Business Insurance Update from CNC Insurance Assoc. "Risk Management Lite " 4-15-14

Commercial insurance agents and brokers, are continually trying new ways to bring value to their clients.
Many offer risk management services as a value proposition. However after years of studying the science of risk management and enterprise risk management, it occurs to me that it is extremely difficult for agents to provide full risk management services on commission only.  Most of the time it is only risk management "lite". If agents and brokers really provide the needed risk services to businesses only being compensated by commission then they could not make a profit in the long term.  Don't get me wrong even risk management "lite" is a big help to business owners trying to reduce risk in their business.  However, agents and brokers need to make their clients understand that they can only do so much on what they get paid with commission.  I predict that more and more will offer greater risk management services  for  a fee in order to do a better job with risk management and stay profitable. Time will tell..... Until next time be careful out there and know your risks.

G. Kevin Nemith, President CNC Insurance Assoc. & The Small Business Insurance Center
Serving DE, PA, MD, NJ, and VA.
www.cncinsurance.com
www.bizinsurancetv.org

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