Commercial Construction and Property Development Company achieves significant policy wording and coverage improvements coupled with a 23% premium saving.
Background: National Construction and Property Development Company with annual revenues in excess of $250m.
Needs: Required a review of the insurer policy wordings, insurable risk exposures and insurance pricing which had not been addressed for several years.
Solutions: The review resulted in significant coverage improvements and substantial premium savings. Their insurable risks were clearly identified and are now better managed by their preferred broker.
Savings: AUS $179,000 – 23% of annual spend.
A major national construction company with annual revenues in excess of $250 million engaged Senior Lion Partners to assist in a comprehensive analysis of their current risk management and insurance arrangements as part of an overall governance review. The review process included a detailed policy wording review of the major classes of insurance which identified significant deficiencies in cover potentiality exposing the client in the event of a loss.
Further assistance was provided to develop a register of the key risks and an insurable risk gap analysis to ensure that the clients insurable exposures had been effectively transferred. The Lion Partners were able to generate major coverage enhancements as well as a 23% premium saving without the need to change insurers which provided the Board and Senior Management with the Corporate Governance comfort which pre-empted the review. The Lion Partnership is a specialist Global Insurance and Risk Advisory group, provided businesses with an independent, impartial, and objective review and analysis of their insurance and risk management programs, substantially improving coverages and reducing costs.
Please contact us today to find out more about how The Lion Partnership helps to improve insurance coverage and premium savings.
- 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