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Risk Management Consultants

Preamble 

This content is independent of any content coming from insurance brokers or insurers or law firms. There are many misconceptions around Risk Management Consultants, just like many topics in commercial insurance.

About Risk Management Consultants 

They are professionals who are licensed by a regulatory body to provide advice on various risk management and insurance specialties and they are independent of insurance brokers or insurance companies (ie. they should not be owned or compensated by brokers or insurers so that there is no conflict of interest). Beware of insurance brokers who call themselves risk consultants or risk management consultants, they may do so for marketing purposes even though they are licensed as an insurance broker, so it is best to always ask for a copy of a professional’s active license to make sure that it is distinct from an insurance broker license. Some global firms do have separate departments for insurance broking and risk consulting, yet most do not adopt chinese walls between such departments hence creating a conflict of interest to the detriment of their clients.

Independent Insurance Consultants

Truly independent insurance consultants must NOT be owned nor compensated by any insurance broker or insurance company, AND must be licensed by a regulatory body that governs risk management consultants or insurance risk consultants providing a unique license that is different from that provided to brokers or insurers. BEWARE of insurance brokers posing as independent insurance consultants. There is a substantial conflict of interest if a consultant is both a broker and a risk management consultant.

Insurance Risk Management Consultants 

They are risk management consultants specializing in insurance. They are in essence independent insurance consultants, also known as insurance risk consultants. Risk management is a broad field that includes various sub-categories of risk management and insurance management. A risk management consultant will typically have a specific focus on one or more sub-categories. Our team has expertise within the full spectrum of risk management including commercial insurance.

Financial Risk Management Consultants

They are risk management consultants specializing in financial risk (as opposed to operational risk or other forms of risk). They include consultants who specialize in credit risk, liquidity risk, equity risk, or other forms of financial risk. Our team has expertise within the full spectrum of risk management including financial risk.

Operational Risk Management Consultants

They are risk management consultants specializing in operational risk (as opposed to financial risk or other forms of risk). They include consultants who specialize in one or more categories of Operational Risk. Our team has expertise within the full spectrum of risk management including operational risk.

Popular Searches Online 

Top Risk Management Consultants 

Our company is considered a top risk management consultant as we are the first globally to form a link between Operational Risk and Commercial Insurance. Feel free to Contact Us at any time wherever you are in the world and with any requests you may have. Our licensing enables us to service businesses and investors worldwide.

Independent Risk Management Consultants

They are consultants independent from brokers or product providers such as insurance companies. Deshret Capital is considered an independent risk management consultancy.

International Risk Management Consultants 

They are risk management consultants independent from brokers or insurers and who are able to service businesses or investors in more than one country or around the world. Deshret Capital is considered an international risk management consultancy.

Risk Management Consultants of Ontario

Abbreviated RMCO, it is a regulatory body that provides licensing to risk management consultants operating in Ontario, and which operates under the purview of The Office of the Superintendent of Financial Institutions (OSFI). This is due to the fact that risk management consultants or insurance consultants must be licensed within the province of Ontario. RMCO is a different entity from the Registered Insurance Brokers of Ontario (RIBO), the latter primarily licensing insurance brokers. Our team at Deshret Capital holds an active license from the Risk Management Consultants of Ontario (RMCO). 

Enterprise Risk Management Consultants 

They are risk management consultants specializing in enterprise risk management (as opposed to operational risk management or other forms of risk management). They include consultants who specialize in one or more sub-categories of Enterprise Risk Management (ERM). Our team has expertise in ERM. 

Project Risk Management Consultants

They are risk management consultants specializing in managing risk of a specific project or transaction, as opposed to continuous risk management for a business or investors. They include consultants who specialize within an industry vertical with a focus on construction risk, infrastructure risk, IT risk, etc., or within a product vertical with a focus on credit risk, operational risk, etc. Our team has expertise in project risk management.

Construction Risk Management Consultants

They are risk management consultants specializing in managing risk of a construction company or project. They include consultants who specialize within a product vertical with a focus on financial risk and operational risk, yet specific to the construction industry. This includes insurance consultants who can advise on commercial insurance products such as Builder’s Risk Insurance, Inherent Defects Insurance, Contractors’ All Risks Insurance, or other forms of insurance relevant to the construction industry. Our team has expertise within the full spectrum of risk management including commercial insurance products relating to the construction industry.

Frequently Asked Questions (FAQ)

What Do Risk Consultants Do?

They deal with Risk! Risk consultants is a broad term only because there are many different types of risk (ex. financial risk, operational risk, security risk, etc.). One must narrow down their definition of the specific type of risk they are trying to learn more about in order to hire the right consultants. For example, we are risk consultants, however we specialize in measuring risks impacting businesses and investors including operational risk and financial risk. We also specialize in hedging such risks including rewording commercial insurance sold by brokers, as well as monetizing such risks including achieving better financing and valuations for our clients based on their risk profiles.

Are Insurance Brokers Independent Insurance Consultants? 

NO. Insurance brokers or insurance agents are not independent by virtue of what they do because they are compensated by insurance companies either directly or indirectly. An independent insurance consultant would be compensated by the insured and not tied by ownership or compensation to any insurance broker or insurer. Beware of insurance brokers or agents who call themselves independent insurance consultants, risk management consultants, or insurance risk consultants. More information is available on how commercial insurance is created and distributed.

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