PARACHUTE OBJECTIVE
The Corporate Protection Group’s Parachute Program helps businesses identify the potential risks to be eliminated to ensure continuity and future success.
The initial stage of the program presents the participants with a risk assessment process which enables our team to pinpoint where the business risk control requirements reside. Participants then look at how to strategically deal with these risks to eliminate them thereby diverting any potential business disruption or destruction of business equity.
At the end of the process participants have a solidly framed risk identification blueprint as well as a comprehensive protection plan. This established method of monitoring and reporting progress ensures continuity on an ongoing basis.
Outside of the program, some participants may not know how to strategically deploy the information and action steps arising from the program. Consequently we have enveloped into the program the packaging capability to ensure that the results can be communicated effectively to all interested parties. The inclusion of this element into the program helps to eliminate potential procrastination and uncertainty around positioning your business for future success.
The Corporate Protection Program is broken into 3 distinct modules.
The Critical Safeguard Review, our team takes an in-depth look at all aspects of your current protection plan to ensure your business has been safeguarded against all current and potential exposures. This stage will provide a strategy to reduce costs around existing insurance programs and provide a concrete method to place you in a proactive, risk management role.
In the second phase of the program, The Risk Identification Session walks participants through a risk assessment and disaster planning workshop where we will develop a written disaster plan blueprint customized to your unique business. We then establish the appropriate communications to handle all eventualities and identify the risks and exposures that may have been going unnoticed in the overall day-to-day operation of your business.
Our final phase of the program packages all of the information gathered from the prior phases generating the required executive level reporting and monitoring procedure that will ensure plan implementation. Additionally, we use the Corporate Protection documents to create The Insurance Marketing Strategy. This summary report will enable you to present a more attractive package to your insurer/broker and provide you with a solid case for cost reduction.
The Parachute Program facilitates a higher level of communication around your business’ risk control, business insurance solutions and long term cost reduction.
PARACHUTE STORY
Most companies spend too much on insurance.
Corporate protection is not generally viewed as a strategic planning issue and yet insurance is critical to any businesses success. Left neglected companies face rising premiums and uninsured losses hampering growth and perpetuating this vicious cycle. This is what is called “The Neglected Insurance Syndrome”.
Neglecting your insurance not only leaves your company paying higher premiums, it places you in a position of increased risk where you may suffer uninsured losses from improper or insufficient policy and corporate planning. One uninsured loss can bankrupt a business.
Proper strategic planning and investing in a relationship with an objective and independent advisor provides your company with the capability and process to prevent loss, and plan for the future.
First companies need to adopt the view that corporate protection is a key strategic planning issue. Clarifying your business plan including goals for growth and change, identifying current and potential risks, developing a written disaster plan and identifying coverage gaps, are all part of the Corporate Protection Model.
The packaging of this information for presentation to insurance companies places you in the advantageous position of showing insurance companies that you are proactively taking concrete measures to minimize risk – often resulting in significantly lowered premium costs.
Investing time and attention to working through the Corporate Protection Model is critical to the overall success of the program. Our step-by-step process allows this model to be put into action immediately, providing the protection your company requires to guard its assets, its value and its future.
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