Overview

ESP, LLC was born out of a need for a method of administering insurance systems and providing an unbiased third party to analyze and make recommendations about Property & Casualty as well as Employee Benefit insurance programs. Many public entities find that although they have tremendous risks and assets, there is not enough revenue to justify the cost of hiring an experienced, full time person. For this reason, many turn to local agents or someone who used to be “in the business” for advice. While local agents have the best of intentions, and in most circumstances the knowledge to assist, there remains a problem with conflicts of interest and bias as the agents are typically paid by the insurance companies they recommend. In many cases, public entities assign the task to someone in their administration department. This person could realistically be much more productive doing that which he or she is more qualified and motivated.

The insurance industry is so complex and ever changing that what was good advice last year or even last month could cause serious problems for the entity if applied to a current situation, which is why it is a good idea to have someone who is plugged in to the heartbeat of the industry. Also, a firm like ESP, LLC offers something many agencies and internal employees cannot always provide: stability. When an election occurs, things change. Someone must consistently be aware of the current insurance program and it’s history. For fifty years, ESP, LLC has been a friend to public entities. As each state’s economy has expanded, local governments’ insurance programs have grown in complexity and cost. ESP, LLC has been there through it all.

Bob Shupe purchased the company from its original founder in 1988 with seven clients. Today, we assist in the management of more than twenty-five public entity insurance programs. These clients range in size from 20 employees up to 4,000. ESP, LLC, doing business as Risk Assurance Inspections or RAI, is also responsible for overseeing approximately $20 billion in property replacement cost values in Tennessee and over 25,000 insured lives. To protect the integrity of the company, the CEO has held to the principle the company would never be allowed to grow beyond its ability to serve its clients. It is for that reason that ESP has kept pace with technology and education for its staff. We believe there are no short cuts to this process. We, as do our clients, know it will save you money and give you piece of mind about all of your insurance programs. Contact us today!

Specific Services Offered By ESP, LLC and RAI:

Employee Benefit Plans

• Analyzing existing Employee Benefit Plans, making recommendations for appropriate changes and assisting in implementation of the changes.
• Developing Medical Plan Benefits, utilizing Cost Control features; yet, maintaining high quality, cost effective, health care coverage.
• Advising on the appropriateness of being fully insured, self‐funded, or installing HRA/HSA Accounts.
• Developing plan documents as required and preparing Electronic Bid Specifications or Requests for Proposal. We secure proposals direct from insurance providers, Third Party Administrators or insurance agencies.
• Analyzing proposals and making recommendations.
• Communicating Plan Benefits to employees through coordinating educational meetings with the employees, providers/claim payers and network representatives.
• Analyzing claims paid reports and making recommendations to correct mid‐year problems.
• Negotiating renewals in off years.
• Securing answers to questions regarding insurance coverage or claims.
• Assisting in preparing amendments.
• Maintaining insurance records and policies for seven years.
• Referrals for legal advice.
• Monitoring legislative regulations and advising on compliance.
• Working with State and Federal Government to protect the client’s best interests.
• Establishing Onsite Medical Services including Disease Management Programs and Health Risk Assessments
• Employee Benefit Educational Materials
• Actuarial services
• Online enrollment
• Pharmacy Benefit Consulting

Property & Casualty Insurance – DBA, Risk Assurance Inspections

• Update limits of liability and property values annually to assure adequate insurance coverage based on the initial on‐site visits, as well as any others needed when locations are altered.
• Develop Electronic Bid Specifications or Requests for Proposal covering all Property & Casualty exposures. RAI can handle the entire process or work through the client’s purchasing department and complete the analysis based on the submissions received by the client.
• Analyze the existing property & casualty insurance program, making recommendations for appropriate changes, and assisting in the implementation of those changes.
• Review current programs to determine viability of a self‐insured program, developing a self‐insured program, releasing an RFP to determine best
  placement.
• Study workers compensation program to determine viability of installing an “opt out” program under Tennessee code known as an On the Job Injury Program. Assist in development of plan documents and releasing an RFP for the various placement of certain program needs.
• Analyze Bids and Requests for Proposal producing a summary report including the financial stability of each company or pool who submits a quote.
• Ongoing assistance in risk management programs, including review of insurance policies, invoices, audits and related insurance correspondence and request for information.
• Secure answers to any questions regarding insurance coverage or claims.
• Periodically review risk management programs and make recommendations as to where changes appear appropriate.
• Negotiate renewals in off years.
• Review insurance company inspection reports and loss control recommendations.
• Maintain insurance records and policies for seven years.
• Work with State and Federal Government to protect the client’s best interests.
• Loss Control
• Occupational Safety
• Risk Observation Reporting to look for hazards increasing the chance of claims
• Inspect property and determine the estimated replacement value using industry standard software.