Reducing Unwanted Expenses in 2023 - Three Critical Questions

Did you know most businesses have a large sum of unbudgeted expenses that erode their profitability? These expenses are directly tied to risk management programs and have little to do with premiums, coverages, or alternate funding mechanisms.

When you have an incident, there are costs that your organization incurs beyond the out-of-pocket expenses of the claim.

For example, lost productivity, brand damage, rehiring, and training. Insurance carriers don’t cover these critical issues. You do. From your bottom line.

To reduce Financial Leakage, you need to measure the true costs of your risk management program beyond your premiums and coverages.

To start, here are Three Critical Questions to ask your broker:

  • What is the amount of Financial Leakage we’ve absorbed this year?
  • What impacts should we expect inside our cost structure next year?
  • What risk management projects will you implement to reduce these costs?

If you cannot get answers to these questions from your broker, consider looking for an organization with better capabilities and who understands business.

As a Certified Analytic Broker, we are uniquely qualified to measure your risk management program and provide you with a plan to reduce your costs and Financial Leakage.

Best of all, our consultation is complimentary with no obligations.

We’re here to help you develop a measurable plan to help you control unwanted costs to improve your business performance in 2023 and beyond.

Contact us today for a no-obligation assessment of your program. We’ll be happy to provide you with some insight into your business and how we can deliver quantifiable results.

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