Risk & Business Magazine Gamble HUB International Fall 2015 | Page 28

R & Risk Management Teams B HUB Coverage Gaps and Your Business BY: BARRY HOGAN, PRESIDENT, GAMBLE HUB INTERNATIONAL A proper risk management team is something which does more than simply help you to find the right insurance for your particular business. There are many other areas which a good risk management team is able to provide help. HUB International has one of the best dedicated risk management teams in the entire North American insurance brokerage industry, and they provide many services on top of simply helping to fill coverage gaps (though obviously that is also one of their primary functions). Again, the primary goal of the risk management team is to assess a given business for the types of exposures that they are going to face on a day-to-day basis and to ensure that they have the proper type of insurance coverage to make sure there are no gaps in that coverage. That is, by far, one of the primary goals of any risk management team and especially any insurance brokerage. Of course, the services which are often provided need to go beyond merely making sure there are no gaps in the coverage of a business. For one thing, the risk management team at HUB International will help a business go through an internal auditing process to help make sure that industry best-practices are being followed. This will help commercial clients become better at not having to submit claims to begin with. Really, this is the goal of any business with insurance. Having no claims means smooth sailing and good business operations. Claims, more often than not, mean that something has gone wrong somewhere down the line. Thus, the help with the avoidance of claims is something which most (if not all) commercial clients appreciate and need in order to thrive. The best way to help avoid claims for clients is for the risk management team to work hand in hand with internal business teams in order to establish guidelines which can be followed. Through the use of guidelines and helpful suggestions, the occurrence of claims will be minimal. Again, businesses do not always have the know-how to do this on their own, or even to know where to start establishing best-practice guidelines. That is what makes the risk management team useful. The fact that the risk management team is dedicated (this is all that they do) means that businesses can always be sure they are working with people who are very familiar with the subject matter (and with their industry). Businesses face areas of risk that they, more often than not, are unware of. Thus, it takes a professional brokerage or team of risk management professionals to come in and help guide them in the process. HUB International not only understands this, but they have put systems in place to support it, regardless of the size of the business. You, and our clients, are the most important thing to us. If you wish to speak to our risk management team and find out more information, you can contact your local broker and they can arrange to have one of our risk management people be in touch with you. 28 RISK & BUSINESS MAGAZINETM FALL 2015