PRODUCT GUIDE WE HELP BUSINESS OWNERS KEEP RISK IN CHECK

Transcription

1 PRODUCT GUIDE Our purpose is to deliver business owners turnkey risk management solutions with the highest standards of integrity and compliance. Our business is to establish and manage successful insurance companies, so that our clients can continue to be successful through ever-changing economic climates. WE HELP BUSINESS OWNERS KEEP RISK IN CHECK

2 Strategic Risk Alternatives Origins Strategic Risk Alternatives (SRA) was formed to offer risk solutions to small and middle market entities by a team of insurance and finance industry professionals with over 40 years of combined experience. As the firm began to look at the captive insurance industry as a risk management strategy it quickly became apparent that many captives were, and still are, simply sold and created to take advantage of the tax code. These programs are often riddled with hidden fees, significant start up and maintenance costs, and a general lack of transparency. SRA decided to re-engineer the approach to captive insurance by developing an enterprise risk management strategy. This approach focuses on utilizing the 831(b) tax code as a risk management tool and considers the tax advantages a secondary benefit. SRA has differentiated itself by offering economical start up costs, a transparent & simplified fee structure, and consistent administrative support. New risk management strategies continue to be added to the SRA portfolio in order to help its clients further enhance the value of their products and services. 2 strategicriskalternatives.com

3 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 3 Strategic Risk Alternatives gives business owners the necessary pieces to keep their risk in check. SRA s product line consists of turn-key solutions that mitigate risk and create longterm planning opportunities for a company s future success. SRA Product Lines Enterprise Risk Management Medical Allied Reinsurance Company Custom Warranty Storage Assurance Dental Protection Plan Tenant Assurance Tax Audit Assurance

4 Enterprise Risk Management In today s ever-changing risk environment, it is critical for prosperous companies to develop a comprehensive Enterprise Risk Management (ERM) program. An effective ERM program should not only address tangible asset risks, but also intangible asset risks. It is essential to identify gaps that traditional insurance policies may have in order to protect against all potential risks a company faces. Another component of the program is to create a rainy day fund of tax-advantaged dollars. The ability to mitigate risks and build a tax-advantaged reserve are imperative for companies to be successful through ever-changing economic climates. Types of Risks Identified Supply Chain Interruption Contingent Business Interruption Brand Protection Unauthorized Access Food Borne Illness Product Recall Professional Liability Dispute Resolution Political Risk Tax Audit 4 erm.strategicriskalternatives.com

5 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 5 Strategic Risk Alternatives goal is to mitigate the many risks facing business owners in today s ever-changing climate. Addressing these risks properly allows owners to operate their businesses more efficiently.

6 Medical Allied Reinsurance Company (MARC) Healthcare costs continue to rise and prove to be a burden on companies bottom line. For businesses currently participating in a self-funded plan, or wanting to adopt one, the MARC is a bolt-on that allows companies to stabilize premium rates, mitigate max claims expenses, and better leverage the advantages of a self-funded plan. MARC Benefits Helps manage the risks associated with self-funded healthcare plans Stabilizes healthcare premium rates Accumulates reserves that are tax-advantaged Allows business owners to take more control of employer healthcare plans 6 marc.strategicriskalternatives.com

7 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 7 A Medical Allied Reinsurance Company is a turnkey program that helps business owners of all sizes maximize the benefits and minimize the risks of implementing a self-funded health plan.

8 Custom Warranty Program Warranties are a valuable tool to distinguish a company amongst its competition and to signal its service or product quality. Whether your company already offers a warranty program, or is considering offering one, SRA brings valuable tools to maximize the benefits of implementing such programs. A custom warranty program designed by SRA develops new revenue streams, leverages an insurance company in order to maximize benefits, and generates goodwill with current & prospective customers. Custom Warranty Program Benefits Provides customers a limited warranty designed to fit your business s needs Helps attract new customers and retain existing ones Builds a tax-advantaged reserve to honor warranty costs 8 cw.strategicriskalternatives.com

9 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 9 The Custom Warranty Program is modeled after those used in other industries and designed to fit the specific products and services our customers offer.

10 Storage Assurance Storage facility owners are looking to increase customer retention by offering added benefits to their customers. Companies must develop competitive advantages to secure assets and differentiate from competitors. Storage Assurance is a turnkey solution for storage facilities that allows owners to offer a damage waiver and SRA s coverage at appropriately determined rates. Storage Assurance Benefits Eliminates the need to offer third party insurance products Adds value to existing customers Distinguishes self-storage facilities from competitors Accumulates a tax-advantaged reserve to honor claims and earn additional profits 10 sa.strategicriskalternatives.com

11 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 11 Storage Assurance is a custom program designed for tenants. This strategy empowers storage unit owners with the knowledge and guidance to help manage tenant risks and customer relationships more effectively.

12 Dental Protection Plan The Dental Protection Plan is a limited warranty program modeled after those used in other industries and applied to specific dental products. Some dental practices offer their own warranty program; typically these are not properly defined and miss a key advantage of owning and operating an insurance company that can honor the warranty program with tax-advantaged dollars. Dental Protection Plan Benefits Choose the length of the warranty and how warranty costs will be administered Define the terms of limited warranty Attract new patients and retain existing ones Build a tax-advantaged reserve to honor the dental warranty 12 dpp.strategicriskalternatives.com

13 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 13 The Dental Protection Plan sets dental practices apart by offering a defined warranty. Growing competition has made customer retention increasingly difficult and patients are looking for added benefits when choosing a dental practice.

14 Tenant Assurance Property owners rely on the tenant to maintain adequate renters insurance to protect not only the tenant s personal contents, but to ensure that any damage done to the rental property is covered by the liability policy. Although many property owners require some form of liability insurance, it is nearly impossible to enforce. The Tenant Assurance program was created with this in mind. Tenant Assurance Benefits Eliminates the need to offer third party insurance products Adds value to existing customers Distinguishes rental properties from competitors Accumulates a tax-advantaged reserve to honor claims and earn additional profits 14 ta.strategicriskalternatives.com

15 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 15 The Tenant Assurance program allows property owners to own and operate an insurance company; allowing them to build tax-advantaged reserves. At the same time, the owner creates a powerful marketing tool that not only adds value to current tenants, but also entices new tenants.

16 Tax Audit Assurance The Tax Audit Assurance program allows CPA s to waive the fees that are charged to clients for additional work resulting from an audit, inquiry, investigation or review conducted by the Internal Revenue Service (IRS) and other relevant government agencies. SRA s program gives CPA firms the ability to offer their own audit protection; modeled after others offered in the tax preparation industry. Tax Audit Assurance Benefits Allows a CPA firm to build a tax-advantaged reserve to honor claims Limits the amount charged to clients for additional work Instills confidence among the firm s clients 16 tax.strategicriskalternatives.com

17 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 17 The Tax Audit Assurance program is an added benefit to current clients and can be used to attract new prospects.

18 Why Strategic Risk Alternatives The middle market consists of many successful enterprises, joint ventures and family operated businesses. These middle market companies require the same financial security and risk management tools that are available to larger companies, such as members of the Fortune 500, but at a more reasonable cost and simpler processes to establish & maintain these programs. The reinsurance program developed by Strategic Risk Alternatives allows middle market business owners to allocate risk more effectively, protect their assets and meet their financial goals. These business owners come from a variety of industries, including agriculture, manufacturing, healthcare and retail. The path to total risk management is guided by minimizing risk while maintaining cash flow, customer satisfaction and your position in the marketplace. Strategic Risk Alternatives maps the safest route toward a secure financial future for your company. Let us show you how. 18

19 WE HELP BUSINESS OWNERS KEEP RISK IN CHECK 19 Why Work With Strategic Risk Alternatives? Owned and operated by experienced insurance professionals Focused on risk management first and the 831(b) tax code advantages as a secondary benefit A conservative approach to determining premiums & insurable risks Has a network of tax and law professionals proficient in the 831(b) tax code Dedicated support throughout the formation and renewal process Will work closely with client s trusted advisors

20 strategicriskalternatives.com