Case Study: Commercial Contractor
Underwriters Group was asked to demonstrate their Risk Reduction Approach™ to a large contractor in effort to determine if the two were a proper fit to conduct business together. Due to the many unique exposures that exist with contractors, it was critical that our executive staff give a comprehensive overview as to how their account and their exposures would be treated.
Strategy/Action:
We met with the key decision makers within the business and went through the approach in great detail, concentrating on areas that we knew would benefit them the most such as safety training, OSHA issues, fleet management, etc. After seeing the value of our unique approach to managing risk for contractors, the prospect asked us to solidify the partnership and move forward working with them.
Result:
It is standard operating procedure at Underwriters Group to conduct a risk survey before moving insurance coverage over from a prior, traditional agent. In this specific instance, it was determined that over $100,000 of scheduled equipment had not been covered by the previous agent. Thanks to the proactive risk management survey done, a potentially crippling loss was avoided.