Comprehensive risk management services.

The only way to manage insurance risk effectively is to understand it fully. Every TMO Consulting client relationship begins with a thorough analysis of the uncertainties and variables that may affect each specific organization, including the scale of impact, and both short- and long-term likelihood. We consider macroeconomic possibilities, the competitive industry dynamics, and all aspects of operations in order to develop a complete picture of your unique exposures.

TMO Consulting professionals offer extensive experience in all aspects of insurance and risk management services. Our teams include specialists in virtually every industry, and resources in more than 160 countries around the world. Our services include:

  • Crisis Management & Business Continuity
  • Insurance Risk Advisory
  • Forensic Insurance & Recovery

New thinking for a complex world.

The old ways of managing risk are no longer enough. In today’s complex landscape, protecting the people, products, and profits that shape organizations requires creativity in crisis management – looking both inside and outside the discipline of risk for inspiration. The Crisis Management & Business Continuity professionals at TMO Consulting provide risk executives with innovative solutions needed not just to survive, but to thrive. Our services are structured around five areas.

  1. Risk – We demystify the characteristics of world-class programs – including the importance of training, engagement, and choosing the best-fit technologies.
    • Program assessments
    • Program governance and strategy
    • Program implementation and maintenance
  2. Technology Services – We provide both custom and turn-key technology services to drive program automation, self-service, and data integrity.
  3. Program Design – From marketing campaigns to program brands, gamification, and ground-breaking activities, our design services elevate the equity of risk programs world-wide.
    • Program branding and marketing
    • Program activities
  4. Training & Learning – We introduce innovative approaches to training and learning that blend cognitive science, military models, storytelling, engagement strategies, and industry standards.
    • Executive exercising
    • Train-the-trainer
    • Hot-topic workshops
  5. Management – All aspects of a program can be outsourced to BDO, from program governance to business continuity plan development, training, and exercising.

Managing the total cost of risk.

With change comes risk. With the transformative change taking place across the business landscape – and with the pace at which it is happening – comes an entirely new level of complexity in risk management, even in a robust economy. Organizational risks rarely are isolated. Uncertainties related to technological innovation, competitive dynamics, regulatory pressures, and supply chain partners exist in a vast interconnected network. Unexpected changes in one area can ripple throughout all aspects of operations, often with unforeseen consequences.

TMO Consulting helps clients map the risk landscape, and tailor their risk framework to utilize insurance tools efficiently and cost effectively. We develop holistic insurance risk and claims management programs uniquely designed for each client, factoring in long-term and short-term objectives, market dynamics, operational details, and the impact of each on the business model. Our goal is to optimize the Total Cost of Risk.

Insurance Risk Advisory Services
First, we develop a strategy around risk retention and transfer, utilizing analytics informed by historical industry losses, company-specific losses, corporate risk-tolerance, and insurance cost. Then our insurance risk advisory experts help you tailor an insurance policy directly, or with your insurance broker, to align the risks and eliminate gaps. Our offerings include:

  • Insurance program design and assessment
  • Focused risk and insurance policy evaluations
  • Knowledgeable internal audit professionals
  • Litigation support
  • Insurance risk management outsourcing and co-sourcing
  • Merger and acquisition transaction support
  • Captive feasibility and utilization services
  • Vendor and third-party risk transfer assessments

Casualty Claims Advisory Services
Negative impact can result from late reporting, improper reserving, lack of coordination of benefits, and failure to identify problem claims early in the process. TMO Consulting helps clients structure a claims management process that closes the gaps on inefficiencies and drives down costs. Services include:

  • Claim management efficiency review
  • Third-party administrator compliance evaluations

Insurance Vendor Management
The insurance risk function requires vendors in multiple areas: insurance brokerage, engineering, loss control, claims administration, actuarial, captive managers, and more. When properly managed and structured, these vendors bring value to the organization and help drive operational efficiency. TMO Consulting helps clients manage the insurance vendor process with services that include:

  • Risk framework and contracting strategy
  • Vendor performance evaluations
  • Vendor competitions

Expediting recovery through financial prowess.

Companies affected by major setbacks face many obstacles – receiving appropriate and timely insurance payments shouldn’t be one of them. TMO Consulting’s Forensic Insurance & Recovery professionals focus on the quantification and compilation of complex insurance claims in several areas:

  • Property and business interruption
  • Fidelity / employee dishonesty
  • Product recall
  • Directors & officers
  • Cyber security breaches

TMO Consulting works on behalf of policyholders, providing an independent and objective perspective. Our long history of preparing fair and timely claims is respected by underwriters, adjusters, and their accountants, and has allowed us to recover more than $5 billion for our clients.  Our fees are reimbursable under the standard Professional Fees / Loss Adjustment Expenses provision of commercial insurance policies.1

As one of the world’s largest accounting and advisory networks, TMO Consulting has substantiated and prepared some of the most complex property and business interruption insurance claims in both the United States and abroad. Events we have worked on include the terrorist attacks of September 11, Hurricanes Katrina and Sandy, the Thailand floods and the Japan earthquake / tsunami, in addition to losses across six of the seven continents around the globe.

Before an event occurs, companies need to be prepared to manage the accounting documentation required to prove their claims in order to achieve financial recovery on an insurable loss. In addition to reactive services, we also assist clients proactively, determining appropriate values to submit for each policy period, as well as completing the Business Income Worksheets for which policy premiums are determined.

We employ a service approach characterized by a high degree of senior-level involvement coupled with direct access to top technical resources, all with straightforward, proactive communication throughout each stage of the claims process.

The Professional Fees / Loss Adjustment Expenses provision is not provided in every commercial property policy.  Each policy would need to be reviewed independently to understand if this coverage is present.