With the increasing complexity of today's construction projects, contractors must manage a variety of risks, e.g., contractual, financial, operational, organizational, insurable, etc. The proliferation of design-build as a project delivery method, and the use of wrap-up insurance programs to reduce costs and control losses, has greatly increased the dynamics of construction risk management. In addition, the hardening of the insurance market has made the availability and affordability of construction insurance and risk management a critical issue for most construction financial professionals.

Having a competent risk management professional on your project team that fully understands these issues is no longer an option, but a necessity. C-Risk provides construction industry clients with focused risk management strategies and practical advice to help mitigate the risks and exposures that are inherent within construction operations.

C-Risk views risk management as a process that follows a systematic methodology. We work with clients to identify and quantify their risks, develop a client-specific risk profile, and formulate a risk management strategy that is correlated with the client's individual market segmentation and construction business.

A key factor in the risk management process is making an assessment of a client's risk appetite. Are they a risk-taker or are they risk-adverse? C-Risk obtains this fundamental information during an initial consultation with a client. During this meeting, we review and discuss a client's business operations, loss experience, and the pros and cons of their current insurance and risk management program. We may also explore a client's interest in the alternative risk transfer (ART) market as an option to traditional insurance.

Once we have completed our risk assessment, we can provide objective advice on what options are available to a client for the design of a comprehensive risk management program. This will entail risk transfer, risk retention and risk allocation considerations, including risk financing as a stop-gap measure to finance the residual risk that can not be contained through conventional insurance or other risk-transfer methods.

For additional information about C-Risk and how we can assist you in the formulation of a risk management strategy for your company's specific insurance and risk management requirements, please contact us at 503-228-0884 or email consulting@c-risk.com.