Integrity. Transparency. Accountability. Reputation.
OUR MISSION
We guide and advise clients and strategically lead their efforts to mitigate, reduce and manage risk while optimizing capital utilization and balance sheet protection.
We are subject matter experts in Enterprise Risk Management, Construction, Real Estate, Project Risk and Insurance.
We guide the way.
Beacon Risk Solutions can help you strategically navigate four different risk quadrants.
Project Risk – Construction & Development
Contract review and understanding the stakeholder’s business is the foundation of risk mitigation and management between Builders, Contractors, Owners, Developers, Architects, Engineers and Lenders. The goal to be on time and on budget with an asset put to its intended revenue generating use is paramount.
Safety and Loss Control play a critical role in managing the Total Cost of Risk (TCOR). Losses are the variable component that drive the lion’s share of the insurance premium. Identifying root causes of loss and eliminating them in both frequency and severity will result in a more favorable project and avoid profit fade.
An alternative risk finance structure as a long-term strategy will often yield the lowest possible risk expense. The use of data and analytics are proven techniques to forecast and implement positive outcomes.
Real Estate - REITs, Developers
Differentiating the risk profile for each portfolio asset is critical to securing the most favorable underwriting terms and conditions, also attracting investors. Key goals of Real Estate are Cash Flow, Return on Investment (ROI) and Net Operating Income (NOI). An Enterprise Risk Management (ERM) holistic approach will yield lower operating expenses resulting in a positive financial picture. Due diligence is key to positioning an organization for success. Components of the process include risk assessment, coverage analysis, distribution of risk and identification of catastrophe (CAT) exposures. Balance sheet protection is addressed by a granular evaluation of capital- risk optimization. The industry has developed alternative risk finance and creative solutions including parametric. Many of the noted tools are essential to productive M&A activity.
Performance Security – Surety and Subcontractor Default Insurance (SDI)
Subcontractor and supplier risk management can be the difference between profit preservation and timely project close-out versus delay and default leading to disputes. Pre-Qualification (financial & safety scoring process) is essential for avoiding cost overrun, delay and default. Operational analysis including root cause for losses and defaults are prudent. We work with clients on internal controls as a risk mitigation strategy. Financial underwriting considerations including key ratios. Evaluate alternative structures and solutions outside of traditional Performance and Payment bonds. Review of bond form and indemnity agreement consistent with contracts is important. A proactive risk tool is the distribution of contracts by value, number, scope and aggregation.
Supply chain resiliency and vulnerability assessments are critical to business success, particularly in a global environment, trade tariffs and unprecedented pandemic.
Vetting technology in-house vs 3rd party for major investment decisions will have a long-term impact on ERM.
Environmental
Many sites have known and/or unknown environmental conditions that are not budgeted. Research through Phase 1 & 2 studies as well as geotechnical reports help to reduce uncertainty during site selection, acquisition, and development. This information along with risk transfer solutions for deal facilitation may be the deciding factor to move forward or walk away. Solutions include Contractor’s Pollution Liability, Pollution Legal Liability, Lender securitization and others.
Hospitality
Hospitality along with Transportation have been the most negatively impacted industries during the 2020 global pandemic. Resiliency is at the top of many Board level discussions. Strong Business Continuity plans and broad Business Interruption coverage are crucial to minimizing economic losses. In addition to revenue losses, organizations are focusing greater attention to workplace safety, ergonomic and health concerns. Underwriters are revisiting program structure for relief to Hospitality clients and their on-going success if detailed compelling data is presented. Granular analysis of property primary and secondary risk factors are required to achieve the best possible capacity, retention and pricing considerations.
Who we are
Beacon Risk Solutions Group is an Enterprise Risk Management (ERM) Consulting company with complete independence from insurance brokers and underwriters. We serve our clients as an advocate providing strategic and proactive advice for their unique business needs. Our industry specialization is in Construction, Development, Real Estate portfolios, Hospitality, Performance Security, Environmental and Design Professional. Beacon works with C-Suite leadership collaborating with decades of expertise and analysis to drive results on balance sheet protection, improved margins, profit preservation, value creation and risk & capital optimization decisions. Business resiliency and continuity are at the forefront of an ever-changing economic environment faced with emerging and evolving risks.
INTEGRITY
Honesty, trustworthy and commitment in always doing what is best for clients.
TRANSPARENCY
Open sharing of complete information and communication.
ACCOUNTABILITY
Responsibility for the outcomes transforming effort into results.
REPUTATION
Experience and loyalty to your business to bring meaningful value.
INNOVATION
Embracing positive change and ideas to improve efficiency, effectiveness and processes for competitive advantage and bottom-line performance.
Our services
Enterprise Risk Management (ERM)
Outsourced Risk Management
Risk Assessment, Identification, Quantification
Due Diligence
Lender and Private Equity Requirements and Negotiation
Risk & Capital Optimization
Alternative Risk Finance and Program Design
Loss Forecasting and Stratification
Collateral and Impact of Loss Liquidation Rates
Return on Investment (ROI) Analysis
Claims Resolution and Reviews
Third Party Administrator (TPA) Process and Results
Coverage Analysis
Broker Selection – RFP and Interviews
Risk Mitigation
Business Continuity
Disaster Recovery
Business Interruption and Economic Loss
Governance, Regulatory and Compliance (GRC) Programs
Cyber Risk