To keep their independence, W. M.& G. Inc. is directly responsible to their clients and are compensated by them directly, do not accept assignments that would impair the independence of their company, will not accept assignments from insurance companies or insurance brokers, They do not sell insurance or accept commissions or compensation other than the fees paid by clients and income from publications.

Shelter Island Risk is another risk management consulting firm, that is skilled at finding the correct data and getting it to the key employees in your insurance efforts, and risk finance. Each key employee needs a different type of input on risk management, and SIR will make sure they receive all the information they need to manage business risk. They will assist with the planning and cost allocation process, and evaluation of your retention levels and aggregate boundaries.

An example of consultation guidance on risk management:

The chemical section of a large energy company needed to develop a corporate standard for protection analysis which incorporated a risk projecting matrix. The company was interested in obtaining an independent report of the design of the risk matrix, and identifying the risk tolerance criteria with the industry standards.

Senior risk management consultants met with a procedure development team and provided suggestions on how to define frequency and the severity of the consequences with reference to the risk matrix. The consultants provided ideas release quantity against down wind distance for toxic and flammable chemicals to assist employees in identifying potential catastrophic consequences. Consultants were able to provide similar tolerability factors to compare with the clients tolerability criteria. Using this information the company was able to assure upper management that the risk management was standard with other like companies. Risk management was implemented by the company lowering the overall risk of the company.

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