When making any business decision, there are a number of factors to consider. Selecting the financial option that best meets your company’s needs is no exception. Fortunately, you’re not alone. Haylor, Freyer & Coon can help you analyze all the options and help you select the one that’s best for your company. Points of consideration include the following:
- Corporate philosophy concerning Loss Prevention & Claims Management
- Loss range projections
- Premium size
- Corporate financial condition
- Corporate cash flow needs
- Availability of security (Letter of Credit)
- Employment dynamics
- States of operation
When all the data is accumulated and analyzed, the various options will be compared using the following methodology:
- Selection of a reasonable loss range projection
- Looking at the “top end” exposure versus the plan expenses
- Comparing the various options based on a “discounted cost” analysis at the projected loss range
It’s all part of a comprehensive process aimed at designing and negotiating a plan that allows for the best cash flow and the lowest expenses at your projected loss range and limits your company’s top end exposure.
