Insurance is based on the pooling of risks, so those with good loss experiences are forced to support those with bad loss experiences. Alternatives are available to low risk organisations and we can offer a full spectrum of risk financing methods including high deductible programmes, self-insurance retention and captives.
In many cases, it gives capital market investors a more direct role in providing protection. Unique characteristics include:
Risk-financing vehicles can take on several different forms, with varying degrees of risk. As a strategic enterprise risk management process, it can blend traditional insurance and reinsurance with forms of self-funding.
Logically, the plans with the least risk, complexity and expense generally provide the least cover. The more risk retained, the greater the benefits. Complexity and administrative expenses can grow as well. Common strategies include:
Alternative risk transfer has gained popularity in part because the insured:
To find out more about our insurance capabilities click on the button below.Insurance brochure
If you are considering alternative risk transfer to provide your business with cover, contact Tracey Carson on 028 9032 9042 to discuss your self-insurance options or use our quick enquiry form.