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

ATM Safety Deposit Boxes  Bank Branch

4

1436 Lancaster Avenue, Berwyn, PA 19312 610-581-4774

Wealth Office

5

1436 Lancaster Avenue, Berwyn, PA 19312 610-527-1881

Insurance Office

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Protect Your Business

Minimize Your Risk Exposure

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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!

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