|
|
|
|
|
|
|
|
The 80/20 Solution
The Client's Challenge
A Delaware-based service company was using three brokers. Their claim experience was deteriorating, and the company's insurance costs were continually rising. They retained the Lyons Companies to conduct a Risk Assessment Audit.
The Lyons Solution
Lyons recommended a corporate insurance and risk management strategy that made it possible for our client to:
- Consolidate 20 insurance policies into 8
- Establish consistent deductibles and limits for all corporate entities
- Reduce the overall insurance premium while providing broader and more comprehensive coverage
- Eliminate the use of any surplus lines markets, which reduced costs and enhanced the financial security of the program
- Institute a fleet and workplace safety program that dramatically reduced their claim frequency
- Institute a claim management program that helped to reduce claim severity
The Client Said It Best
"I used to spend 80% of my day on insurance matters and 20% on our business. Now, thanks to Lyons, I am able to focus on our core business 80% of the day and devote only 20% of the day to insurance and risk management."
|
|
|
|
|
