A Global Oil and Gas Exploration Company secures superior levels of coverage and boasts premium savings in excess of $1 million.

Background: Global Oil & Gas Exploration Company.

Needs: Required a review of risk management and cost of their insurance program. Significant gaps in coverages, annual premium spend in excess of $3 million.

Solutions: One Global Broker appointed, eliminated duplicate coverages, consolidated policies and dramatic cost savings on premium spend.

Savings: $1 million - 32% annual savings.

With operations in seven different countries, our client was utilizing the services of numerous intermediaries and had a large number of insurance policies with various renewal dates throughout the year. The Lion Partnership identified opportunities to eliminate duplicate coverages and unnecessary costs by consolidating the numerous programs in place.

The Lion Partnership was also able to help the client obtain significantly enhanced levels of coverage, while at the same time secure dramatic premium savings in excess of $1 million, equating to an overall reduction of more than 32%. In addition, the client was able to retain the services of a truly global broker, one point of contact for all their insurance needs.

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