Risk Management Services
Key activities performed by the Risk Management
Services department (RMS) include:
Click here for a sample RMS Service Agreement between RMS, Contractor and Broker.
- Review Owner contracts and analyze the risk allocation in the document
and work with the Contractor in identifying the risks and providing
an appropriate risk charge to be included in the bid.
- Conduct on-site subcontractor compliance audits. This involves
the review of the subcontract document, the actual certificates of
insurance, the contract administration system and a report to management
with recommendations.
Provide up to date financial information about the Contractors participation
in the ACIG Program. This would include the analysis of shareholder
equity, retro calculations and loss detail.
- Provide training and education to the Contractors staff in the
areas of risk management, estimating, project delivery methods and
their liability exposure, i.e. Design/Build, Construction Management,
Turnkey (Design/Build, Finance and Operate).
- Manage all of the policy documents. Binders, certificates, policies,
endorsements, policy summaries, billings, audits, retro calculations,
and statistical filings.
- Collect underwriting data necessary to prepare annual renewal proposal.
This includes collecting updated previous carrier and OCIP carrier
loss runs and updated exposure estimates (payroll, receipts, power
units, etc.). Calculation of loss rates and test experience modifiers.
- Prepare and deliver annual renewal proposal.
Click here for a sample RMS Service Agreement between RMS, Contractor and Broker.
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