Risk Services

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Risk Management Advisors reach out to new fund contacts to introduce themselves and to schedule a new fund contact orientation meeting. This meeting will review risk coverage, common pool-related activities and procedures (e.g., submitting claims, changing scheduled assets, etc.), and a Member portal orientation and demonstration. (Click here for the new fund contact/Member Portal training PowerPoint presentation.)

Risk Management Advisors can help with individual visits to discuss the following risk services:

Exposure Review:

Comprehensive analysis to assess a Member’s potential risks and liabilities, which is crucial for underwriting and risk management within a risk pool. 

Coverage Review:

A thorough examination of a Member's coverage selections to ensure coverage adequately protects the Member's assets. Review involves assessing coverage terms, conditions, limits, deductibles, and exclusions to ensure alignment with the Member's current needs and risk profile. 

Contractual Risk Transfer:

Contractual Risk Transfer is one of the most overlooked perils. Risk Services can review the insurance and risk management portions of contracts to ensure that the member is not inadvertently accepting a contractor’s business risks.

Coverage-Based Risk Transfer:

Assess options for transferring potential financial loss from the Member to the Pool. In exchange for assuming this risk, the Pool charges a contribution for participating in the pool.

Loss Trend Analysis:

Systematic examination of historical loss data to identify patterns, trends, and potential future loss scenarios. 

Audit Review:

Review the annual workers’ compensation audit results with members. Risk Management Advisors can determine if a large additional contribution is likely given the relationship between the audit results and the payroll estimate for the current year. 

Benchmarking: 

Risk Services can provide benchmark comparison data for a member. While the benchmarked entities are anonymous in the benchmark report, they are selected based on their similarity to inquiring member in a variety of characteristics such as location, budget/revenue, exposures, etc.

Cyber Liability: 

The Pool's Cyber Squad consists of two dedicated team members who can assist with risk assessment, best practices, policy and response plan review and development, training, and much more. Email cybersquad@tmlirp.org and/or visit our Cyber Liability page to learn more!