All businesses have costs associated with their risks that extend beyond the coverage provided by insurance. This is true regardless of the risk source; Hazard, Strategic, Operational or Financial.

Total Cost of Risk (TCOR) is a combination of direct costs such as insurance premiums and deductibles coupled with indirect costs such as lost productivity, lost business opportunities and administrative time dealing with the loss.

Why is TCOR so important? These costs have a huge impact on your businesses' financial performance, which reduces your ability to be competitive. Collier has the expertise to identify these costs. Our in house resources will analyze your businesses loss data, claims administration, safety and risk control program and financial statement to quantify your TCOR. We will then provide recommendations for reducing this often misunderstood expense.

Our goal is to reduce your TCOR and in so doing increase your ability to improve quality and productivity... and as a result become more competitive and profitable.

Ask us about our Total Cost of Risk initiative.