CONSULTANCY RISK MANAGEMENT … THE CONCEPT
Risk management includes all activities, conscious or not, directed toward the control of static risk. ("Static" risk contemplates only the possibility of loss, as opposed to "dynamic" risk which also anticipates the potential for gain.) The objective of risk management is to reduce the ultimate cost of static risk by techniques designed to eliminate or reduce the number of losses and/or their financial impact on the enterprise.
In large companies, specialists in risk management provide advice to top management, as well as handling the day-to-day administration of the Risk Management and Insurance functions. Smaller companies rely on the Chief Executive Officer and/or the Chief Financial Officer to perform these functions.
The concept of Consultancy Risk Management recognizes the needs of smaller companies for:
On behalf of the professionals affiliated with Fortune Risk Management, Inc; I invite you to contact us if we can provide more information or be of assistance to you.
Fortune Risk Management, Inc. 9000 W. Sheridan Street, Suite 149 Pembroke Pines, FL 33024 (954) 436 7384FAX (954) 436 7385
E-Mail: info@FortuneRiskManagement.com
WHO WE ARE
Fortune Risk Management, Inc. was organized to offer professional risk management counseling on a "part time" or consultancy basis to business and other organizations. Our objective is to offer our clients a high level of sophistication in risk management skills on a cost effective basis.
David E. Fortune, the founder of Fortune Risk Management, Inc. became aware of the need for independent services to clients in risk management while working for a large insurance brokerage firm. He founded a similar consulting firm in Kansas City in 1978, sold it and moved to Florida in 1986.
From 1986 to 1981 he worked as Director of Insurance and Claims for a $5 billion highway transportation and leasing firm. Since 1991, when he established Fortune Risk Management, Inc. Fortune has been providing independent consulting services, primarily to South Florida based clients.
Fortune Risk Management, Inc. primarily seeks to serve those clients who are without professional risk management staff. However, we also perform risk management audits, special projects and studies for organizations with in house risk management capabilities.
Fortune Risk Management, Inc. will continue to develop new services and approaches to meet the changing needs of our clients.
RETAINER RISK MANAGEMENT SERVICES
FEATURES:
DESCRIPTION:
An experienced risk management consultant is permanently assigned to each client to coordinate all of the various elements of the risk management program. The consultant will interview key staff and administrators and evaluate the present program to get recent history and current status.
The evaluation will include both internal systems (organization, methods and procedures, record keeping, loss control, reporting methods and budgeting) and external systems (brokers, insurance companies, service companies of various types and other external components). Problem areas will be pinpointed and alternative solutions developed to solve them. Our consultants work on a retainer, by the project, or on an hourly basis.
Total costs vary with the client, size and scope of the project, current level of risk management sophistication, and the time and travel needed to complete the assignment. We typically make our proposals with a maximum cost lid so that clients know, in advance, maximum possible costs.
SPECIAL PROJECTS SERVICES
INSURANCE SPECIFICATION PREPARATION AND MARKETING
FEATURES:
DESCRIPTION:
Insurance, like many other disciplines, has developed its own lexicon. We address underwriters in their terminology, and focus on their concern. This approach consistently produces superior results in both coverage and pricing for our clients.
MERGERS AND ACQUISITIONS
FEATURES:
DESCRIPTION:
Coordination of merger activities in connection with the risk management and insurance programs to take advantage of synergistic conditions and to recognize, then reduce or eliminate problems at the earliest possible moment, and at the lowest cost.
STAFF TRAINING
FEATURES:
DESCRIPTION:
Programs are designed and scheduled around your specific needs. Classes generally take a seminar form with individual instruction where needed. Advanced training can de designed or special topics addressed upon request.
RISK FUNDING ALTERNATIVES
FEATURES:
DESCRIPTION:
Comparison of available alternatives with discussion of pro’s and con’s of each and recommendations.
INDIVIDUAL COUNSEL
FEATURES:
DESCRIPTION:
Individually designed solutions to specific problems and/or opportunities. Typically this level of service is most utilized by firms who have risk management personnel on staff to complete special projects with short-range deadlines; to fill in for absent staff, to help handle temporary work overloads, or to advise client in specialized areas outside the client’s area of expertise.
ABOUT US
DAVID E. FORTUNE, CPCU, CLU, ARM
EXPERIENCE:
CURRENT:
1991 - Present FORTUNE RISK MANAGEMENT, INC. PEMBROKE PINES, FL.
PRESIDENT AND PRINCIPAL CONSULTANT
A consulting firm formed to provide professional risk management and insurance advice and services to businesses and institutions principally in south Florida.
PAST:
1985 - 1993 THE BAR PLAN MUTUAL INSURANCE COMPANY ST. LOUIS, MO.
DIRECTOR
This insurance company provides professional liability insurance to approximately 5000 Missouri attorneys, and is endorsed by the Missouri Bar Association. Resigned 10/1/93.
1986 - 1991 RYDER SYSTEM, INC. MIAMI, FL.
GROUP DIRECTOR, INSURANCE AND CLAIMS - VEHICLE LEASING AND SERVICES DIVISION
A $5+ billion highway transportation subsidiary of Ryder System, Inc. Responsible for handling and pricing all third party liability insurance and settling all claims for a fleet of 150,000 vehicles in the United States, Canada, and the United Kingdom. Duties included managing a staff of 75 employees, $125 million of revenue, $16 million expenses, and 25,000 claims annually at a cost of over $100 million.
1978 - 1986 FORTUNE & COMPANY/RISK MANAGERS, INC. LENEXA, KS.
CHIEF EXECUTIVE OFFICER and PRINCIPAL CONSULTANT
Founded and managed a risk management and insurance consulting practice specializing in providing continuing service to medium sized business. In addition, performed special project work for large public and private entities, authored a bi-weekly column on Risk Management for the Kansas City Business Journal, acted as an "expert witness" in cases dealing with insurance coverage and insurance agent's responsibilities to clients, and taught Associate in Risk Management (ARM) courses.
1977 - 1978 AGENCY SERVICE COMPANY, INC. KANSAS CITY, MO.
VICE PRESIDENT, MARKETING
Responsible for sales management, market and product development.
1968 - 1977 R.B. JONES CORPORATION (Now part of AON Corp.) KANSAS CITY, MO.
VICE PRESIDENT and MANAGER, CONSTRUCTION INDUSTRY SERVICE UNIT
This insurance brokerage firm was ranked # 8 prior to merging with A&A (# 2). Managed the Construction Industry Service Unit of R.B. Jones Corporation. Prior to that assignment, was responsible for sales and service to the Liquefied Petroleum Gas (LP Gas) industry, countrywide.
1964 -1968 ROYAL INSURANCE CLEVELAND, OH. and KANSAS CITY, MO.
UNDERWRITER
After a one year training period, transferred to Kansas City as a Casualty Underwriter. Subsequently became a Multiple Line Underwriter and was then promoted to Special Risk Underwriter (Large Accounts).
EDUCATION: ASSOCIATE in RISK MANAGEMENT, (ARM) 1982
CHARTERED LIFE UNDERWRITER, (CLU) 1980
CHARTERED PROPERTY CASUALTY UNDERWRITER, (CPCU) 1974
KENT STATE UNIVERSITY, BA in Pre-Law Studies, 1964
AFFILIATIONS:
Society of CPCU
Society of Society of Financial Service Professionals (CLU)
Society of Risk Management Consultants