Service
Risk & Insurance Strategy
Risk registers, cover adequacy reviews and claims support — so that the losses which would genuinely damage the balance sheet are the ones you are actually insured against.
Most businesses we review are insured, and most are insured for the wrong things. Cover was arranged years ago, renewed on autopilot, and never revisited against how the business actually changed. Sums insured drift out of date. New exposures — a new site, a new contract, a new liability — never make it onto the schedule.
This is an accountant’s view of risk, not a broker’s. We do not sell insurance and we earn no commission on any policy. Our role is to identify what would actually hurt you, establish whether current arrangements respond to it, and give you the analysis to take to your broker or insurer.
What the engagement covers
- Risk register development — identifying exposures, rating them by likelihood and impact, and assigning ownership
- Cover adequacy review against the risks identified, including gaps and unnecessary duplication
- Sums insured review, including reinstatement values in a multi-currency environment where historic figures understate replacement cost
- Business interruption exposure analysis and indemnity period assessment
- Review of contractual insurance obligations under leases, loan agreements and customer contracts
- Internal control review where controls are the primary mitigation rather than insurance
- Claims support — quantification, documentation and preparation of the claim file
- Post-loss review of what the claim experience revealed about the arrangements
How we approach it
Identify what would actually threaten the business
Not a generic risk list. The specific events — loss of a key site, a debtor concentration failing, a fire, a fraud, a currency movement — that would materially damage this business.
Separate what should be insured from what should be controlled
Insurance is one treatment among several, and it is often the wrong one. Some exposures are cheaper to control, avoid or absorb. Paying premiums for a risk you could have designed out is a poor trade.
Test the cover against the exposure
We read the policy schedules against the risk register and the financial statements. Under-insurance, outdated sums insured, exclusions that bite on your actual operations, and indemnity periods too short for realistic recovery are the recurring findings.
Support the claim when it happens
Claims are settled on documentation. Businesses that can produce a quantified, supported claim file recover more, and faster, than those assembling one under pressure after a loss.
How this fits with your other advisers
- We do not place insurance, hold an insurance licence, or receive commission from insurers or brokers
- Our output is analysis you take to your broker or insurer, not a product recommendation
- Where regulated advice is required, we work alongside your licensed broker rather than substituting for them
- Risk registers are built to support board reporting and governance obligations as well as insurance decisions
Common questions
No. We hold no insurance licence and take no commission from insurers or brokers. That independence is the point of the exercise — our analysis is not connected to what any product pays.
At least annually, and immediately after any material change — a new site, significant capital expenditure, a new contract with its own insurance requirements. In a multi-currency environment historic sums insured become inadequate faster than most businesses expect.
We can help quantify and document the loss and prepare the claim file. Where the dispute concerns policy interpretation or is heading to a formal process, that is a matter for your legal advisers, and we work alongside them.
Need help with risk & insurance strategy?
Tell us where you currently stand. We will come back with a scope, a fee basis and an honest view of whether we are the right firm for it.