A Manufacturing Company saves $160,000 in annual insurance premiums- with improved coverages and retained the same broker and insurer.
Background: Manufacturing Company, Texas USA.
Needs: Required a review of property, casualty and workers compensation insurance. Annual premium spend $710,000.
Solutions:The incumbent broker is now the Company´s advocate resulting in significant coverage improvements and substantial cost reduction.Their insurable risks were identified and are now better managed.
Savings: $160,000 - 22.5% annual savings.
The Lion Partnership recently completed a project with a very well managed manufacturer with revenues of approximately $150 million. The Company had a long term, close family relationship with the incumbent broker, which was taken into consideration when conducting an analysis of their insurance program.
The review uncovered gaps and duplications in coverage. The Lion Partnership managed to re-engage the broker to work as the fiduciary of the Company, being remunerated on a transparent basis, significant coverage improvements were achieved with more than 20% reduction in annual premiums. The Lion Partnership is not an insurance broker and does not compete with your incumbent broker. The Lion Partnership is a specialist Global Insurance and Risk Advisory Group.
Please contact us today to find out how we help businesses to improve their coverage and save on premiums.
- World’s best practice knowledge and local experience
- Best in class corporate governance protocols
- Independent and impartial advice and coverage review
- In-depth gap analysis and policy wording review to identify risks
- Global benchmarking to ensure optimum coverage at best price
- No requirement to change insurance providers
- Alternate Fee Structures including our ‘no savings, no fee’ model