Through our Client Advocate model, every Willis client has access to our global Casualty resources and expertise.
Quantitative Modeling and Analytical Tools
Willis' Casualty risk management systems offer significant quantitative tools and capabilities to enhance the analysis of any program. Our goal is to develop a comprehensive review that allows us to collectively make more informed decisions that are in sync with your stated risk management goals. Such capabilities include:
- Actuarial models to analyze and trend historical loss experience
- Models that assist with the selection of appropriate retentions
- Models to help determine appropriate casualty limits
- Various cash-flow models
- Peer benchmarking
The foundation of a solid risk management program is a thorough and customized policy form. As is frequently the case in the current risk management market, coverage forms vary significantly among insurers. In addition, there are many existing and emerging exposures that need to be contemplated as a program is put together: Are your operations changing? Have you acquired a new organization or divested an old one? Perhaps you have begun to manufacture or handle a new product line. We conduct analyses of the various forms used by the major markets for Primary and Excess Casualty coverages. In addition, we regularly draft manuscript coverages and wordings that are used to customize the products being purchased by our clients.
Central to our efforts is viewing your Casualty program structure in its totality. At the outset, we evaluate the interaction among your various coverages and policy forms. This holistic approach allows us to identify gaps in coverage, redundancies and, more importantly, opportunities for enhanced coverage and cost savings. Whether the solution is manuscript policy wordings, the utilization of a captive, or the purchasing of additional liability limits, our rigorous approach will bring these discussions to the forefront.
Risk Financing Program Design
Multiple risk financing options are available in today's market. Our practice works extensively with clients to determine the structures that best balance risk and reward. From pure self-insured to fully insured alternatives, multiple options can be applied to maximize the use of risk management dollars and minimize the effects of a volatile marketplace. With significant experience in the design, placement and implementation of these alternative risk financing structures, we can assist in the creation of a long-term dynamic insurance program that meets your needs.