Risk Management Consulting, LLC

Risk Management Consulting offers a variety of services that fall into three main categories: Compliance, Staffing & Oversight, and Operational Improvements.

• Compliance: We to help companies maintain regulatory compliance with a variety of regulations, including Sarbanes-Oxley, OSHA, HIPAA, EPA and others.
• Staffing & Oversight: Whether a client needs an objective third party insurance review or temporary risk management services, Fred Travis is ready to lend his expertise.
• Operational Improvements: Risk Management Consulting helps clients evaluate and improve existing insurance programs and risk management operations.

M&A Due Diligence

Risk assessment and insurance review are important elements of due diligence for mergers, acquisitions and divestitures. Call on Fred Travis to assess a target company's insurance programs, policy documents, loss potential and other risk-related issues. He can help quantify future losses and work with your broker or agent to insure or cap that loss at manageable levels.

TPA Critical Controls Audit

Sarbanes Oxley has made it imperative that vendors who make payments on behalf of clients have adequate financial controls. Risk Management Consulting offers comprehensive audits, including review of third party administrator SAS70 for Material Weaknesses and assessment of internal financial and operational control quality. Fred Travis provides lists of required improvements and recommendations for added controls and procedures to help companies maintain compliance. If needed, Fred also assists in implementing reconciliation procedures and additional internal controls.

Insurance Program & Policy Review

Does your insurance program provide adequate coverage for your company's needs? Are you getting the best value for your premium dollars? Risk Management Consulting analyzes clients' limits, deductibles and coverage, compares them to business needs and best practices, and recommends cost-effective improvements. By reviewing policy terms and conditions, we can identify deficiencies and ensure that our clients' interests are protected. Using this information, Fred Travis can assist clients in developing presentations to carriers to obtain the best prices and the best coverage to fit their needs.

Temporary Risk Management

Fred Travis offers interim Insurance and Risk Management services until permanent staff can be hired and trained. This is an ideal short-term solution for companies that are newly forming a Risk Management program or have recently lost personnel. Risk Management Consulting can eliminate the pressure to hire a new employee immediately, while assisting in the hiring process. Fred Travis can develop job descriptions, assist in candidate selection, and provide training for new hires.

Vendor Selection & Performance Management

Does your company have an effective process in place for selecting and monitoring the performance of Brokers, Third Party Administrators and other key vendors? Risk Management Consulting helps establish strong vendor selection criteria and performance standards. Our services include:

• Drafting Requests for Proposals (RFPs)
• Creating vendor/employee selection criteria & Developing and implementing a vendor selection process
• Establishing performance standards and methods of measurement
• Conducting ongoing vendor performance evaluations
• Issuing customized status reports and improvement recommendations
•  Analyzing the efficacy of existing vendor selection and evaluation processes

Workers' Compensation Cost Management

A successful worker's compensation program depends on three key processes: identifying and addressing safety issues, ensuring the effectiveness of Medical Management, and basing plans on actionable information. Using these critical elements, Fred Travis helps companies reduce workers' comp claims, streamline the claims administration process, and quantify current and projected costs and trends.

• Risk Management Consulting performs basic loss control studies and reviews of critical business operations. From this, we determine specific safety threats and provide recommendations for reducing accidents and injuries.
•  By analyzing loss runs, third party administrator data and other loss information, Fred Travis assesses clients' current workers' comp costs and provides three- to five-year trend forecasts. These reports help determine the key drivers of current losses, and allow us to minimize or eliminate them.
• Third Party Administration and Medical Management should be evaluated regularly to ensure they are working as efficiently and effectively as possible. Fred Travis develops and implements improvement plans, creates status reports to keep Management apprised of progress, and assists in the interpretation of results.