How can I manage insurance risk proactively?

Proactive insurance risk management is the discipline of treating cover as a living part of the control framework rather than an annual procurement exercise.

Organisations that manage it well keep their programme aligned to a current risk register, maintain claims and notification readiness, and govern insurance at board level alongside the risks it is meant to transfer.

Those that do not tend to discover the gaps only when a loss exposes them. For a board, the strategic question is whether insurance is actively managed to respond when needed, or passively renewed and quietly drifting.

This report sets out how insurance risk is managed proactively in your chosen jurisdiction and industry, and the governance, disclosure and fair-dealing frameworks that underpin a resilient programme.

It covers the indicators of a programme falling behind the business, and the impact of strong versus weak management on recovery and cost.

It also sets out when to engage brokers, risk advisers and coverage counsel to build a programme that performs under pressure rather than one that merely exists on paper.