Many insurance professionals believe the next hard market may be lurking right around the corner. Historically in hard markets, self-insurance has been used as a risk-financing mechanism to offset higher insurance prices and the lack of capacity.
To maximize the performance of a self-insured program and discover hidden issues, risk managers need to periodically conduct a systematic review of insurance exposures. In this article, published by Risk Management Magazine, Milliman actuary Richard Frese discusses five key questions that can guide your assessment.
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