Self Insurance Feasibility Studies
PBRM can review the risk profile and with the appropriate insurance loss exhibits:
- Evaluate Frequency, pure and catastrophe risk profiles.
- Establish where self insurance migh be of benefit.
- Help Business understand and set their risk appetite.
- Put forward various options for self insurance where advisable:
- Protected Cell
- Incorporated Cell
- Captive Insurer
- Determine the appropriate timeline to minimise costs associated with Self insurance vehicles and to ensure the most efficient establishment of the agreed programme.
- Identify Potential Managers and conduct Tender where applicable.
- Determine benefits of domiciles used.
- Determine the best use of Fronting Insurers and protection of the self insured vehicle to deliver comfort.
- Work with Brokers and Insurers to integrate the self insurance programme.
- Determine the timetable for the implementation of the self insurance strategy to avoid damage to the insurance programme.
- Identify the KPI’s for ensuring the programme delivers the best results and to identify any areas requiring maintenance and “repair” management.