Risk Management & Asset Protection in Louisiana

Risk Management & Asset Protection

AWS Risk Management, LLC (AWS RM) is dedicated to advising and servicing its Clients in all aspects of Risk Management. We pledge to recommend and help you implement workable solutions that achieve maximum asset protection while minimizing the overall total cost of risk to the organization.

Incorporated in 2004, AWS RM serves its state, national, and international clients from its Metairie, Louisiana offices, just outside of New Orleans. Our diverse client base includes municipalities, public authorities, boards, and private industries. Our seasoned professionals offer a wide variety of Risk Management services, including Insurance-related advice, FEMA Compliance assistance, Claims Consulting services, Safety and Loss Control oversight and Human Resource solutions. AWS Risk Management, LLC promises to serve the total Risk Management needs of our clients. AWS is on your team when it comes to risk management in New Orleans, Metairie, Mandeville, Covington, LA and surrounding areas. Contact us today for a free consultation.

Risk Management Services

  • Risk Management and Insurance Program Audit
  • Insurance Renewal Analysis and Insurance Specification Development
  • Requests for Proposals / Requests for Qualifications
  • Insurance Certificate Management
  • Claims Audit and Analysis / TPA or Carrier reviews
  • Litigation Management
  • Contract and Lease Review & Analysis
  • FEMA Compliance and Analysis
  • Disaster Preparedness / Crisis Management
  • Safety and Loss Control
  • Risk Management and Safety Manual Development
  • Actuarial Analysis / GASB reporting
  • Loss Forecasting / Loss Reserving
  • Risk Financing Alternative Analysis
  • Building Valuations
  • Organizational / Operational Management Consulting
  • Human Resource Consulting
  • Due Diligence Reviews
  • Stewardship Reports
  • Employee Education and Training

RISK MANAGEMENT PROFESSIONALS

Gloria M. Bruno, CIC, CRM, ARM, AAM, CPIW, Has worked in the insurance risk management field for over 40 years specializing in the marine, transportation, and hospitality arenas. Gloria’s professional designations earned include the Certified Insurance Counselor (CIC), Associate in Risk Management (ARM), Associate in Automation Management (AAM), Certified Insurance Professional Women (CPIW), and Certified Risk Management (CRM) designations.

After working with two major local insurance agencies and having owned and operated her own agency for twelve years, she is familiar with all facets of insurance and alternative methods of risk control. Since retiring from insurance sales in 2000, she focuses on risk management techniques and analysis bringing many years of experience and industry relationships to this arena. Gloria’s risk management engagements include both the private and public sectors. In addition to working in Louisiana, she holds a Texas Risk Managers License. She is an active member of RIMS and PRIMA as well as serving on the boards of several industry and community organizations.

Risk Management Terms

  1. Exposure
    a situation, practice, or condition that may lead to an adverse financial consequence; an activity or asset;
  2. Hazard
    a condition that may give rise to a loss from a given peril; physical, moral, or morale characteristics that make the likelihood of a loss from a given peril greater
  3. Peril
    the cause of a loss
  4. Incident
    an event that disrupts normal activities and may become a loss
  5. Accident
    an unplanned event definite as to time and place that results in injury or damage to a person or property.
  6. Occurrence
    an accident with the limitation of time removed (an “accident” that is extended over a period of time rather than a single observable happening)
  7. Loss
    a reduction in the value of assets
  8. Claim
    a demand for payment or an obligation to pay as a result of a loss
  9. Frequency
    the number of losses occurring in a given time period
  10. Severity
    the dollar amount of a given loss or the aggregate dollar amount of all losses for a given period
  11. Expected losses
    projection of the frequency or severity of losses based on loss history, probability distributions, and statistics; the expected loss projection is commonly called a “loss pic” or “loss pick”

INDUSTRIES

Typical client industries include:

  • Associations
  • Banking / Financial Institutions
  • Education
  • Governmental
  • Health Care
  • Hospitality
  • Marine
  • Non-Profit
  • Protective Force Organizations
  • Retail / Wholesale / Distributors
  • Transportation
Construction Worker With iPad

FREQUENTLY ASKED QUESTIONS

What is risk management?

Risk management is a process that seeks to identify, assess, and control the ongoing risks faced by an organization, especially those encountered during growth and/or evolving socio-economic conditions and environments.

Where Does Risk come from?

Risk comes from a variety of sources, the most common are:

  • Economic risks arising from operations, marketplace, financial marketplace or entrepreneurial activities
  • Legal risks inherent in compliance or arising from statutory liability
    Political risks arising from changes in the law or governmental reinterpretations or changes in governmental policy
  • Social risks arising from public relations, loss of reputation, cultural problems or social direction
  • Physical risks arising from property, people or information
  • Juridical risks arising from a jury or judge’s decision or from court or jury attitudes

What are the steps in the Risk Management process?

The Five Steps of the AWS RM Risk Management Process are:

  • Risk Identification – The identification of hazards and exposures that present potential threats to the organization’s existence and viability
  • Risk Analysis – Review and categorize findings in terms of their potential impact to the organization.
  • Risk Control – Actions taken to reduce the probability and severity of losses. Insurance is one of many Risk Control Options
  • Risk Financing – Traditional (insure), non-traditional (self-insurance, large deductibles, retentions, pooling, etc.)
  • Risk Management Program Administration – Establish risk management, safety and loss control policies and procedures; monitor, adjust as needed, review results

What are the benefits of an effective Risk Management program?

  1. Identifies exposures and risks associated with the exposures
  2. Provides resources to determine the organization’s risk appetite
  3. Reduces and mitigates losses and associated costs
  4. Spreads the cost of risk effectively
  5. Integrates risk control and safety
  6. Improves the organization’s ability to budget and plan
  7. Assists management in adding value to the organization and achieving the organization’s goals

What does a Risk Manager do?

A risk manager uses technical expertise to purchase insurance programs, select agents, insurers, and Third Party Administrators. The risk manager evaluates and negotiates bids, identifies exposures, analyzes losses, evaluates and interprets coverages. The Risk manager also manages claims, audits service providers and conducts cost benefit analyses.

How can AWS Risk Management assist my company?

AWS Risk Management can assist in the following

  • Identify risk exposures the company faces using various risk identification methods
  • Participate in due diligence analysis for mergers and acquisitions
  • Analyze past losses to determine future losses in both frequency and severity
  • Implement safety and loss control programs
  • Analyze and review contracts and leases
  • Investigate accidents
  • Manage claims and litigation
  • Develop and lead crisis management program
  • Arrange risk financing both through transfer and retention
  • Determine and allocate cost of risk to cost centers
  • Coordinate compliance with regulations and state filings
  • Audit carrier and TPA claims performance
  • Monitor results and program effectiveness

AWS Insurance

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Call Us Today 1-800-375-5563
New Orleans 504-883-4111

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4501 W. Napoleon Ave. Suite 200
Metairie, LA 70001

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