The annual RIMS Benchmark Survey, produced with Advisen Ltd., is a single source of benchmark statistics with industry data for more than 5,000 insurance programs from hundreds of organizations – including the programs of hundreds of Fortune 500 companies. It chronicles the evolution of corporate risk management costs and tracks changes in insurance policy renewal prices as reported by North American risk managers.

The 2019 RIMS Benchmark Survey will present a snapshot of a constantly evolving set of market insights born out of a continuous data collection and analysis process conducted by Advisen Ltd.

TCOR is the cost of insurance, plus the costs of the losses that are retained, and the administrative costs of the risk management department. As the insurance market becomes increasingly competitive, risk managers are turning to TCOR benchmarking as an important strategy to design and evaluate their organizations’ risk financing programs.

The average cost of total risk (TCOR) has risen and fallen a number of times over the past decade, but the general trend has been downward. TCOR has steadily fallen since 2013 driven largely by a competitive market and increased administrative efficiencies. Did this downward trend continue in 2018? Find out in the 2019 RIMS Benchmark Survey.

For more than two decades, the RIMS Benchmark Survey has been offering insurance professionals a wealth of statistical information that allows them to compare their program to similar companies. The annual survey monitors changes in insurance risk costs and financing methods as reported by North American corporate risk managers. It enables risk professionals to accurately set expectations and achieve goals while designing competitive insurance programs for their organizations.

Purchase a copy of the 2019 RIMS Benchmark Survey. Be among insurance professionals who are becoming more proactive and are leveraging tools, like the data we are gathering continuously.