Risk Management and Insurance Services | Risk Management | Alternative Risk Finance

Today, over 50 percent of both individual and group clients address at least a portion of their exposure to risk by utilizing alternatives to insurance.  IMA has over 25 years of experience in creating and administering a wide variety of alternative risk products, including the following:

• Large Deductible and Self Insured Retention Plans
• Qualified Self-Insurance Plans
• Rent-a-Captive Insurance Companies
• Captive Insurance Companies
• Risk Retention Groups
• Risk Purchasing Groups
• Finite Risk
• All Lines Aggregate

How Does “Alternative Risk Finance” Work?

The essential components of an alternative risk finance program include the following:

• Evalulation of your risk of financial loss
• Retaining a significant portion of risk of loss instead of purchasing a full insurance program
• Capping ultimate exposure to loss by purchasing an excess or reinsurance policy that limits your responsibility for single and/or aggregate losses
• “Unbundling” loss prevention, claim adjusting, and in some cases, underwriting, to professional firms who specialize in working with you to reduce the "variable" cost of your risk – your losses

What Are The Advantages of “Alternative Risk Finance”?

• Greater control and flexibility to manage your total cost of risk
• Greater control over all risk management functions:
  • Reduction of fixed costs for paying losses
  • Control of variable costs for paying losses – “Unbundling” of services
  • Focused loss prevention and greater cost containment services
• Reduction of your long term risk finance cost – less fluctuation