Risk Management and You

Risk is defined as the potential of losing something of value. It is a potential, unpredictable, and immeasurable outcome. It is the consequence of action in spite of uncertainty.  Individuals and business owners face risk daily in their business operations, in their ownership of goods and property, and in their everyday lives. Risk comes in many forms such as fire, theft, auto accident, loss of life and limb, health problems, and loss of income. Management of risk then becomes a major factor in the preservation of one’s property and well-being. Protecting oneself and one’s company is the role of a risk manager and a role that can be filled by RMC Group. RMC has an experienced team ready to help you manage your personal and commercial risks.

Risk Management is and has been a “buzz” word in the small to medium size insurance world for the past ten years. Even with the growing name recognition, most companies still have little to no knowledge on what Risk Management is and how it is implemented. Risk Management was once thought of as a toll for only the largest companies or the wealthiest individuals in society, but times are changing. Risk Management and the various sub-categories are being utilized by small to medium sized companies, as well as individuals to help protect assets, alleviate liabilities, and ensure financial stability.

RMC specializes in captive insurance management for small to medium sized commercial companies. Captive insurance has been a tool used mainly by Fortune 500 companies for well over forty years and is now used in the small to medium size marketplace. A captive insurance company is an insurance company formed to insure the risks of its parent company and its affiliates. Captive insurance comes in many forms, but RMC specializes in Single Parent and Incorporated Cell structures.

The benefits of a captive are many; a captive can provide coverage for risks unavailable commercially, protect against catastrophic events, may reduce insurance expense, and allow access to the reinsurance market. A captive allows a company to gain control over its insurance needs.  Premiums can be based on your claims experience and not that of the industry. A captive can and should be a separate profitable line of business. Additionally, RMC Group operates a Property and Casualty (P&C) agency that can provide risk management tools through commercial means to both individuals and businesses. The P&C team works hand in hand with the captive division to protect the assets and livelihood of each and every client. A free insurance portfolio review is provided to all clients enabling us to look at your risks and provide recommendations and options.

When was the last time your personal or commercial risks were assessed? Contact RMC Group today at 888.599.5553 for your current risk assessment.