Services middle-market businesses should request from their property/casualty insurance brokers

• PERFORM an analysis of the business insurance portfolio to determine if there are any coverage gaps, and whether limits need to be increased in some lines.

• CONDUCT a claims analysis to identify trends and advise on loss prevention.

• PERFORM a “cost-of-risk” analysis to determine optimal deductibles and retentions.

• PROVIDE loss control inspections and advice.

• PROVIDE risk management advice.

• PROVIDE claims handling advice. For example, the insurance broker can vet claims to determine which should be reported to insurers and which should be handled internally.

• CONDUCT exposure analysis to determine maximum probable losses and whether adequate loss prevention measures and insurance are in place.

• PROVIDE advice on related topics such as trade credit risk, business interruption/continuity risks and bonding.

• PROVIDE education to a middle-market business' staff on various loss control, insurance and risk management topics.

• CONDUCT an annual stewardship review. This is a report summarizing what the broker has done for the business during the past year, how it has performed, whether it met its promised service standards and what it plans to do for the business in the future. The size of the business will determine the comprehensiveness of the report.

• ASK brokers for advice on any matter that involves potential for loss, risk, insurance, claims or any other matter with which a middle-market business needs help. The worst thing the broker will say is that such services are unavailable or that there is an accompanying fee.