Minimizing Risk by Maximizing Awareness

It's often said that the best defense is to play offense. In business, this means assessing your potential risks and being prepared for all eventualities. Millhiser Smith has partnered with many companies over the years, carefully choosing those that best represent client needs. Rely on our experience to help you reduce your exposure to risk.

Risk management is the identification, assessment, and prioritization of risks. It then involves the coordinated and economical application of resources to minimize, monitor, and control the probability and impact of losses.

Effective risk management activities create value and should be an integral part of your decision-making process. How does risk management impact your bottom line? Risk management provides the:

  • Opportunity for better pricing on insurance premiums
  • Chance to save out-of-pocket costs, like deductibles
  • Ability to ensure a safe and stable environment for employees, volunteers, and customers
  • Information to help you understand and be prepared for risks before losses occur

The insurance professionals at Millhiser Smith Agency have a variety of resources to help you build an effective risk management program. Contact us today to learn more.


Our DISCOVERisk approach is a four-step process utilized by Millhiser Smith to identify, understand, implement, and monitor the risk management strategies for you and your business. Here, we briefly examine those four steps.

risk management cedar rapids iowa

Step 1 - Identify Exposures

During this crucial initial phase, we will invest the time to understand every facet of your business to help you and your team identify your business risks. By evaluating the effectiveness of risk management programs, practices, and resources under "real world" conditions, we assure that your assets receive precisely the right type of protection.

Step 2 - Define Strategies to Handle Risk

Once we have developed a thorough understanding of your business – including your industry, corporate culture and operating procedures – we are ready to move beyond insurance, exploring a spectrum of proven alternative strategies to minimize risk and reduce insurance costs.

Step 3 - Implementation of Programs

During the implementation process, we establish tailored programs and strategies designed to protect your assets while reducing insurance costs. A strong belief in our process motivates underwriters to offer much lower insurance costs on your behalf.

Step 4 - Ongoing Monitoring and Adjustment

You and your business are dynamic – what works for you today might not work as well tomorrow. For this reason, we will continue to monitor and adjust your risk management programs to ensure a perfect fit as your business evolves and changes.

Call a Millhiser Smith Risk Consultant today at (319) 365 - 8611 or complete the form below to find out if DISCOVERisk is right for you.

IQRM™ – Intelligence Quotient for Risk Management™

IQRM™ is a quantifiable risk assessment tool consisting of a systematic method to better understand the risk issues facing your organization. It benchmarks performance against ideal industry standards, introduces best practices to mitigate risk, and leads to an action plan for risk profile improvement.

Each IQRM is crafted by one or more subject matter experts:

  • Business Continuity Crisis Management
  • Claims Management
  • Cyber Liability
  • Directors & Officers
  • Discipline & Termination
  • Employment Practices Liability
  • Environmental Liability
  • Fleet Safety
  • General Liability
  • Pre-Employment Screening
  • Product Contamination and Recall
  • Products Liability
  • Professional Liability
  • Recruitment Selection and Hiring
  • Substance Abuse
  • Wage and Hour
  • Workers Compensation
  • Workplace Discrimination
  • Workplace Sexual Harassment
  • Workplace Safety

Risk Review

Now you can gain valuable insight into your business operations and workers' compensation losses. If you have a basic understanding of how an experience mod is calculated, you can use a few simple equations to gain a deeper understanding of the factors contributing to your mod factor and the Top 10 Ways to Control your WC Mod.

Contact a Millhiser Smith risk consultant to learn more about how our risk management services have helped our clients become safer, healthier and more profitable.

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