MRS Tribal Insurance Service Model 101
As previously mentioned, there are only four insurance facilities that currently serve Indian Country. This is a very limited market space and hence, an abundance of options does not exist like main street. Therefor, being a good partner and providing Tribes with the knowledge and methodology of managing the total cost of risk is of immense value.
Our primary service goal is to assist Tribal entities with understanding, managing and controlling those areas of their organization that influence the total cost of risk. It will require implementation of a strategic risk management plan, clearly delineating goals, objectives, strategies and measured outcomes.
The cultural and financial analysis shall entail the following:
- Contract Review
- Safety Committee/Loss Control
- Hazard Assessment
- Claims Management
- Risk Tolerance Analysis
- Predictable Retained Loss (Trend Analysis)
- Tribal Laws or Statutes
- Risk Financing/ Risk Transfer (Insurance or contractual)
- Total Cost of Risk (Both tangible and intangible)
- Goal setting, monitoring, milestones
These areas of focus are a framework with which to work from. Issues and opportunities to further reduce the cost of risk will arise that will require analysis and consideration. We are not providing legal or accounting services. We recommend a thorough review by your advisors prior to implementation of the final strategic plan.
To assure the best possible service/outcomes for our clients, McCann Risk has partnered with Gallagher, National Tribal Practice, the 4th largest insurance brokerage in the world. www.ajg.com
Engagement of MRS Services
The easiest way to assess whether to engage McCann Risk Solutions is to have a dialogue about your current situation. This could be a comprehensive conversation about your entire Risk Management program or a "one off" event that you wish to discuss with someone from the industry. Please contact us if you would like to learn more.
(602) 516-4222
https://www.linkedin.com/in/dennismccann/