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1

50 W. Lancaster Ave., Ardmore, PA 19003 610-896-6435

ATM Safety Deposit Boxes Coin Machine  Bank Branch

2

5000 Pennell Road, Aston, PA 19014 610-364-7800

ATM Safety Deposit Boxes  Bank Branch

3

135 City Ave., Bala Cynwyd, PA 19004 610-664-6293

ATM Safety Deposit Boxes  Bank Branch

4

1651 Blackwood Clementon Rd., Blackwood, NJ 08012 856-262-8811

ATM Safety Deposit Boxes  Bank Branch

5

599 Skippack Pike, Blue Bell, PA 19422 215-646-9102

ATM Safety Deposit Boxes Coin Machine  Bank Branch

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Protect Your Business

Minimize Your Risk Exposure

Schedule a Call

The Risk Management Process

1

Identify and Analyze Exposures to Risk

2

Examine Feasible Risk Management Techniques to Address Exposure

3

Select the Best Risk Management Techniques

4

Implement the Chosen Techniques

5

Monitor the Results

Step 1

Identify and Analyze Exposures to Risk
  • Collect data – detailed survey/audit
  • Analyze frequency and severity of exposure

Step 2

Examine Feasible Risk Management Techniques to Address Exposure
  • Controls
    • Avoidance
    • Prevention
    • Reduction
    • Separation or Diversification
    • Loss Control Transfer
  • Financing
    • Retention
    • Transfer to Commercial Insurer

Step 3

Select the Best Risk Management Techniques
  • Consider the size of the organization
  • Consider the organization’s ability to absorb loss and forecast future losses accurately, and its willingness to accept risk
  • Don’t risk more than you can afford to lose, and don’t spend a lot for a little protection.

Step 4

Implement the Chosen Techniques
  • Establish retention programs
  • Formulate and implement loss control programs
  • Purchase insurance and outside vendor services
    • Prepare specifications
    • Market through all appropriate sources
    • Analyze proposals

Step 5

Monitor the Results
  • Maintain complete policy files
  • Supervise the endorsements
  • Periodically review the status of the program
  • Manage claims
    • Review claim reporting and handling
    • Assist in preparation and filing
    • Monitor serious cases
    • Review reserve analysis
    • Implement return-to-work and managed-care programs
  • Coordinate loss control/prevention services
    • Develop safety policy statements
    • Organize Safety Committee
    • Evaluate safety program
    • Create material handling programs
    • Examine ergonomics
    • Initiate industrial hygiene studies

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BMT Insurance Advisor today!

Latest Insights

Insuring a residential condominium unit can be complicated. If you own a condo and sustain damage, there are two insurance policies that will respond: your own condo unit owner’s policy (or HO-6), and the association master policy. In this week’s newsletter, we discuss what each policy covers and offer insight into selecting better-than-basic coverage options for your HO-6 policy.

Thinking about or planning for a disaster – fire, theft, flood, etc. – is not pleasant. However, addressing those “what if” scenarios before they occur, when you are not under tremendous stress, will be comforting to you and all those affected. Having verifiable documentation of your ownership and worth of your valuables – works of art, jewelry, furniture, and recreational equipment – will help you navigate a potentially arduous claims process.

All company managers, not-for-profit and for-profit, know they need insurance. They don’t always know why, and they don’t always understand exactly how it works, but they know there are funders, landlords, banks, and others who require that they have it.