth through a number of measures including streamlining business processes to improve products and customer service. Craig is active in a variety of organizations including the Professional Insurance Agents Association, Independent Insurance Agents Association, Wadsworth Chamber of Commerce, Leadership Medina County, United Way and Akron Children’s Hospital. Craig and his wife Suzie reside in Wadsworth with their two children, Haley and Nick.

 

 

Risk Control Consultants: What to Expect in the Assessment Process

  

Once a qualified risk control consultant has been selected and losses have been assessed, the agent and risk control consultant work with the client’s management team to determine actions to be taken.

 

Elements of Operations Control

 

To do this, the agent and the risk control representative first look at how the business’s management team controls operations. There are certain elements of control exercised in any organization:

 

· Deciding on and establishing policy and objectives.

· Clearly communicating policy and objectives to all concerned.

· Identifying actions required to carry out the policy and objectives.

· Establishing a system to record results.

· Building the results into the supervisory evaluations.

 

Integrating Risk Control With Operations Control

 

Working hand-in-hand with the risk control consultant, the agent and management team builds elements of risk control into elements of operations control in order to:

 

· Decide on and establish policy

A written management statement of policy on loss control will be provided to line supervisors explaining management’s concerns, objectives, etc.

 

· Clearly communicate the policy and objectives to all concerned

A face-to-face meeting by top management with line supervisors is encouraged, reinforcing the policy statement and clearly communicating the program so that it is understood and accepted.

 

· Identify actions required to carry out the policy

Details such as loss investigations, self-inspections, monthly reports of actions taken, reinforcement of job rules, etc., need to be included.

 

· Establish a system to record results

Keeping track of results is essential. Facts such as number and/or costs of losses by supervisor or department, and including accident costs in department profit and loss measurements, help determine success.

 

· Build the results into supervisory evaluations

Making the results of the appraisals affect the supervisor’s income – either positively or negatively (e.g. a 10% percent reduction in losses = a 5% pay raise) – is a very effective way to increase success.

 

Once all areas of risk control are in place, continuous feedback from the business’ top management team is key to loss control accountability from the entire team involved.

 

What successes can you share from working with a risk control consultant? What actions do you take to make your team accountable for loss control?

 

Learn more about Westfield’s risk control services, or evaluate your business’s risk now using the Risk Control Assessment.

 

Craig Hassinger is president of Seibert Keck Insurance in Akron, OH.

 

View Part 1 of this two-part series on working with a risk control consultant: Risk Control Consultants: What to Look For.