How effective is your insurance program? This question is answered by completing a Total Cost of Risk analysis, at which time the answer will be qualitative. A + B + C = Total Cost of Insurance. What is TCOR? The Total Cost of Risk, or “TCOR,” equips business owners with tools to analyze how their…
It is common for business owners to feel frustrated by insurance premiums consistently on the rise. As insurance brokers, we hear the frustrations daily. But in response, we ask, “Did insurance rates change, or has your business grown?” The three operational factors that impact the price of insurance are: Gross sales Payroll Assets, including fleet,…
How often do you find yourself wasting time dealing with unexpected emergencies that take you away from what you do best? Time is the only thing we cannot get back. Unexpected emergencies often result in: Loss of production Loss of sales Overtime Project delays or missed deadlines Turnover, rehiring, re-training These are some examples of…
How Do You Measure the Efforts of Your Safety Program? On a yearly basis, a business should evaluate the Direct and Indirect Costs of their insurance program, along with their Safety Investment. These three categories make up the total cost of insurance. Safety investments include not only costs of PPE (personal protective equipment), but also…