Service to be provided:

Pinnacle will identify and evaluate your organization's exposures to fortuitous loss. Once these exposures have been identified and analyzed, Pinnacle will review your in-force business risk insurance program to determine its efficiency in design, adequacy in regard to coverage terms and limits being maintained, competitive premiums being charged in light of the exposures inherent within your organization and past loss experience, and overall effectiveness. In addition the financial stability of the insurers providing the coverage will also be reviewed.

Gaps and/or inconsistencies will be identified and recommendations set forth that will allow you to amend your insurance program in order for it to provide for greater balance sheet protection. Should an alternative approach appear to be more appropriate, Pinnacle will set forth a conceptual design as well as formulate an effective strategy for implementation.

Why should such a service be considered?

Companies are dynamic and as they enter into new businesses or develop new products and services, their risk profile changes. At the same time the plaintiff's bar is continuously creating new theories of liability and the courts more often are supporting these theories. In addition, the insurance marketplace is an ever-changing market in regard to coverage, cost and services being offered by insurers.

It is due to these changes, that an insurance risk management program should be reviewed regularly to determine if the program designed and put in place several years ago in response to the company's risk profile at that point in time, is as broad as it need be in order to respond to the companies' risk profile of today.

Pinnacle believes, and our clients agree, that an independent third-party review of your insurance risk management program will serve to identify gaps and/or inconsistencies in the overall program, or validate that the program in place is both adequate and appropriate for your organization's present day risk profile. In either case, having such a review made is considered prudent management practices, the results of which should be brought to the attention of the Board.