Case Study 1: Situation
Our policyholder operates internationally, both in Europe and South America. Due to both their operations and operating locations they constantly have a very real threat of their employees being kidnapped.
Action
This organization asked United Risk to review the kidnap & ransom coverage they had placed with another agent.
Results
United Risk performed a policy coverage form analysis, marketed the account in accordance with the needs and desires of the client, and negotiated broader coverage with another carrier at over a 66% savings. The policyholder was astounded that there could be such a difference in premium. United Risk Solutions, Inc. makes it a priority to diligently find the best coverage and pricing available to our policyholders.
Case Study 2: Situation
One of the major expenses of any business is insurance. When a business suffers major claims in short period of time, this can sometimes increase premiums to a level that makes it not cost-effective to remain in business.
For instance,
one of our policyholders has a fleet of aircraft. Unfortunately,
two aircraft were destroyed just a few months prior to renewal.
The insurance carrier responded at renewal by:
Presenting the insured with a quote which would have resulted in a 100% increase in premiums.
Excluding slung load coverage
Increasing deductible from 5% to 10% on the hull coverage
Deleting profit sharing provisions in the policy
Action
United Risk had already been proactive in working on obtaining renewal quotes for this policyholder from other insurance carriers. We know that you cannot wait for catastrophe to strike if you wish to be ready with alternative solutions!
Results
The policyholder was able to move their insurance coverage to another carrier with a much lower increase in premium and comparable coverage to the current policy they held. This policyholder stayed in business and is thriving today!
Case Study 3: Situation
Our policyholder had committed to doing a reality television show in which contestants were required to step out of a flying helicopter and retrieve flags. This is not something the average aviation insurance carrier wants to insure!
Action
United Risk
began careful negotiations with both the aviation underwriter
and the producer of the show. In addition we were successful
in obtaining waivers from the television contestants themselves.
Results
Due to the above, United Risk was able to secure the liability coverage for the stunt at a premium of less than $5000.
Case Study 4: Situation
Products Liability creates an exposure which often results with insurance costs escalating at an astonishing rate. Our policyholders know that we have the expertise and the markets to get coverage at a reasonable price. For example, an organization came to us that wanted to begin the manufacturing of patented composite blades for helicopters. Although the designer had several years experience and is by far one of the most knowledgeable aviation experts in the country, this is an extremely difficult product to insure.
Action
United Risk put together a very professional and comprehensive submission and began to aggressively market to underwriters.
Results
From United Risk's key relationships and expertise in approaching Lloyds of London markets directly, we were able to find an insurance carrier willing to insure this new startup venture, at a cost affordable to the policyholder.
