Esses Consulting  

Special Projects

Esses Consulting has handled numerous special projects for various entities. We have developed expertise in a number of different areas, including:

Esses P & C Risk Assessment Studies

  • Risk assessment studies provide a comprehensive analysis and evaluation of an organization’s loss exposures. Such studies incorporate discussions of risk retention levels, and point out the areas where organizations do not, or cannot, transfer risks to an insurer. Risk assessment studies offer a great tool to communicate the potential for loss to senior level management.

Loss Forecasting and Liability Accrual Studies

  • Quantifying risks is one of the first steps in developing a risk financing plan. Developing an accurate loss forecast and fully understanding the range of potential outcomes is critical. Esses offers loss forecasting services for liability and workers compensation. In addition, we provide accrual studies for self-insurance plans.

Esses Insurance Bidding Processes

  • Purchasing insurance presents a number of complications. In addition to pricing issues, there are coverage concerns, concerns over the financial stability of insurers, and concerns over servicing capabilities. An insurance bidding process helps an insured to be certain that its program is the most cost-efficient available, and that all critical issues are appropriately addressed. The Esses approach is equal and fair, helping insureds to preserve relationships with brokers, underwriters, and other industry professionals.

Esses Broker Selection Processes

  • For many risks, the insurance marketplace is extremely restricted. Open participation in an insurance bidding process can unnecessarily increase conflict among competing brokers and can actually discredit an insured’s standing in the industry. In these situations, a better approach is to conduct a broker selection process. Esses assesses the capabilities, experience, market relationships, and commitment of qualified brokers, and helps insureds to determine which broker or brokers can best represent them.

Esses Self-Insurance Studies

  • Self-insuring risks offers a number of benefits such as lower insurance premiums, greater incentive for safety and loss control, and more control over claims handling. However, self-insurance is not for everyone. Retentions under self-insurance plans are substantial. At best, a few bad losses will have significant adverse effects on an insured’s balance sheet. At worst, the consequences can be financially devastating. The process of deciding whether or not to self-insure a risk requires experience and knowledge. Esses will explore, evaluate, and compare all risk financing options available to an insured, then help the insured to make an informed, sound decision on which alternative is the best choice. We follow up this service by monitoring the results of the program and documenting savings and other achievements.

Esses Risk Management and Insurance Program Audits

  • Many organizations periodically need to have their insurance and risk management programs audited. It might be a requirement of a lender or bond indenture, or simply the desire of an organization’s management to make certain it is getting the greatest bang for its buck. Esses can draws upon its extensive industry experience to analyze a program and evaluate how well it fits an insured’s needs. We can provide an extensive written report of the details of a program, an executive summary of our findings, a list of recommendations for improvements, and any combination thereof.

Esses Claims Handling Service Audits

  • Auditing the claims practices of insurers or third-party claims administrators is critical to make certain that claims are handled in an insured’s best interest. This is especially important for large deductible programs, retro plans, and any form of self-insurance. After all, the claims adjustor is spending your money. Esses helps to ensure that claims are handled as efficiently as possible without wasting funds by paying inflated losses or excessive claims handling costs.

Esses Expert Witness Services

  • Our principal consultant, Steve Bird, offers expert witness services for cases involving insurance placement, rating, or coverage issues. Mr. Bird offers testimony to policyholders in their disputes with insurers over the adverse effects of improper claims settlements, coverage disagreements, and general insurance and risk management practices.

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Salisbury, NC 28145 US