Hauser Insurance has implemented risk management into its client strategy. There are three areas that the company assesses before deciding which risk management strategy they will implement. These three areas include:
- Transactional Assessment
Hauser Insurance conducts a transactional assessment. This involves taking a close look at their client’s joint venture agreements that relate to both insurance and transactional obligations. Past purchase agreements and current purchase agreements are assessed. During the assessment, Hauser Insurance will look for any liability issues. Not only that, but there are lender insurance criteria that the client may have to comply with, and the company will determine if this applies to the client.
- Financial Assessment
Another assessment the company conducts is a financial assessment. Hauser Insurance will analyze things such as self-insured retention and claim reserve. If outstanding letters of credit apply to the client’s situation, then the company will evaluate them. They’ll also take a look at escrow deposits. Besides that, they will verify applicable insurance carriers’ financial ratings and their solvency.
- Insurance Assessment
The insurance assessment involves evaluating the insurance coverage the client currently has. Hauser will review provisions within the client’s contract, and they will identify any coverage gaps that are present. Finally, the company may recommend a new program that should be activated at the time of closing, or they may recommend revising certain programs.
Different clients have different needs. This is why Hauser performs the above three assessments. Not all clients will receive the same risk management advice.