The Transfer of Risk
Insurance, the ultimate transfer of risk mechanism ever invented has been thought of as a necessary evil ever since the concept was conceived way back in the 3rd century BC when Chinese merchants traveling dangerous waters would place their valuables in different vessels to limit their risk of loss. Fast forward 18 centuries or so to the great London fires in 1666 that summarily destroyed 13,200 homes & you have the evolution of our modern system of risk transfer.
At Deerfield Advisors, we use insurance only as a last resort. When all other methods of risk reduction or elimination are exhausted, then & only then we think about the strategic & efficient use of insurance to protect our clients from loss. The key is to find the perfect balance so that you’re not over insured or under insured. The optimal price/coverage combination. Insurance is a simple concept broadly speaking, but can be quite tricky as one considers the insurance contract language & the often difficult to interpret meanings it conveys. That’s where we come in, not only do we shop, manage, & recommend proper coverages, we can help you understand the insurance policy itself because we can make it make sense to you. This enables you to rest easy, knowing you are back in control because you have the knowledge & you know what they say about knowledge….. power, client power. We think it’s a great value proposition. After all, if you’ve got to have insurance , you might as well get something for it.
Insurance Coverage Types We Use to Protect Our Clients from Risk of Loss
INSURANCE ADVISORY, PLACEMENT, & MANAGEMENT
Risk Transfer Through Insurance
If risk transfer through insurance is a strategy our clients choose, we start the process of advising on what the best insurance coverages are needed to accomplish the goal, then approach or shop the markets, place the decided on coverage , & then manage the insurance program all the way up through to the next renewal.
It all starts with Advisory. We determine what the optimum combination of insurance coverages should be by obtaining a thorough understanding of your business through personal onsite visits & most likely several fact finding conversations.
All most clients want is a good deal; that’s why when it’s time to shop for insurance, it’s nice to know you have a competent team in your corner doing the heavy lifting. Like gathering, organizing, & evaluating competitive quotes from the insurance markets. Our goal as brokers is always to make sure you are getting the very best price/coverage combination possible at all times. One of our unique capabilities is the ability to shop any & all markets. Very few brokers have the willingness or ability to do this. What it means for you is the elimination of any limitations to achieving your goal, whether it be, price, coverage or a combination of the two. Then, once the “best of the bunch” insurance proposals have been analyzed to make sure they achieve & accomplish your coverage needs, we arrange & place that coverage, handle all the many administrative details, & begin the managing process.
Just some of the carriers we may shop & place coverage with on your behalf:
Travelers Chubb Zurich
Scottsdale The Hartford Philadelphia
Safeco AIG C N A
Metlife Progressive Republic
What with the never ending to do list our clients are burdened with, having a firm you trust to keep your Insurance program in order & running smoothly is very much appreciated. Managing a Businesses Insurance program is no small task, but at Deerfield, we are up to the challenge. As a matter of fact, we welcome it. For us, the bigger the challenge the better. The moving parts in managing a commercial Insurance program are seemingly endless. There are certificates, endorsements, premium payments, just to name a few of the many administrative necessities. But not to worry, we are specialists at it. Taking a hodge podge of dysfunctional, chaotic, & divided parts, & turning it into an orderly & well organized whole is job one for us. Like a beautiful symphony or a finely tuned engine we fashion your program to perform at its maximum potential. It’s the Deerfield way. It’s the “Deerfield Difference”!