Transportation Risk Management

MFGunderstands the unique demands and exposures for transportation companies and their owners. Our service platform for the Transportation industry tailors a program designed to fit your unique needs. For your risk transfer resource, contact a MFG risk consultant for more information about developing or enhancing your risk management program. The structure of your risk management program should look to the endgame – your price. To reach that goal, we help you to:

  • Analyze your exposures
  • Implement controls to those exposures
  • Determine risk transfer or financing options
  • Manage current and future exposures

MFG Insights

    Total cost of risk in insurance terms describes the cost of both pure and speculative risk. It is synonymous with the price of your risk management program. For example, if you are faced with a union strike, how do you estimate losses? It is difficult, at best, to quantify this scenario. In contrast, other components of your cost of risk are easily calculated, such as insurance premiums or claims for on-the-job injuries. Managing your total cost of risk should be an integral part of running your transportation or warehousing business.

    What Keeps You Up at Night?

    As part of our Advance365 risk management process, we confirm that your risk management approach supports your overall business objectives. We want to know what keeps you up at night. If that concern happened, how would your income or cash flow be affected if there were unforeseen depletions of capital or a shutdown? Discussing the qualitative aspects of your business provides the important details needed to solidify the game plan to your endgame – price. Exposures are both qualitative and quantitative. Analyses into both offer the foundation for developing forward-thinking approaches to those exposures.

    What is your viewpoint on risk? Is your company risk-averse? Is it in a financial position to take on more risk versus transferring that risk to another party or contractually to a carrier? We work with you to determine where you are at on the risk scale.

Any Questions? How can we help?