Alternative Risk Solutions

If you are in the market for unique coverage, alternative risk solutions can provide extra protection, including what's left out by standard commercial insurance.

Alternative Risk Solutions
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Please note: coverage cannot be bound or altered online. A service representative will need to contact you to finalize your request.

What You Need to Know About Alternative Risk Solutions

Alternative risk transfer (ART) is a new market with added insurance benefits. It allows companies to purchase insurance coverage and transfer risk through customized plans.

Popular forms of alternative risk solutions include Self-Insurance, Risk Retention Groups, Insurance Pools, and risk transfer from owned subsidiary companies to the parent company. We will help you understand all the alternative solutions available for your business. With so many risks, it is important to purchase coverage for crucial liabilities that might create a significant or catastrophic lost.

We can help find the right solution for your company

With so many loss exposures that a company may face, buying a standard insurance policy may not be the best solution for use of your finances. An alternative risk solution may be a better use of those finances, due to frequency and severity of losses. A better solution maybe using an alternative risk solution that can cover loss exposure without increasing annual premiums. For instance, self-insurance plans allow your company to bear some of the financial risk without depending on an insurance policy. However, a self-insurance program isn’t for everybody and your advisor should work with you on the best solution for your company.

Pooling is another popular solution if you seek lower premiums. It involves joining other companies for a bigger buying power capable of bargaining lower premiums from major insurers. Companies can also come together and form their own insurance company (Risk Retention Groups) operated under state guidelines. There are several alternative risk solutions available. Our advisors will help you examine all alternative insurance solutions to identify those with quantifiable benefits for your business. We will also advise you of emerging risk solutions and other dynamics within the communications and technology sectors.