Other Services We Offer
With an intimate knowledge of the insurance market and a commitment to continual education and learning, we are driven to assure your financial security, as well as that of your staff, property, equipment and finances. Our philosophy is about managing your risk today for tomorrow. Our team is committed to meeting the needs of our clients and our strategies are designed to provide the most secure insurance coverage.
With an intimate knowledge of the insurance market and a commitment to continual education and learning, we are driven to assure your financial security, as well as that of your staff, property, equipment and finances. One of Australia’s leading insurance brokers for over 40 years, we have extensive know-how in the development of insurance solutions and a highly skilled team.
Sound advice and proper precautions prevent our clients from being disappointed when it comes to making claims. We install the correct procedures, allowing claims to be furnished to the insurer without delay.
As CEOs, directors and managers increasingly become held personally accountable for losses, they need a strategy that allows them to understand the implications and risks associated with every decision they make. Individuals and businesses face a number of potentially harmful risks in day-to-day life; many of which are unknown until financial losses are actually suffered. Through our tailored Risk Management Processes, we can identify these risks for our clients and apply the appropriate precautionary treatments to prevent financial losses.
Risk Management process is an integral part of our management duties. We advise our clients using this process – the larger the client, the more sophisticated their risk management needs become.
Insurance purchase is a great option for protecting yourself from financial loss but it won’t provide coverage against all risks. When treating risks for our clients, we look at a number of different treatment options. We analyse the risk tolerance levels of individuals, management teams and organisations and provide the necessary infrastructure and expertise to ensure risk management is minimised.
Who needs Risk Management?
Basically any organisation, large or small, private or public, can benefit from the implementation of risk management strategies.
Benefits of Risk Management
- More effective strategic planning
- Better cost control
- Enhancing shareholder value by minimising losses and maximising opportunities
- Increased knowledge and understanding of exposure to risk
- A systematic, well-informed and thorough method of decision making
- Increased preparedness for outside review
- Minimised disruptions
- Better utilisation of resources
- Strengthening culture for continued improvement
- Creating a best practice and quality organisation.
Protect Yourself & Your Organisation
As CEOs, directors and managers are increasingly held personally accountable for losses, they need a strategy that allows them to understand the implications and risks associated with every decision they make. Without a Risk Management policy in place, accountability may be a lucky dip.
How to Implement a Risk Management Strategy
Standards Australia has developed the world’s first Risk Management Standard, AS/NZS 4360:1999, Risk Management. This outlines the generic procedures and processes, which need to be implemented for effective Risk Management. Risk Management is the management of pure or non-speculative risks to which the assets, personnel and income of a business are exposed. Losses falling within the definition will usually occur as a result of some physical act or omission relative to the company.
Risk Management is a process that involves
- Identifying risk
- Analysing risk
- Quantifying the likelihood and severity of risk
- Identifying and quantifying a means of risk elimination or reduction
- Re-evaluating the risk likelihood and severity
- Choosing to retain or transfer risk
- Continually evaluating and monitoring
Modern concepts of risk management emphasise the wide scope of cost effective risk reduction and transfer. They typically look at the casual effect and influence of risk management practices on the various components that makeup the business organisation.
Change Management and Total Quality Management are the ‘buzz’ words for today’s managers. Risk management is a part of these processes and works to conserve the earning power and assets of a business. We employ trained professionals in risk management as part of our overall service to clients.
“Good risk management systems puts in place plans that allow managers to recognise risks and establish plans to meet an organisations’ changing needs” Andrew Logan B.Bus FAII FNIBA QPIB
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Logan Insurance Brokers | ABN 29 001 033 790 | AFSL 233 789