Insurance Policies and Coverage:
Compile a schedule of all insurance policies or binders, including types (medical, workers' compensation, disability, automobile, general liability, etc.), with deductibles, coverage limits, and significant terms.
Indicate the name and address of all insurance agents, brokers, and companies associated with these policies.
Claims and Loss History:
Prepare a schedule of insurance claims and provide a summary of the loss history for the relevant period.
Analyze premium payments and detail any cancellations or denials of insurance during this period.
Risk Management and Mitigation:
Summarize self-insurance programs or other risk retention strategies currently in place.
Compile a schedule of threatened or potential claims.
Determine if there is a designated risk management officer and outline their job description
Assess whether the company has an overall risk mitigation plan and how regularly it is updated.
Insurance Review and Litigation:
Review all corporate insurance policies, noting whether terms are for "claims made" or "claims incurred," and document the amounts of deductibles.
Investigate if aggregate insurance amounts have been approached or exceeded and any history of substantial premium adjustments.
Evaluate the extent to which the company self-insures its activities and identify any uninsured risks that may have been overlooked or ignored.
Specialized Insurance and Financial Analysis:
Review any key-man insurance policies and conduct a present value calculation of such policies.
Examine contractor’s, professionals, and site-specific liability insurance, including a description of claims history.