• The 7-Step Risk Management Process

    Protect assets. Improve your bottom line

  • Ready to control costs, prevent claims and improve cash flow? Our goal is to help you achieve these things and more. It starts with our 7-Step Risk Management Process.

    Step one: Get to know your business
    Knowing your business is an essential first step of our risk management process. Be ready – we are very thorough in the first step because with better understanding, we can design a more effective risk management plan.

    Step two: Analyze and assess the current picture
    You gain new insight about what you’re doing well and where there are opportunities for improvement.

    Step three: Provide options and recommendations
    Based on the findings in steps one and two, we recommend viable solutions, and help you understand the pros and cons of each. Solutions may include traditional insurance or alternative risk transfer strategies.

    Step four: Design the best solution for your business
    Together, we select the best solution for you. You will have the information and support to make an informed risk management decision.

    Step five: Implement the risk management plan
    We develop a realistic risk management implementation plan with milestones, timelines and designation of key responsibilities. You also get acquainted with your service team.

    Step six: Monitor and fine-tune
    Throughout the year, we collaborate with you to ensure your satisfaction. Our team provides complete support – from claim review and loss control to preparing certificates of insurance. We continuously monitor results and adjust tactics to optimize your program.

    Step seven: Adapt to your changing business environment
    Business constantly evolves, so a nimble risk management program is essential. We strive to keep your risk management strategy one step ahead of changing exposures.
  • More than just insurance

    While insurance is the right choice for many businesses, it isn’t the smartest choice for every business. So as part of our risk management services, we help you understand alternative options such as self-insurance and captives.
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Risk management and insurance products are offered through First Niagara Risk Management, Inc., a wholly-owned subsidiary of First Niagara Bank, N.A., and a licensed insurance broker and agent. Insurance policies are obligations of the insurers that issue the policies. Insurance products may not be available in all states.



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