Insurance Solutions from Risk Reinsurance Holdings

Why you need insurance

Risk is the uncertainty of an outcome, some of which may be negative. A loss is the resulting negative outcome of risk. Insurance is how you protect yourself, your property and your assets against loss.

Insurance is the transfer of risk from one party (known as an insured) to another (known as an insurer). You are transferring the uncertainty of loss to an insurance company in exchange for a fixed insurance premium. It is a way to reduce, or eliminate, the negative consequences of risk.

An insurance contract is a promise by an insurance company to pay for the covered damages suffered by its policyholders. If a covered loss occurs, the policy will indemnify you for the damages suffered. The objective is to return you to the position you enjoyed before the loss.

Transacting insurance, and obtaining proper coverage, can have great results. If a covered loss occurs, and you are properly insured, you will have resources at your disposal to help you recover. If not, then the repercussions can be tragic, leaving you to bear the entire loss with little chance of recovery.

That is why, when dealing with insurance issues, it is extremely important to know what you are doing. A mistake can have devastating consequences. Working with insurance professionals will give you the best support while negotiating coverage. It will also give you the best opportunity to achieve the most comprehensive protection at the best value.

Risk Reinsurance Holdings, Inc. is an insurance brokerage company whose purpose is to find the right insurance solutions for you. We work with you to understand your loss exposures and the products available to cover them. We can help develop an insurance program on your behalf to provide you with comprehensive protection. Insurance may not be able to prevent a loss from occurring in the first place. However, when it occurs, insurance is the best tool to help you recover.

Risk Reinsurance Holdings’ main objectives

As insurance brokers, we act as an intermediary between you and insurers to help negotiate the terms and conditions of the insurance contract. We aim to find support from top-rated insurers offering broad coverage at competitive rates. Our objectives are described as follows:

Structure a comprehensive insurance program

Finding the right protection for you, to address the loss exposures that you face, will entail combining different types of insurance. Structuring a comprehensive insurance program is an essential element toward achieving personal or business protection. This is where an insurance broker, such as Risk Reinsurance Holdings, Inc., can help.

If you don’t have adequate coverage when a loss occurs, you may have to pay for all the damages suffered, out of pocket. The same may happen if your insurance company becomes insolvent.

There are many factors to bear in mind when analyzing the loss exposures that you face. Even more when considering the coverages, limits and policy terms needed to address them.

We bring knowledge, experience and a network of industry associates together when transacting insurance. We aim to find the best insurance solutions on your behalf.

Find competitively priced insurance support

If you are not an insurance professional, actively engaged in the industry, it is unlikely that you will understand the marketplace or know its players. Knowing who to approach for support on a given risk is an important part of transacting insurance. It can have long term implications for you or your business.

Not knowing the marketplace can lead you to purchase coverage at higher costs. Resulting in you overpaying for a product that can be substituted with equal or better alternatives. If you don’t periodically review your insurance program and the changes to the marketplace, you can overpay for insurance for many years.

Help insurers and insureds successfully write insurance contracts, observing best practices

Insurance is an industry predicated on the principle of utmost good faith. This is an obligation establishing that all parties to an insurance contract must act with complete honesty and disclose all relevant facts.

The insurance company expects to receive all the information necessary to conduct an analysis of the risk, to reach an underwriting decision. The policyholder expects that, if a covered loss occurs, he will be indemnified for the damages suffered.

If the principle of utmost good faith is breached, then an insurance contract is not worth the paper it is printed on. That is because a breach will invalidate the policy when it is called to respond.

Help achieve successful claim settlements and loss recovery

Responding to a claim is the most important instance of an insurance contract. Insurance is a promise made by an insurance company to indemnify an insured for a loss covered under the policy. The success of the industry is predicated on its ability to efficiently respond and solve claims on behalf of its customers.

The claims settlement process can be a complex endeavor. It goes through multiple stages. After a loss occurs and is discovered, the insurance company must be notified. Then the process begins. The claim must be investigated, the loss must be quantified, and the circumstances of the loss must be compared to the coverage provided. All this to determine if the loss is covered.

Claims professionals, also known as loss adjusters, and lawyers regularly become involved in the settlement process. Their expertise is needed to analyze the findings of an investigation. They will prepare a report to the insurer to help them decide how the policy finally responds.

Your insurance broker can support you throughout the claims settlement process. He can guide you as it advances to help ensure you fulfill your obligations – and your insurers theirs. He is also the point of contact between you, your insurer and all the other parties that become involved.

The insurance coverages we offer

Risk Reinsurance Holdings is an insurance and reinsurance brokerage company. We can source coverage for wide-ranging risks. If you require insurance protection, we will find the right solution on your behalf. You will find hereunder links to pages containing information about some of the products that we offer.

Where coverage is available

United States: the states where we are licensed

Risk Reinsurance Holdings, Inc. is licensed by the Florida Department of Financial Services as a general lines and surplus lines agent. We can transact insurance business throughout the state. Florida is our company’s state of domicile and where we are licensed as resident insurance agents.

We are also able to transact insurance business in other states. Risk Reinsurance Holdings, Inc. is currently licensed in New York.

Our goal is to grow our company’s footprint and expand our product offerings to more states and territories. We keep a list of the jurisdictions where we are licensed to transact insurance in our page titled “Risk Reinsurance Holdings, Inc. – Active Insurance Licenses”.

International

Through our reinsurance brokerage operations, we have the infrastructure in place to assist with international insurance and reinsurance inquiries. The insurance accounts that are transacted internationally usually entail large or very specialized risks. With the support of the insurance companies, underwriters and brokers that we work with, we can satisfy your insurance requirements in this area.

Working with us to get insurance coverage

Risk evaluation

The first step of the insurance policy procurement process is to understand the loss exposures you face. This entails an analysis of what you may need, or may be contractually required, to cover.

If you are currently insured, we look to review your insurance program to ensure it offers adequate protection. If you are not insured, we look to analyze your coverage needs and develop an insurance program to satisfy them.

Insurance proposal preparation

Once we understand your insurance coverage needs, we will work with you to assemble the information required by insurers for risk analysis. We shall help prepare the proposal, submit it to insurers and get the process underway to get the insurance coverages quoted.

Underwriting

After the information is gathered and the proposal is submitted to the insurance company, an underwriter reviews it. We work with said underwriter to make sure we have enough information to analyze the risk and set the policy’s premium, terms and conditions. If anything is needed, we shall take steps to gather the outstanding information.

Coverage intermediation

As the underwriter analyses the risk and sets the corresponding premium, terms and conditions, we strive to get the best quotes possible on your behalf. If the coverage offered is not competitive, we shall look to have the insurer improve their quote. If this is not possible, then we can look for alternatives elsewhere.

Insurance coverage analysis

When the insurance quotes are received, we review the terms and conditions proposed by the insurance company. We aim to determine if their offer provides adequate coverage at competitive rates. If the terms offered meet said criteria, we can finalize negotiations and put the policy in force. Otherwise, we will go back to negotiate and continue our search for the right insurance protection.

Insurance policy implementation

Once coverage has been accepted, and instructions to bind have been received, we shall work to get the insurance policy put in force with insurers. We shall work with them to get the contract documentation to you promptly.

Insurance policy management

Changes are not uncommon during the term of an insurance policy. We are there to ensure that the contract runs its duration smoothly. We will help resolve issues and assist with making changes that may be needed throughout the policy term.

Working with us to resolve claims

Claim submission

In the unfortunate event that a loss occurs, we are there to help you every step of the way to get the claim resolved. We will help you submit the claim to the insurance company to start the investigation and settlement process.

Claim intermediation

Once the claim is submitted, we shall work with you and insurers every step of the way to help the case move forward towards a satisfactory conclusion. When called upon, we shall work with loss adjusters and other relevant parties to do what is needed for a resolution.

Claim Resolution

Provided that all the terms and conditions of the policy were satisfied, meaning that the loss falls within the scope of coverage and is not otherwise excluded, we shall work with insurers to help get the claims settled and get you on your road to recovery.

About Risk Reinsurance Holdings, Inc.

Risk Reinsurance Holdings, Inc. is an insurance and reinsurance brokerage company. As insurance brokers, we can help you understand your coverage needs and the products that are available to address them. Our goal is to find the right insurance solution on your behalf.

Joshua S. Pestano (Insurance & Reinsurance Broker | President) is the founder of Risk Reinsurance Holdings and the person responsible for all insurance negotiations at our company. Joshua is a licensed and accredited insurance broker with 10+ years of experience in the industry.

Our company helps with insurance, reinsurance and risk management issues. We are backed by major insurance and reinsurance companies and brokers. Our infrastructure and knowledge allows us to assist with a wide range of risks.

Getting started

Negotiating an insurance contract can be a complex endeavor. The coverages you need, for suitable protection, may be segmented across different policy forms and companies. An insurance broker, like us, can be a single point of contact to achieve comprehensive protection.

Try Risk Reinsurance Holdings today. Leverage our expertise and market access to solve your insurance coverage needs. Let us help get your insurance negotiations done right. You will find options to contact us in the section below.