Solutions

 

Insurance Program Analysis
Bostonian Group thoroughly reviews your current insurance program and evaluates the adequacy of your coverage, structure, terms, conditions and cost.

Enterprise/Catastrophic Risk Identification and Assessment
A complete Enterprise Risk analysis uncovered all business and operational risks that are inherent to your business and an identification of those that can devastate your business. BGPC’s risk assessments are comprehensive and holistic.  Our methodology provides a structured, disciplined approach to identifying and managing risk and allows our clients to better match and align their risks with their strategies, goals and objectives. The three elements of risk assessment are:

Risk Identification: What is at risk and from what sources?
Risk Measurement: Consequence and likelihood of risk?
Risk Prioritization: Most costly/disruptive risks and how to manage them?

 

Training and Review: We will provide a seminar for contract managers, purchasing managers, insurance buyers and any other key employees who deal with your contracts on a regular basis.  We will examine common pitfalls of contracts and provide recommendations on how to avoid them.

Contractual Manual: We prepare a reference guide for your organization for use in contracts administration.  In the Manual, we discuss various forms of indemnification, suggested coverage to require from various vendors, contractors and business partners.  We provide sample language to assist you in negotiating contracts to ensure that you interests are optimally protected.

 

Alternative Risk and Captive Feasibility Analysis
Evaluation of the appropriateness of various “risk funding” alternatives. This process includes a feasibility study of such alternatives as captives, self-insurance and high deductible/large retention programs. The fixed costs and typical flow of funds under each alternative are identified.

Workers' Compensation Studies
Assists in determining whether you should consider a large deductible, incurred/paid loss retro or self-insurance. In addition, we evaluate your losses and identify any obvious trends - and measure the effect on your current premium (including Experience Mod and ARAP review).

Mergers, Acquisitions, and Divestitures Due Diligence
An assessment of key risk issues, loss experience, exposures to loss, contractual language, adequacy of prior and existing insurance with respect to the acquisition.

Construction/OCIP/CCIP Consulting
For large construction projects we review the construction contracts and documents, including the hold harmless, indemnification and waiver of subrogation language, as well as the insurance requirements. We also assist in the selection and monitoring of Owners Controlled Insurance Program (OCIP) or Contractors Controlled Insurance Program (CCIP).

Business Continuity Planning
BCP is a collection of resources, actions, procedures, and information that is developed, tested, and held in readiness for use in protecting life, assets and reputation and in restoring operations in the event of an emergency, crisis or other disruption of operations. 

Claims Audits
We perform audits of insurers, third party administrators and self-administered claims programs.  We make recommendations and develop action plans for improved claims service and handling.  We can also assist in the negotiation of adjustments to collateral (LCs) with insurers.

Managed Care WC Programs
Assistance in reducing workers compensation claims costs and Experience Modification Factors. We evaluate and monitor the treatment of your occupational injury claims by the Insurer or TPA providing the services.  We assess the following: timeliness of the contact with the injured worker; three point contacts (employee, employer, case manager); the case manager’s involvement and follow-up; the monitoring of the diagnosis/prognosis and medical treatment; the use of a managed care network of providers that specialize in muscular-skeletal claims, understand workers compensation and provide discounted medical fees and the effectiveness of return-to-work programs.

Additional Risk Management Consulting Services
We assist with strategic risk management planning; risk management audits; risk management manuals; contract analysis; and even the design and staffing of your risk management department when appropriate.