Cost of Insurable Risk (COIR)
Echelon’s robust COIR analysis empowers organisations to make informed decisions about their insurance risk management strategy.
COIR is the cost incurred by a business to deliver an effective insurance risk management strategy. These costs include insurance premiums, the anticipated cost of retained losses and the other costs associated with the administration of the insurance programme, including internal and external risk management costs.
Understanding COIR is important: a focus on insurance premiums alone does not give an accurate picture of the costs of an insurance programme.
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