Risk Management

Collateral and Escrow: 6 Best Practices for Getting Your Money Back from Insurance Carriers

Want to get a little (or larger) end-of-the-year bonus? Make sure you follow our six best practices for getting your money back from insurance carriers. But first, a few definitions: Collateral is posted on loss sensitive accounts to secure expected future financial obligations. Escrow is posted on loss sensitive accounts as an active claims payment...

Risk Management

7 Things You Need to Know About TCOR (Total Cost of Risk)

Do you know your total cost of risk (TCOR)? It’s important to track this figure annually, especially if you’re trying to lower it. Here are 7 things to keep in mind when reviewing your TCOR: When evaluating TCOR, remember it’s not just premiums. TCOR also includes self-insured losses, internal administrative fees, including collateral costs, and...

Risk Management

7 Ways to Uncover Invoice Fraud

Recently there has been a significant uptick in fraudulent email traffic out of China where scammers issue fake invoices that trick legitimate businesses into paying. This scam is hitting savvy, large, internationally-experienced companies, including Risk International clients. We are currently working on over $1.5 million in claims for this activity. How the Invoice Fraud Scam...