Recently, unbundled risk control programs have become very popular due to their ability to provide additional options for insurance. In a traditional bundled program, insurance companies evaluate risks and then provide loss control measures to the site.
But with unbundled programs, sites receive customized loss control options. In these programs, risk handling and risk funding are separate. A property or some other entity requiring loss protection can complete their risk assessment on their own and then purchase services from any vendor that they choose, not just vendors that are associated with the primary fronting insurer.
This allows for more flexibility and freedom in 'shopping around' for the right service, and lets some entities break away from providers. For providers, this increases the potential ways that they can offer protection and could have a direct impact on their ability to create custom insurance packages.
The benefits associated with unbundled risk can vary depending upon the situation, but may include things like:
- Lower Costs
- More flexibility in coverage
- Different policies and services for different needs
- And More
This flexibility benefits property owners, brokers, and even insurance companies in many cases since more flexibility benefits everyone involved.
But in order to get unbundled risk policies, you must first ensure that the property qualifies and take a close look at its overall measure of risk. We offer customized loss control services that are focused on unbundling. We examine every aspect of a property and take a close look at what may be contributing to the greatest risks while diligently looking for extenuating circumstances and satisfactory alternatives. Then, we present a detailed report that breaks down the entire property's risks while also looking at what may ameliorate or diminish the loss potential. These reports provide an unbundled service to provide an unbiased opinion of the risk that is devoid of special interests' input.