Selecting Risk Management Techniques

More often than not, the best Risk Management Technique is a combination of risk control and risk financing. In the selection process, we assist the organization in forecasting loss by quantifying the risk of loss from a historical prospective for your particular organization. In some cases, due to the size of the organization, historical information may provide information outside of our acceptable confidence levels. In this case we look to a variety of sources for quantifying risk of similar organizations. This evaluation will assist you by identifying those risks that may better handled through risk control techniques.

Loss Financing Alternatives are only limited by the financial strength of the organization and its relationship to the risk management philosophy of the organization. Entities that chose some level of self funding losses have a variety of funding options including retrospective rating plans, captive insurance companies and ultimately, self insurance.

Traditional school districts with student count under 20,000 are limited with respect to self funding alternatives. While some of the smaller risks may be self funded, the use of strategic deductibles or closely monitored self insurance for quantifiable risks may be explored when tied to the proper risk transfer devices.

PCS will assist your organization in development of the proper strategy to address the selection of the blended risk management technique.

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