Policy Analyzer™
Make Sure Your Insurance Portfolio is Working for You.
As one of our insurance policy enforcement services, Wood & Bender can provide you with a completely independent legal and business analysis of your organization's policy coverage and risk exposures. Because we do not broker insurance we have no stake in the recommendations made. The fee-for-service Policy Analyzer™ Report contains an objective analysis of your organization's actual coverage and will help you avoid and appropriately finance the risks your company faces. Should a loss occur, the recommendations made in your Policy Analyzer™ Report , if followed, will help you to realize maximum benefit under existing insurance policies.
A Policy Analyzer™ analysis helps better manage levels of risk and provides recommendations for plugging gaps in insurance portfolios. Many organizations use this service as a pre-litigation tool when perceived loss situations are anticipated, or as a means of planning risk distribution in critical corporate events like mergers or acquisitions.
The Policy Analyzer™ service is instrumental in guiding insurance-buying decisions, and in tailoring the extent to which insurance acts as an identified recovery source in the event of:
- Environmental suits
- Employment suits
- Errors and omissions in mergers and acquisitions
- Securities fraud claims (by shareholders directly and/or derivatively)
- Blended tort/contract claims
THE ANALYSIS
Policy Analyzer™ is a bundle of services packaged as a report. For example, we:
- Define each major area of risk exposure by company, division or operating group of the policyholder, and the scope of risk that each faces;
- Evaluate the quality and extent of coverages now in place, noting deficiencies; and
- For insurable risks, we suggest supplemental coverages and policy features. For risks that are uninsurable (or for which reasonably-priced insurance is unavailable), we suggest internal controls.
THE DELIVERABLES
Every Policy Analyzer™ engagement is a custom project delivering a combination of:
- Meetings/interviews with designated individuals responsible for managing the insurance portfolio;
- Detailed reviews of the business organization, its business model and stated insurance coverage goals;
- Analysis of risk factors specific to the policyholder and its operations;
- Technical review and analysis of existing policies and coverages; and
- Comprehensive written recommendations for tailoring the insurance portfolio and risk management program to finance and reduce exposure.