The assessment, management, and loss cost containment of insured risks are long-standing objectives at Prime. Prime’s risk management department fosters mutually beneficial relationships with Prime’s insureds. Prime’s relationship with its insureds begins with an initial contact with potential insureds to convey Prime’s dedication to loss prevention and claims cost containment. Upon binding, Prime provides a copy of its Risk Management Manual that contains a general management guide and claims forms to the insured. The manual emphasizes the necessity for timely and accurately reporting claims. Larger and specialty risk insureds receive a specific hazard review and frequently receive an on-site risk management visit and subsequent risk management audits. Prime also requires each insured to identify a senior manager who is responsible for on-site risk management and safety. In addition, on-site visits are undertaken to train insureds and verify compliance with risk management procedures.

A major component of Prime’s risk management operational model is to provide focused, tangible risk management to insureds to eliminate or reduce controllable losses. Effective risk management involves identifying a limited number of core activities that historically lead to losses and working to avoid such activities. The primary activities emphasized are matters of basic common sense, safety and documentation.