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|Risk Comes in All Forms|
Risk comes in all forms. How do you protect what matters most?
According to the co-founder of LinkedIn, Reid Hoffman, “Everything in life has some risk. What you need to do is navigate it.” So when it comes to risk, how do you decide whether to transfer it, mitigate it or avoid it altogether? With the help of Arthur Hall Insurance.
After 50 years of serving the needs of thousands of businesses, professionals and families, Arthur Hall Insurance has attained a level of service not achieved by many insurance brokers. The firm is more than your insurance agent, it is your professional risk advisor. What does that encompass? It means going beyond simply offering insurance quotes, and providing a deeper level of service – one that is highly personalized, consultative and based on a thorough understanding of the risks you face.
“The greatest service we provide our clients is definitely our comprehensive Risk Management Process,” says Arthur Hall Insurance President James S. Denham, CPCU, CIC. “That’s where we determine all the risks our business and personal clients are encountering. Sometimes these risks are clear to see. But quite often, we uncover risks a client wasn’t aware of or did not fully appreciate.”
One example of this involved a risk assessment conducted for a contractor that maintained multiple locations for its payroll, vehicle garaging and workers’ compensation. Not only was the tracking of these various locations an administrative challenge, but Arthur Hall Insurance revealed that each location also impacted the cost of insurance.
“After we reviewed the rating worksheets and gained a better understanding of how the company operated,” explains Denham, “we were able to negotiate with the underwriter a single location to be used for all but one of the policies, and just two for the workers’ compensation coverage. This created a several thousand dollar premium savings for our client, and stabilized not only the insurance program but also the administrative headaches they were experiencing before we made these changes.”
The Arthur Hall Insurance Risk Management Process begins with an in-person, in-depth analysis to determine the extent of your exposures and the adequacy of your current coverage. Based on this, a strategic plan is created with recommendations for filling in the gaps in your coverage, or reducing the redundancies, as well as solutions for limiting or avoiding your exposures.
Choosing your insurance carrier is the next step. Arthur Hall Insurance is known for its relationships with the nation’s leading carriers to align your pricing and coverage needs with the most appropriate provider. Once all recommendations are approved, the solutions are implemented, the final policy is reviewed and all services are delivered based on a written service timeline.
Whether you are a business, a nonprofit organization, a family or an individual, your life is filled with risks that a professional risk advisor like Arthur Hall Insurance can advise you on. The mistake some make is asking for an insurance quote first, instead of asking for a thorough risk assessment.
“Our business really is all about risk,” says Denham, “and I think the people who understand that are the ones who are best served. We want to have long-term partnerships with clients. We want to become a trusted consultant that businesses and families turn to throughout the years when new situations or questions arise. For 50 years, we’ve been providing highly proactive, personalized service. The kind you don’t see much of these days. And I believe that’s something clients really value.”
The company’s focus on risk management is just one of the key ways in which the firm has evolved since its founding. Other milestones have included expanding its regional footprint to include offices in Delaware and New Jersey, and making major investments in facilities, talent and practice specialties, such as technology, life sciences, nonprofit organizations and customized personal insurance programs.