Many companies have been trained by the insurance brokerage community to focus on traditional approaches to insurable issues.
But we recognize that for most of our clients, the greatest risks their companies face are often times not dealt with by purchasing an insurance policy. There is no policy a construction company can buy to prevent an economic downturn. There is not policy a company can purchase if they don’t effectively plan for the succession of the business.
For us to be effective at leading our clients to a higher level of performance, we need to address everything - both the insurable and uninsurable.
Large public companies have recognized the importance of broadening their definition of risk as evidenced by the formation of Enterprise Risk teams and communicating this to shareholders. But for those businesses with complex needs and limited resources who can’t do this internally, we need to assist with the responsibility of preparing our clients for what lies ahead.
Many of the economic, political, succession and demographic risks we address are not issues that are fixed by implementing a program or sending an email to your employees. These instead are major issues which business leaders need to evaluate when making strategic decisions that will impact the business in the years to come.
Risk Management is reactive. Risk Advisory means looking ahead to understand what issues are in the future and not just in front of you today so you can effectively prepare for tomorrow.