RISK MANAGEMENT SERVICES

Managing risks in today’s environment can be challenging since many businesses discover increasingly evolving risks almost on a daily basis. Sea Island Teamworks is dedicated to assisting you to determine your organization’s business risks and to determine “what’s insurable and what’s not”. For those insurable risks, Sea Island can help to determine if you want to insure them or mitigate the risks in other ways. We spend time with you to discuss and determine your organization’s appetite for risks. If you decide to insure some risks exposures, we can assist you with finding an insurance broker partner who can place coverage for your organization. Sea Island can facilitate by helping to identify insurance coverage limits, gathering data from internal sources and completing insurance applications for the package your broker will need to market your program to prospective insurers. We can also review the proposed insurance program, once presented by your broker, before you bind the final program.

TREASURY MANAGEMENT

SeaIslandTeamworks provides functional experience and expertise to help your organization define and achieve its treasury goals, whether through our consulting practice or our outsourcing services. Our solutions are tailored to fit the needs of your organization.We can perform a full review of all treasury functions, concentrate on a specific area or need or focus somewhere in between.

Sea Island offers consulting and assistance with the following treasury services to facilitate working capital and liquidity management in your organization.

OFFERED SERVICES

Insurance Broker Management

Insurance broker monitoring, reviews, evaluation, RFP’s, proposal review and broker selection

Insurance Program Structure

Having adequate insurance coverage is an extremely important factor to consider with respect to managing risks. SeaIslandTeamworks can review your insurance program’s coverage, terms & conditions and policy limits for the following types of insurance programs to help you to determine if your organization has sufficient insurance given your risk tolerance levels.

Property & Casualty
Workers Compensation
International Casualty
Media Liability
Cyber Liability
Errors & Omissions
Executive Liability
- Directors & Officers Liability
- Employment Practices Liability
- Kidnap & Ransom
- Fiduciary Liability

Insurance Renewal Management

Although the annual insurance renewal process is very important, collecting, consolidating, organizing and analyzing data, especially across an organization’s various business units can be extremely time-consuming, yet necessary to provide accurate and thorough enough information to prospective insurers in order to provide the best coverage terms and program pricing. Sea Island Teamworks can assist your company with data gathering, organization, and assessment. We can work with you or directly with your broker to provide the information needed by the broker to better market your program to prospective insurers. Once bids are received, we can assist you and your broker determine the best coverage terms, conditions, limits and pricing given your organizations budgetary constraints, if any.

Claims Management

Sea Island Teamworks can work with, or coordinate with, brokers, insurers, legal counsel, audit, accounting staff and counterparties to manage and track the status of outstanding insurance claims. We can assist with data collection, information calls and meetings and review settlement proposals.

Business Continuity Planning(BCP) & Disaster Recovery Planning (DRP)

Planning for business contingencies and for the resumption of business operations after a disruptive event are essential to the future of a business. Sea Island Teamworks can assist your organization develop BCP and DRP frameworks and plans for business contingencies and post disaster recovery. We can work cross functionally with your organization’s business units and corporate entities to determine the most critical operational functions and prioritize those most critical operations for BCP and DRP planning and where resources would be best deployed initially. Planning would entail the determination of some of the following:

Temporary displacement of employees
Temporary office space, data centers, etc.
IT planning (back-up systems)
Emergency contacts (internal and external)
Internal (executive management, employees) & external (customers, media, etc.) communications
Operations planning (IT, Sales, Marketing, Legal, Finance, Human Resources, Customer Service, Business Units, etc.)
External resources (vendors, suppliers, utilities, landlords, etc.)

Mergers& Acquisitions

Mergers and acquisitions can bring a unique set of risk management challenges. Risk management at acquired or merged companies may be managed in a manner different from the acquiring company since risk tolerance varies amongst differing businesses even within the same industry. SeaIslandTeamworks can assist with the following:

Determination of acquired or merged company risk management practices
Determination of loss exposures and potential challenges
Acquisition of insurance policies and other documents
Determination of property locations
Review and status of outstanding claims
Review of insurance programs and feasibility of amending, incorporating into acquiring company’s program or cancellation
Review of risk exposure in contracts (insurance clauses)
Review of policies and procedures to determine compliance with acquiring company’s requirements and notification to insurers
Review of M&A Agreement for D&O and E&O liability insurance requirements

CONTRACT REVIEWS

Contracts can include provisions on indemnification, limits on liability, and insurance requirements that may not be in line with the risk tolerance levels of your organization. In fact, some contractual obligations may not align with your company’s insurance coverage. At times your broker may be able to assist; however, due to the time involved with contract reviews, many brokers are not adequately staffed or equipped to perform such type reviews. Sea Island Teamworks can work with your organization’s legal and business units, as well as, with contractual counterparties to review proposed contract language, terms & conditions and clauses, taking into consideration your company’s risk tolerance. We specialize in the review of the following types of contracts and agreements:

Property leases (offices, data centers, co-locations, etc.)
Equipment leases (office, IT, network, servers, etc.)
Partnership agreements (advertising, media, content, etc.)
Vendor and business services (supplies, maintenance, etc.)