Holman Insurance Services Glossary

Here are frequently used terms in the insurance industry that may help clarify your policy.

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What is the difference between Guaranteed Cost and Alternative Risk?

A Guaranteed Cost policy – also called first dollar coverage – is fully insured by the insurance carrier.  In other words, all claims will be paid by the insurance carrier.  With an Alternative Risk policy, both the insured and the insurance company share in the cost of claims.  In this way, an Alternative Risk policy allows policy holders the opportunity to reduce their ultimate insurance cost by sharing in claims costs.

What is Risk Control and what services can Holman Insurance Services provide?

Risk Control is the method firms use to evaluate potential losses. Through past information and assessments, they can take preventative action to reduce or eliminate threats and the potential for losses. Holman Insurance Services consultants act as an extension of your own team by working collaboratively to offer practical solutions. Our program includes in-depth risk management assessments, an analysis of historical losses versus industry benchmarks and development of an action plan to reduce loss potential through best practices.

What services are offered through your partnership with ARI Fleet Management?

Through our partnership with ARI fleet management, Holman Insurance Services has direct access to innovative technological solutions for fleets. They target transportation risks by combining driver assessments, interactive web-based driver training and MVR monitoring. Telematics devices in each vehicle send driver behavior data to our dashboard, which measures individual driver and overall fleet behavior. Corrective actions, including targeted safety modules, address and correct negative behaviors before an incident occurs. This proactive approach has saved vehicle operators and carriers millions of dollars.

What insurance programs can I access through Holman Insurance Services?

Holman Insurance Services offers commercial insurance for all business needs.  We have specific programs targeted to various industries including fleet management, auto dealerships and contractors.

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Holman Insurance Services

444 E. Kings Highway
Maple Shade, NJ 08052
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2825 Lewis Speedway
Suite 107
St. Augustine, FL 32084
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(800) 200-7475
Email Us: info@HolmanInsures.com

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