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Insurance & Risk Management Services, LLC (IRMS), a division of Plews Shadley Racher & Braun, provides insurance and risk management consulting services to its clients. Kevin Thompson, MBA, JD, of counsel to PSRB, is president of IRMS.

IRMS provides risk assessment services for its clientele and makes specific recommendations to improve or otherwise enhance the property and casualty insurance coverage.

As insurance markets continue to evolve, insurance premiums escalate, and policy terms and conditions become more restrictive, successful enterprises must focus on opportunities to develop the most cost-effective risk management programs. IRMS will help develop a customized plan.

Kevin Thompson asserts, “Clients typically receive multiple returns (5-10 times) on their investment in IRMS' services.” In addition, significant savings allow IRMS clients to secure better limits of coverage and improved terms and conditions for their premium dollars.

The need for sound risk management advice has never been greater.

Rick Schweitzer, President of Superior Petroleum in Crown Point , Indiana , stated, “They basically opened the doors to other insurance providers and educated us how to evaluate competitive products.” He added, “At the end of the day, IRMS' assistance significantly impacted what might have otherwise been a dramatic increase in our renewal premiums.”

“We work closely with our county commissioners, sharing office space and resources in several areas,” said Rebecca Baugh, Director, Brown County Solid Waste Management District. “Kevin researched our insurance coverage to make sure each entity had policies to protect its respective interests. As a result of Kevin's review, which included a formal presentation to the commissioners, we made changes that benefited both parties.”

IRMS serves virtually all organizations needing property casualty insurance:private industry, municipals, and not-for-profits.

The comprehensive insurance services provided by IRMS include:

Insurance Policy Review, Coverage Overlap and/or Gaps
Renewal Oversight and Assistance
Review of Insurance Program Structure
Analysis of Coverage Terms and Conditions
Retention Analysis
Negotiation of Third-Party and Other Service Agreements
Loss Run Analysis
Claims Review and Training
Catastrophic Claims Management
Third-Party Referrals, As Needed
Properties/Casualty Agency Selection
On-Going Commercial Insurance Agency Interface

Prior to joining Plews Shadley Racher & Braun, Kevin served as Director of Corporate Risk Management for Eli Lilly & Company at its corporate headquarters. Kevin's experience prior to Lilly included risk-management responsibilities for Mayflower Group, Inc., a global transportation company; Chief Financial Officer and Treasurer for Monroe Guaranty Insurance Company; and financial and budget analyst responsibilities for Chrysler Corporation. Kevin's diverse background and experience provides the foundation for a unique perspective concerning complex property/casualty insurance matters. This experience translates into a comprehensive and thorough review of insurance issues resulting in significant benefits to the client.

For more information on our risk-management services, contact Kevin Thompson at (317) 637-0700 or e-mail kthompson@psrb.com.

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