Public-sector organisations are under increasing pressure to demonstrate value for money in their budgets. One area with the potential for cost savings is self-insurance – that is, retaining more of your risk and taking larger deductibles on your insurance policies. Doing so means the insurance you purchase protects against the less frequent, higher-value losses, which are more likely to cause significant harm to your organisation.
Marsh has significant experience of helping public entities better understand the funding requirements emanating from self-insurance. We help you budget prudently to ensure you have adequate funding to meet the cost of self-insured claims. Our work may also discover that you are over-reserving, providing an opportunity to release some funds to support front-line service delivery.