Risk International Celebrates 25 Years

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Risk International celebrates 25 years of helping clients reduce risk and save or recover millions of dollars.

Risk International Celebrates 25 Years

Risk International Celebrates 25 Years

According to the Small Business Association, 75 percent of new businesses fail to survive 15 years. We’re proud to be going strong in our 25th year.

Today, Risk International, one of Business Insurance Magazine’s top three risk management consulting companies in the U.S., celebrates its 25th anniversary. Among other independent risk management providers, the Company’s experience with Fortune 200 clients is unmatched, primarily serving the aerospace, chemical, manufacturing, energy, health, oil & gas, and professional services industries.

Since 1986, clients have relied on Risk International to provide outsourced risk managers, insurance and risk management consultants, claims experts and insurance archeologists to help reduce risk and its related costs. Most clients have:

  •     Reduced their total cost of risk by 50 percent in just four years with Risk International
  •     Achieved more than 200 percent return on investment from our risk management services

“According to the Small Business Association, 75 percent of new businesses fail to survive 15 years,” said Kirk N. Walsh, Vice President, Risk International. “We’re proud to be going strong in our 25th year, thanks to our exceptional employees who uphold the values of our organization and who serve our clients with energy and integrity. In my opinion, our longevity comes down to an ability to provide a critical service at a fair price and a willingness to serve others first.”

Company History

Risk International began as the risk management department for Zapata Corporation, an offshore oil drilling and marine services company. To help Zapata reduce costs and have more financial flexibility, the department separated from the company in 1985, yet continued providing it with risk management services.

As a full-service, outsourced risk management department, the new Risk International Services, Inc. began supporting other companies, including its second major client, Goodrich Corporation. Zapata and Goodrich remain clients today – along with a long list of Fortune 500 and mid-sized organizations worldwide.

“We have worked with Risk International as a member of our global treasury and risk management team for over two decades,” said Scott E. Kuechle, Executive Vice President and Chief Financial Officer, Goodrich Corporation. “They consistently perform their role ethically, expertly and efficiently. Our team at Risk International is clearly committed to our success and consistently delivers added value to Goodrich.”

According to Douglas L. Talley, Chairman, Risk International, “For 25 years, keeping the customer first has been the core of everything we do. This, combined with our focus on quality, has given clients an attentive, experienced team that provides risk management services of the highest caliber.”

And that philosophy offers an even greater value to clients than just lower risk.

“Risk International provides expert counsel and behaves more like an employee/owner than a supplier,” said Robert Patterson, Executive Vice President and Chief Financial Officer, PolyOne Corporation. “I sleep better at night knowing they are looking after our risk management activities.”

Achievements

Simply put, well-managed risk costs less. Over 25 years, Risk International clients have:

  •     Recovered or rediscovered more than $41 billion in lost or misplaced insurance policies
  •     Saved or reduced their total cost of risk by more than $750 million
  •     Collected more than $560 million in recovered claims

That success helped Risk International grow by 77 percent from 2005 to 2009, earning the company acclaim as one of the Weatherhead 100 fastest growing companies in Northeast Ohio.

The company’s core business grew by another 14 percent from 2009 to 2010, spurring the opening of a London office in 2009 and a Singapore office in 2011.

“We grew much faster during the recent economic downturn because our risk management services were needed more than ever before,” said Michael D. Davis, President and Chief Executive Officer, Risk International. “We helped new clients – global firms with intense cost pressures – cut their cost of insurance while reducing risk. Current clients added services to ensure their risks were managed appropriately. We look forward to continuing this growth over our next 25 years and expanding our presence in the global marketplace.”

About Risk International
Risk International is a risk management consulting company that helps client companies worldwide reduce risk and its costs. With our consultants, risk managers, claims experts and insurance archeologists, clients can outsource some or all of their risk management functions.

Founded in 1986, the company has helped clients save or reduce the cost of risk by more than $750 million.

One of the top three risk management consulting companies in the U.S., according to Business Insurance magazine, Risk International is a 4-year recipient of the magazine’s Silver Circle Award for service, value, quality and innovation.

Risk International is headquartered in Fairlawn, Ohio, with offices in Charlotte, N.C., London and Singapore. The firm has been named one of the Weatherhead 100 fastest growing companies in Northeast Ohio.

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Randall Davis
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