Threats to your business are complex and unpredictable.
Between cyber breaches, catastrophic weather events, volatile supply chains and an abundance of other threats, businesses need help taking a holistic approach to operational risk management. When threats turn into crises, companies must balance competing priorities including stabilizing operations and recovering losses.
BDO’s Insurance Risk & Recovery practice leverages deep functional and industry knowledge to strategically manage risk and recover from losses. We work with organizations to help identify and mitigate risk — and recover faster when incidents occur. We help you navigate a volatile insurance market, optimize your use of insurance as a risk-transfer tool, and mitigate your operational, digital, enterprise and third-party risk. And when crisis strikes, we help you pursue claims recovery to recoup costs.
Our advisory practice focuses on delivering comprehensive insurance risk & recovery services tailored to meet your specific needs. Taking an integrated view of risk and insurance across business functions, we understand the levers you can pull — from business resilience strategies to insurance vehicles — to turn crisis into opportunity.
BDO offers insurance risk & recovery services to help your organization achieve its goals.
Evaluate organizational, operational, cybersecurity and third-party risk; decide which to transfer and which to retain.
Balance compliance and efficiency, while fulfilling commitments to your clients, partners, lenders, vendors and regulators.
Use data and cognitive science to analyze outcomes of various scenarios and inform a comprehensive risk management program.
Help companies put the right guardrails in place to drive responsible business behavior and risk-taking.
Leverage a data-driven approach to help optimize your insurance portfolio and improve claims recovery.
Develop or update business continuity plans that enable you to respond and adapt to unpredictable threats before they arise.
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We help clients use insurance as a risk management vehicle to build resilience and help maximize claims recovery to recoup costs after a crisis.
With years of claims management experience and one of the largest claims management practices in the world, we know what fair looks like—and help you avoid undervalued outcomes.
We view risk as an integrated piece of overall business health.
We’ve forged strong relationships with every major insurance carrier and brokerage based on mutual respect and trust—not financial compensation.
We combine military models, cognitive science, design thinking and game theory with data analysis to analyze risk and help keep your company safe.
Insurance Risk Management involves managing the volatility of commercial insurance premiums and achieving a cost-efficient insurance strategy. It is vital for effective risk management; especially as rising insurance costs reflect increasing risks. This service focuses on addressing the total cost of risk by deploying resilience and insurance strategies in tandem.
BDO also uses insurance risk optimization tools to streamline coverage and reallocate funds back into the business, ensuring proper coverage. Additionally, we assess vendors and conduct third-party risk transfer to offset certain exposures, rectify issues such as late reporting, improper reserving, and failure to identify problem claims early in the process.
BDO helps by conducting assessments and designing a holistic insurance program to ensure risk blind spots are covered. Analytics are used to consider historical industry and company-specific precedents when establishing risk tolerance and insurance needs.
A captive is an insurance subsidiary of a non-insurance parent and exists to serve the risk management needs of the parent and/or to support the core business goals of the parent, rather than for its own profitability.
Another way to see a captive is as a risk financing vehicle for retaining corporate insurance risks. Nearly any risk that is self-insured, carries a large deductible/retention, is commercially unavailable, or cost prohibitive can be a risk insured by a captive.
Our series will cover a variety of topics of including: Insurance as resilience, the landscape shift in the cyber insurance market, and navigating the complex claims process when catastrophe strikes.
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Risk management and resilience are increasingly complex challenges. BDO’s team of experienced professionals is here to guide you through today’s uncertain risk landscape.
BDO's Risk Advisory team proactively works with clients, from startups to Fortune-500 companies, to help manage risk through tested, real-world strategies and best practices.
At BDO, you can do much more than fulfill your career ambitions — here, you can explore your full potential. That’s because we’re committed to helping our employees achieve on both personal and professional levels.
