Archive for January, 2010

Insurance, Risk and Valuation

January 27, 2010

This is something I simply don’t understand – insurance professionals who are reluctant to advise – just because of their Errors & Omissions exposure?  If they’re the professionals, why not use their expertise and training for their clients’ best interests?

Are they afraid that their clients may see them for what some salespeople truly are?  A salesman/saleswoman and not a professional advisor!

Maybe they would prefer their clients approach us first – for Risk Management advice.  This definitely helps avoid that observation, doesn’t it?

Recently, I spoke with an insurance broker who refused to assist a client in the determination of adequate Business Interruption insurance – afraid of a loss on their E&O!  He felt that the worksheet sent to a client should be completed with their accountant but mentioned that he doesn’t know any accountants who feel comfortable completing these insurance forms.  I then offered our firm’s experience and services to the broker.

We’ll be happy to review Financial Statements and Contracts/Leases/Franchise Agreements and advise on issues like Business Interruption losses, Employee Dishonesty limits, Trade Credit Insurance, etc.  We can assist in working on “replacement cost” determination/evaluation so that you are adequately insured!

Have you ever experienced a loss where you felt you were protected and found out otherwise?  Let your CFO, Controller, Accountant and Lawyer know about us!

We are very pleased to work alongside your other professional advisors and work with you and for you – not against you.

Our costs are always very reasonable.  Why not contact us now for further information?

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Commercial Loan Agreement Compliance – Lenders, are you concerned or not?

January 14, 2010

We’re really upbeat on our thoughts for 2010!

It seems like the new decade has arrived with a huge bang after the whimper of 2009 left with such a bad memory.

We have added 2 new Commercial Lenders, including another bank (3 of Canada’s “Big 5” Chartered Banks are using our firm’s services) and we have already exceeded January’s 2009 Loan Review volume in the first half of January, 2010!  WOW – now that is a terrific start to a new decade, isn’t it?

Who else is lending Commercially and who needs outsourcing of Borrower Loan Agreement Compliance? I can give many important reasons for considering outsourcing this task, as opposed to trying to perform an adequate job in-house, but will not do that now.

Why not, simply, leave it to the experts to ensure that your Borrowers meet the terms of their Loan Agreements when they obtain Property/Casualty insurance? Whether you’re in Canada or the USA, outsourcing to reduce your firm’s own risk while knowing that experts in the insurance and risk management field can be relied upon to protect your firm’s balance sheet should be paramount in your decision-making.  That makes us your answer!

As your loan institution cannot be expected to have the knowledge of insurance professionals, why would you not consider allowing a third-party provider that has this expertise to work with you?  You are the experts in Lending, Commercially, and rely on Attorneys to provide legal assistance.  Is this any different from outsourcing insurance documentation skills to those who know the industry?

I look forward to your feedback and have a prosperous, healthy and happy 2010!