A good risk management process puts business owners in control of their insurance programs, but TCOR is not just your insurance premiums and deductibles.
The most important element of any risk management program is cost control. It can be evidenced by accident prevention, claims control, litigation control and careful monitoring of the insurers and providers.
In fact, as you can see from the information below, it’s much more:
- Insurance Premium
- Taxes & Fees
- Direct Costs
- Indirect Costs
- Administrative Expenses
- Risk Control Expenses
July’s Safety Academy will explore theTotal Cost of Risk and just how it affects your company.