Risk management for your business is about more than purchasing insurance. Proper risk management includes identifying risks, analyzing them, evaluating and prioritizing your risks, deciding how to handle each risk, then monitoring your risk management plan.

Covering your business properly involves more than just quoting a policy. Properly covering your business requires understanding what your business does and the unique exposures that your business encounters.

We concentrate on small and medium sized businesses to provide you with custom coverage. Our commercial team at Choice Insurance Agency will review your business from top to bottom. We will provide a summary of the exposures that your business must handle and we will make a series of recommendations on how to handle each risk.

For example, everyone understands that liability coverage is a must for any business in the event that a customer or employee is accidentally injured at your establishment. But how many business owners consider loss of income if a storm knocks out their power for a week or customers are unable to patronize them because of deep snow or flooding? Not only do you need to protect yourself from physical damage to your building, you need to consider how much money you could lose from not being open.

Our 16-point Risk Review provides a comprehensive risk management plan with recommendations on handling each risk through:

  • Risk Reduction and Avoidance—We can help you reduce risks by reviewing your hiring practices, training manual, employee manual, and other corporate policies. Our risk management team will provide specialized training to help reduce risks and avoid claims. The lowest cost claim is the one that never happens. Best of all, most risk-reduction techniques are low cost or free, and they help you build a better business.
  • Risk Retention — Some risks you will simply acknowledge and retain, either because you have no choice, the impact is minor, or the cost to handle it any other way is not economical.
  • Risk Transfer — Risk transfer is the final means of managing a risk by transferring the risk to an insurance company or other third party. Our goal is to provide your business with the right coverage at the best price possible.