Other Risk Advisory Services

Our expertise and experience in certain specialized management consulting areas is presented below. 

Risk Financing

We are conversant with all of the risk financing products available in the commercial and risk pooling marketplace, including self-insurance funds or reserves, single parent captives, segregated all captives, reciprocal insurance exchanges, industry captives and risk pooling groups. We have worked on studies involving financial insurance, finite risk reinsurance, rent-a-captives, and other alternative risk financing vehicles.

Our objective in the risk financing field is to assist clients in selecting, designing and implementing the least cost, most reliable portfolio of risk financing components: self insurance reserves and funds, captives, insurance, reinsurance (treaty, facultative, and stop loss) and chronological loss stabilization techniques.

Group Risk and Insurance Pooling

For groups seeking analysis and advice on group insurance feasibility (be they reciprocal insurance exchanges or group captives), we offer analysis, and business plan services.

We analyze, advise and assist in the structural, actuarial, legal, and rating aspects of pooling, as well as in reinsurance strategy and pricing.

Our experience includes the feasibility and formation of three reciprocals and eight offshore captive insurance companies, including the very first captive formed in Barbados.

Mergers and Acquisitions 

Consolidating insurance programs quickly and least cost is a challenge, but one often left for later in an acquisition, thus sacrificing immediate perspective and eventual benefits.

We can assist in the due diligence requirements for data collection, risk assessment and claim analysis of a proposed M&A. 

Rating and Cost Allocation

Sigma Risk helps its clients in developing workable and defensible allocation methods for forecasted self-insured loss, insurance premiums and other risk costs amongst the business units of an organization or even to third party partners.

Our actuarial and statistical skills, combined with our knowledge of commercial insurance underwriting practices and rates, provide a defensible, equitable and practical rating and cost allocation scheme. 

Business Continuity

A Business Continuity Plan (a BCP) generally follows an accepted format with generally accepted content. The office, IT and communications aspects are generally straightforward if the proper business impact analysis, recovery time objectives and resource planning is done. Where a BCP may increase in complexity is when a catastrophic risk (flood, hurricane and storm) is involved or when production or supply chain components and their replacement time become challenging.

We’ve prepared BCPs in the retail, municipal, engineering, construction, energy and financial institution sectors.