GET LARGE LOSS DATA, TCOR VALUES, PREMIUMS, LIMITS AND RETENTIONS ACROSS LOBs
How much did businesses pay to cover the total cost of risk (TCOR) for 2016? What factors drove the change in TCOR? Find out in the 2017 RIMS Benchmark Survey!
2017 RIMS Book Today!
Within this increasingly competitive insurance market, benchmarking the total cost of risk provides risk managers a key advantage as they design and evaluate their organizations’ risk financing programs.
For more than two decades, the RIMS Benchmark Survey has been offering insurance professionals a wealth of statistical information that allows them to compare their program to similar companies. The annual survey monitors changes in insurance risk costs and financing methods as reported by North American corporate risk managers.
The RIMS Benchmark Survey is an annual summary of the data received during the prior calendar year. The 2017 survey is based on 20,000 insurance programs from 759 entities – many of which are Fortune 500 companies. These insurance programs represent over $4 billion in premium.
Advisen Ltd. compiles policy information within 10 insurance coverage lines and reports on 14 distinct industry groups, as well as aggregating a summary of all responses.
For premiums, limits, and retentions, as well as rate per million, TCOR value, and large loss examples, this comprehensive book can’t be beat.
2017 RIMS Benchmark Survey Report Value
- We rely on the RIMS Benchmark Survey when evaluating our risk financing program. A portion of our Risk Management Department’s goals address how our costs and coverage compare to our peers.
-Risk Manager of an Industrial Company
- Get a Broad, In-Depth Industry View
- A single source of benchmark statistics with industry data for more than 20,000 insurance programs from 759 organizations.
- A snapshot of a constantly evolving set of market insights born out of a continuous data collection and analysis process conducted by Advisen Ltd.
- Know Where You Stand
- Compare your commercial insurance costs & coverage to your peers.
- Understand Your Competition
- Get a real-time understanding of their programs and the tools available to manage them more effectively.
- A Wealth of Data!
- Archival data and risk management information, and all-new analyses on Insurance Services, Risk Management Trends and Enterprise Risk Management Practices.
- Online Version: Make Your Data Work For You
- Store & track entire portfolios of in-force and historical insurance programs in one place and display complex programs in easy-to-understand program charts.
Industry reports for 14 macro sectors are included:
- Consumer Discretionary
- Consumer Staples
- Government and Non-profit
- Information Technology
- Non-bank Financial
- Professional Services
To order older editions of the Benchmark Survey, please contact Jim Delaney at +1 (212) 984 - 2749.
Contributor*: If you contributed your organization's insurance policy data a complimentary copy of the book will be mailed to you upon release. To order additional copies contact firstname.lastname@example.org or call +1.212.984.2749
* A contributor is a risk professional who contributed two or more years insurance policy data (including effective and expiration dates, premiums, limits, retentions and insurer names), for two or more coverage types (e.g. management liability, liability, or property). To qualify for contributor pricing when you purchase the product, your data must already have been submitted and approved as complete; data contribution must coincide with the calendar year of the book. Contribute your organization's data at www.RIMS.org/contribute.
WHY BUY THE BOOK?
|"Besides the access to independent, third-party data from a credible source? To me as a mid-sized regional agency, [The RIMS Benchmark Survey book] provides me the same national database that the national brokerages can access. Though I sometimes wonder how often they really use this type of data for clients. To me, this is just basic. It legitimizes our coverages recommendations. We espouse it at Howalt+McDowell. 'What limit of liability should I carry?' We use the book to show what others are carrying for D&O or umbrella, for example. The book is another source. It's pretty good relative to what's available. While no Benchmark survey is perfect, this data is extremely useful and handy. I am not aware of other studies like it besides what the national brokers publish on their own for certain industries".|
|Jeff Scherschligt, CEO of Howalt+McDowell|
|"The RIMS Benchmark Survey gives invaluable benchmarking information for limits and retentions. Management is always asking, 'what's everyone else doing?' This book gives us the ability to look at our industry, to look at our peer group by revenue or employees, to see what other companies are carrying or how they are structuring their programs. It also gives top management a comfort factor to know that we're not too far off the mark. We like the administrative costs section to help arrive at Total Cost of Risk, and the brokerage section is an important addition because that is a discussion that comes up every single year, and now you have something objective that you can look at…" |
|Len Resto, Director of Risk Management for Global Crossing's |