RISK EDUCATION—American Risk Managers is proud to offer FREE Cost Benefit Surveys to prospective clients.
These no-obligation free surveys provide an opportunity for you to see the value in Independent Risk Management Consulting, as well as the insurance savings you can expect.
Want to know what happens after you click that “FREE Cost Benefit Survey” button?
I asked one of our Risk Managers, Mr. Walter Haney, Sr., to walk us through the process.
Gathering & Examining Information
For the first step, American Risk Managers will contact your company’s management (or you) to arrange a look at your company’s current insurance file.
“And if you have a loss run file (claims), we’ll also look at that and review any losses you might have,” Mr. Walter said.
One or two of our Risk Managers will also make a brief on-site visit and meet with management.
“We’ll discuss any future plans you may have and if there’s going to be an increase in activity or in buying of equipment or material,” he said.
After determining exactly what you have insured, our Risk Managers will look at the insurance rates you are paying, as well as the other assets that make up the financial charges for your insurance policies.
“We will then establish the rates you should be paying and the amount of coverage needed,” he said. “We’ll also check to see if your current coverage is sufficient from what we’ve seen in person or according to the materials you’ve provided.”
When these tasks are completed, our Risk Managers will know:
- What you should be paying;
- What you are paying; and
- What limits you should have.
You’ll also learn what saving you can expect, if you choose to move ahead.
“And we’ll explain how we can create a unique program to fully conform your insurance policies with the loss potential your business is operating with,” he noted.
Reviewing Your Survey & Savings
Besides learning about your savings potential, you’ll also be provided with the amount of fees you can expect from American Risk Managers.
“If there’s anything else that would involve any extra expenditures on your part, we’ll let you know that then, too,” Mr. Walter said. “Although there normally isn’t.
“That’s the Cost Benefit Survey for you.”
With your survey in hand, you’ll have an opportunity to review the findings and your possible next moves.
“You and your management team are then able to make up your mind,” he said. “You can discuss, ‘Okay, are the savings enough or are the coverage corrections needed important enough for us to go through this?’
“If it’s not, then don’t do it.”
In rare instances after the survey process, Mr. Walter said he’s found that a company’s current rates are good and its current limits are good.
“If that’s true for your company, we’ll tell you that, too,” he said. “We’re not going into a situation where there’s no potential for savings or beneficial and needed coverage improvements.”
What If We Still Need Help?
Upon finding their rates and limits are good, some companies still choose to take advantage of Risk Management expertise in other areas.
“If you want us to come and set up your insurance program for you and bid out your insurance for you, we’ll do that,” he said.
Our Risk Managers can also help your company set up its Workers’ Compensation program to streamline processes and obtain more savings.
Mr. Walter stressed that helping companies, and offering advice and advocacy, has always been American Risk Managers’ core mission.
“Anytime that you’re buying insurance or dealing with us in relation to your insurance program,” he said, “we want you to fully understand what you’re doing and any potential gains or losses that are involved.
“That’s it. It’s rather simple. But it’s awfully important to you.”
What About Savings?
If your company has not used a Risk Management Service before, you can normally expect to save anywhere from 25-35% of your present premium.
(See some sample savings here.)
How Long Is The Process?
The FREE Cost Benefit Survey is not a very long process.
“It depends on how much information you have,” he said. “But we’re usually able to turn it around for you within a couple of weeks.”
Tell Me More About This Information You Need
The data needed for your FREE Cost Benefit Survey includes your current insurance policies and your loss files.
“From your insurance file, we’ll be able to determine what vehicles you have, the types of buildings that you’re insuring and the contents of those buildings,” Mr. Walter said.
“We get a considerable amount of information out of those insurance policies. More than just a rate. More than just a premium.”
He added that the loss run files also provide significant information.
‘If you have losses, we’ll be able to determine the type of losses that you’re having,” he said.
“And if you’re having a whole series of medium-level losses, it will tell us whether or not you should consider some sort of a deductible program, where you can receive credit on your premium.”
If your company has a chance of receiving valuable credits, our Risk Managers will suggest a program involving that option.
“But we want to be sure that you’re not going to get into anything that’s going to cost you extra money,” he said. “We won’t let you go into a trap situation.”
Please Explain A Trap Situation
Mr. Walter said one circumstance that could turn into a possible trap-like scenario involves deductibles, where clients agree to pay for a certain portion of claims.
“If the potential deductibles are not high enough for a meaningful credit on your premium,” he said, “or even if they’re high enough, but our research shows a tendency to have claims where you would have to pay out significant dollars in the claim area, then we’re going to advise you against that.”
What About The On-Site Visit?
As part of the survey process, our Risk Managers usually pay a brief visit to your company.
“But we don’t have to do that,” Mr. Walter noted. “We can do the free survey with a mailing of all this information to our office.
“Or, if you’re agreeable, we could come to your office, do a light walk around and look at any property you have readily available.
“Obviously, we’re not going to get into an in-depth review of your exposures until you sign a contract.”
How Long Does The Site Visit Take?
The length of time for the site visit will depend on the size of your company’s operations.
“It could take 15 to 30 minutes,” he said. “Or maybe, it might take an hour. The walk around time depends on how big your facility is.”
What About Presenting Your Findings?
After the Risk Managers have examined all the data on your company and performed their brief site visit, they’ll meet with management to deliver their survey report.
“Our presentation won’t be lengthy, it’ll take approximately 30 minutes,” he said. “We’ll discuss the coverage you have now and what you need. We’ll present our findings in a little booklet that usually runs four or five pages.
“We’ll tell you what you have, what you should have and what it’ll cost you to obtain our services.”
Mr. Walter was asked to share some of the follow-up questions he’s received from clients in the past.
“Sometimes, prospective clients want to know who we’ve worked for,” he said. “And we’re always glad to share that with them.”
(Note: Click here for client reviews and videos.)
“Some prospects also want to know how long we’ve been doing this. We’re proud to say we’ve been helping to protect companies and find them savings for more than 40 years.”
Most Companies Have A Problem
Mr. Walter is clear about the reason most companies reach out to American Risk Managers.
“Obviously, most people who call us have a problem,” he said. “Or they’ve perceived that they have a problem.
“And usually, clients we sign on do have real problems or areas they’re feeling unsure about.”
Asked to elaborate, he provided an example.
“Well, they could think their agent is just not paying enough attention,” he said.
“A lot of times, when you have a long-term relationship with your agent — the agent is like anybody else — they’re not going to do any more work that they have to.
“Your agent may very well only look at your file when he prepares the invoice to you.”
He also said companies sometimes have claims that “have suddenly jumped out” at them.
Or they’ve been cancelled by their insurance company.
Some clients have received high insurance audit bills.
Or experienced huge increases in premiums.
“There’s just any number of things,” he noted.
(See Common Risk Management Issues here.)
Can You Do Anything About My Insurance Costs Going Up?
Yes. American Risk Managers has a track record of obtaining 25-35% savings for their clients. For companies without Risk Managers, those figures might seem surprising.
“Anytime you’re with an insurance company or an insurance agent, and you don’t bid out the account every three-to-four years, you can know this,” he said. “That price will go up. It’s not going to come down.
“Not unless you get a professional involved to bid out those policies. There has to be competition or they just won’t drop the cost.”
From Insecurity To Certainty
Mr. Walter said there are many instances where clients have had “a kind of a feeling of insecurity” in dealing with their insurance program.
“We take people from a feeling of insecurity — until they have a full range of understanding of their insurance program and how it works,” he said.
“And that’s a big thing. That’s what we’ve been doing for 40 years.
“There’s nothing magic to this. There’s a lot of hard work, but there’s nothing magic.
A Win-Win Situation
Mr. Walter emphasized that American Risk Managers’ Cost Benefit Survey does not cost companies anything — it’s a truly free service.
“If you look at it from that standpoint, it’s a win-win situation,” he said.
“You get an expert-eyed look at your insurance and risk programs. And if you don’t want to follow through, you don’t have to.
“But if you do decide to move ahead, you most likely have a reason. And it’s not going to cost you anything to find out.”
A Built-In Guarantee
American Risk Managers has always offered its clients an unbeatable guarantee.
“In our contract with you, we give you an assurance that if we don’t save you the amount of money we charge you in our fee, we have to adjust our fee downward,” he said.
“So you’re going to save more than our fee, or we’ll adjust our fee to the savings that you have.”
That’s A Lot Of Work For Free. Why?
Mr. Walter explained that FREE Cost Benefit Surveys often act as sales vehicles.
“To us, it’s an opportunity to explain to you why you need us,” he said.
“Or, in case we find out you don’t need us — if you don’t need Risk Management help — we’ll tell you that.
“But normally, it’s a way for us to explain to you what your problem is and the assistance we can offer.
“And when you finish that, if you want to buy – you buy.
“And if you don’t – you don’t.”
He said most companies, after examining their surveys, decide to sign up with our consulting services.
“We have enough people who make that decision to purchase, that we can do this,” he said. “We can offer this particular service for free.”
What’s The Dollar Value Of This FREE Survey?
Since every company and every insurance program is unique, so is every Cost Benefit Survey.
“We really can’t put a price on it,” he said. “They’re all different.
“But we encourage you to take advantage of this. And it’s only after you look at the survey, that you decide whether or not you want to buy.
“There is absolutely no cost involved or obligation on your part until you look at it and tell us, ‘Okay, let’s do it.’
“The clock doesn’t start until we sign the contract. Anything we do for you up until then is absolutely free — gratis.”
It’s A Rather Simple Thing
If you’re thinking about signing up for a free insurance and risk survey, Mr. Walter emphasized that the process is simple.
“The simpler you keep it, the better,” he said. “And people like the word ‘free.’ Everybody does.”
He noted that prospective clients can call (800) 548-0117 for more information on the free surveys or Risk Management Services.
“If you have any interest, either I, or someone else here at the office, will be glad to discuss this further with you,” he said.
Why Not Schedule YOUR Free Survey Today?
(Photo Credit: Artwork – Canva; Flag – Pexels)
RISK EDUCATION—It’s October and if you have children, they’re probably getting excited about Halloween.
They’re deciding on what costume to wear. Or as it’s sometimes phrased, “Who are you going to BE for Halloween?
“Besides all the fun, there’s also a goal in mind. Candy.
Children take a risk that they’ll get some candy when they knock on that door.
Some risks are worth taking.
Adults who skydive take a risk every time they jump out of a plane.
But they enjoy the ride, the epic view and the rush of adrenalin.
To them, skydiving is a risk worth taking.
Business owners work hard developing a product or service and then do their best to market it, so they can stay in business and make a living.
A major expense for businesses is insurance. And insurance is expensive. Insurance costs are usually among the top three expenses — right up there with payroll and supplies.
Not having insurance is not a risk worth taking.
You have to have insurance — and there’s not anything business owners can do about it.
OR is there?
What if I told you there was a way to “have your cake and eat it, too.”
To have insurance coverage, but not pay as much as you’re paying right now.
And to actually IMPROVE your coverage in the process.
Is that a risk worth taking?
A Movement To Know More
About half a century ago, a few business owners began to feel differently about paying all those insurance costs.
They wanted to have more knowledge about specific coverages and some of the other ins-and-outs of the insurance business.
They didn’t want to “just” renew every year and sign on the dotted line.
They didn’t want to hear that costs had “just” gone up and there was nothing that could be done about it.
They wanted more.
They wanted answers.
They wanted to know why…
- WHY they needed a specific amount of umbrella coverage.
- WHY their automobile policies needed to include certain limits.
- WHY deductibles of a certain amount were a good idea for one type of policy, but never another type of policy.
So, a few of these business owners studied deeply on the subject of insurance and became experts themselves.
They began to serve as specialists who could figure out exactly what they were getting with an insurance policy and what they weren’t getting.
And instead of having a business owner sit across from his insurance agent and just sign papers and hand over a check, these experts SAT BESIDE THE BUSINESS OWNER.
These experts explained the coverages in detail.
- They helped the business owner identify risks and exposures and then matched policies to their needs.
- They promoted the idea that coverages could/would/should be customized.
- And they made it clear they were no longer interested in paying for “one size fits all” insurance policies.
These Risk Experts helped to reduce risks.
And then another type of magic happened.
These experts began demanding lower prices and lower rates for the businesses they were assisting. And they had the gall (gasp) to shop around and even switch agents, if necessary.
Remarkably, as agents started to have to compete against each other, some insurance companies were able to find some “wiggle-room” and dropped their costs considerably.
These Risk Experts changed how the insurance game was played.
Unfortunately, some businesses still remain unaware of these extraordinary “middle-men.” Some owners/managers continue:
- To JUST renew.
- To JUST sign on the dotted line.
- To JUST hand over a sizeable check without further consideration.
Okay… enough mystery and drama (even if it’s spell-binding October). WHO are these Risk Experts and Specialists?
Today, they’re known as Risk Managers.
But… since nobody seems to like talking about insurance, Risk Managers remain one of the industry’s best-kept secrets.
We’re here to spread the word.
Hiring a Risk Manager is definitely a risk worth taking.
Besides the actions already mentioned, Risk Managers perform a multitude of services for their clients. (You can read about common issues here.)
Most importantly, Risk Managers:
- Make sure your business is fully covered;
- Make sure you are personally protected; and
- Make sure you’re getting the best insurance pricing available.
Our founder, Walter Haney, Sr., was among the first pioneers of the field of Risk Management.
Mr. Walter was once an insurance agent himself. But he felt so strongly about becoming an advocate for businesses, he moved from the selling side of the table to the owners/managers’ side to offer his advice and expertise.
Forty-three years later, he continues to thrive on helping businesses obtain the best coverages to match their exposures — while saving them money on insurance costs.
Mr. Walter averages 25-35% savings for his clients, although some companies have seen remarkably higher savings amounts.
No Tricks. Only Treats — And A Lot Of Hard Work, Dedication And Experience.
Why not call today to set up a FREE Cost Benefit Survey to see what type of savings your company can expect?
You can click here and fill out a form to be contacted via email or call us now at (800) 548-0117 to learn more about the no-obligation survey process.
A No-Obligation FREE Cost Benefit Survey Is Certainly A Risk Worth Taking.
(Photo Credits: Jack O Lantern – Ylanite Koppens/Pexels; Trick R Treater/Pixabay.)
RISK SERVICES—Teams can do great things.
Teams can accomplish tasks that individuals cannot do on their own or that would take them a lot more time to do by themselves.
Teams also take advantage of the strengths of others, with each person adding unique talents and skills to benefit the group.
At your company, you probably already have some types of teams.
You may have a management team, an office team, and a safety team. Perhaps you even have your own baseball team — if only just for fun, exercise and employee bonding.
Depending on the size of your company, you may also have a Risk Management team. Or maybe not.
Many businesses remain unaware of the vital need for professional Risk Management services and the value they bring to your company’s operations and overall team.
Coverage Needs Change
Did you or someone else at your company purchase your commercial insurance policies years ago and now just renew them annually?
That’s a common scenario. But as your company grows and changes, your coverage needs also change.
If you don’t have someone specifically trained to handle insurance programs and address evolving risks — you could be endangering your company’s future.
Claims could be denied. Co-penalties could be applied. Some items could be doubly-covered, while others may have fallen into a coverage gap.
You’re probably missing out on savings opportunities, too. (Savings? You might be surprised to see this option. You realize rates and premiums go up, but may have never imagined they can actually go down, too.)
Your policies should be reviewed by an expert and updated accordingly before being renewed. (And renewal time is a great savings opportunity.)
Risk Management Role
Mid- to larger-sized companies frequently use consultants to handle risk and insurance programs when they can’t afford to hire a full-time Risk Manager.
Independent Risk Managers make GREAT team players.
- They work EXCLUSIVELY for their clients.
- They have YOUR BEST INTERESTS at heart.
- They’re your ADVOCATES in the insurance marketplace.
Plus, they sit on your side of the table during negotiations. And they can even assist you in bidding out your entire program for the best results.
Risk Experts Match Exposures To Coverages
Risk Managers are well-trained in sizing up the exposures for your business and then designing an insurance program to match its specific needs.
You’re also going to get the benefit of their experience with other companies like yours and their knowledge of the ever-changing insurance marketplace.
And while they may know many brokers and insurance agents — they’re not beholden to anyone, because they work independently.
And because they’re independent, they’ll help you CUT COSTS instead of needing to be paid out of the premiums charged to your company (like brokers and agents).
Insurance Program Design AND Savings Specialists
Risk Managers are not only good at designing insurance programs to fit your specific industry or service, they’re also good at finding savings in multiple places.
SERVICE and SAVINGS are what they do on a daily basis. They know how and where to find savings solutions for coverages, policies, limits, deductibles, workers’ compensation and more.
And Independent Risk Managers can usually find more than enough insurance savings to cover your fees for hiring them.
Sounds like a pretty good deal, right?
With a Risk Manager on your team, you’re going to get MORE for your MONEY:
- You’re going to get better coverages for your company — giving you MORE peace of mind.
- You’re going to end up paying less for your commercial insurance programs — giving you MORE savings.
- And with a Risk Manager handling insurance-related issues, you’re going to save a lot of top-management time — giving you MORE time to devote to other business matters.
If this sounds like a win-win situation to you, we’d love to join YOUR TEAM.
We have a 40-plus-year track record of helping businesses and industries in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee.
We love helping our clients REDUCE RISKS and INCREASE SAVINGS.
Let’s talk. About your company. About your needs. And about the world of possibilities created by great teamwork.
Call Us To Hear MORE Risk Management Team Benefits!
(Photo Credit: Chazz H.)
RISK SOLUTIONS—A Workers’ Compensation Insurance rule that many businesses may not be aware of is that you only have to report 2/3 of your overtime total when calculating your payroll for the year.
When you buy your Workers’ Compensation policy or renew it, you provide an “estimated payroll” for the year. Your premium (or cost) is based on this estimated amount.
Then, after your policy period, an auditor will request records showing the actual payroll paid out.
According to the difference in your estimated amount and the real amount, your company is either going to have to pay more premium or they’ll receive a refund check.
Regular & Overtime Payroll Divisions
When you figure your payroll, have a column for regular payroll and then another column for overtime.
Add up your total payroll and then your total overtime payroll.
Then divide your overtime payroll by 2/3rds. (Note: Figure 66.66 percent.)
That is the amount you will add to the regular payroll for the final total.
For example, if your total payroll was $100,000 and your overtime pay was $15,000, then you would add 2/3 of the $15,000 — which is $10,000 — to obtain a “chargeable payroll” amount of $110,000.
Here’s a sample (BELOW). Please note that office employees and fleet drivers are in two different categories. You will have different Workers’ Compensation classifications for employees according to their jobs and will pay different amounts for insurance based on those roles.
Based on the table shown above, you would report $328,716 to your Workers’ Compensation insurance carrier as your total payroll.
If you had not figured the correct percentage of overtime earnings, you would be paying a higher rate based on nearly $4,000 MORE of payroll.
And since drivers are classified in a more-costly category than office employees, that overpayment amount would have been even higher. (See links at the end of this post for help with correctly classifying employees.)
Take Away The Bonus Amounts
Your auditor or insurance agent may have already made you aware of this Workers’ Compensation savings opportunity. I only recently learned about this rule myself, so I asked a Risk Manager to explain more about it.
“In order to work overtime, the law requires companies to pay time-and-a-half,” said Walter Haney, Sr., of American Risk Managers.
“When you are reporting your total for Workers’ Compensation, you are paying an amount based on the straight-pay time, but taking away the bonus (or overtime) amount.
“You report the straight time, but you take away the extra. You should do this for holiday pay, too, which is sometimes double the regular pay.”
Mr. Walter also said that a good way to double-check your figures is to compare this final total with your tax records.
“Take your tax records and compare the net payroll,” he said. “You are only required to report the net amount for your Workers’ Compensation premium.
“An auditor is going to do their own analysis. But you should also review all these figures for yourself. If you’re writing down the entire payroll without deducting a percentage of the overtime total, you’re going to pay more than you should for Workers’ Compensation.”
You can find more information on Workers’ Compensation problems, solutions and savings by clicking on the following links:
More Savings And Solutions Are Only A Phone Call Away!
(Photo Credit: Pexels)
RISK SERVICES—I’ve heard the Risk Managers in my office mention more than once that “too much shopping around” with your commercial insurance policies is a bad idea.
At first, I was just curious as to why. But then I thought business owners and top managers might be interested, as well. So, I asked them to explain.
Here are several reasons why Risk Managers advise against taking your policies “to market” on an annual basis.
Why You Shouldn’t Market Too Often
1) The Underwriters And Agents Don’t Pay As Much Attention To Your Account.
Prep work on commercial insurance accounts takes time. Agents and underwriters may not want to compile all the information necessary to quote an account, if they feel their efforts won’t be rewarded.
2) Your Account Is Just Out There Too Much And Nobody Will Take You Seriously.
Agents could believe you’re just looking at the rest of the market and have no intention of changing agents. They may feel that you just want to look at the available policies, but you’re not going to buy anything.
3) It ‘Cheapens’ The Account. It’s Not Worth Anything.
You cheapen the value of your account if you bid it out every year or two. Agents can decide to focus on other accounts that don’t bid as often or they may choose to not put as much time into your account.
Do This Instead — Accept Bids Every 3 to 4 Years
If you only bid out your commercial insurance account every three or four years, for example, then agents and underwriters will understand that this is their opportunity to quote your insurance.
And they’ll realize they have a real chance of securing the account.
“From a Risk Management standpoint, we advise our customers to only bid out their commercial insurance accounts every three to four years, unless there is a complete turnaround in the market or another direct reason to look at more coverages or policies,” said Walter Haney, Sr., of American Risk Managers, Inc.
Mr. Walter also shared some advice on reasons to make policy changes, how many agents to get involved in the quote process and some best practices for bidding out accounts.
Have Specific Reasons For Change
All of your insurance purchasing should be based on coverage needs.
“There needs to be a specific reason for buying a particular type of insurance,” Mr. Walter said.
For Example, Risk Managers can survey your operations to check for risk exposures and then design a program to fit your company’s unique needs.
Mr. Walter also noted that there needs to be a reason to secure different pricing.
“If there’s some reason to believe that the pricing is going to go up, then certainly you want to shop that policy,” he noted. “But we don’t believe you should be changing agents or companies just to be doing it.
“We think there has to be a meaningful difference in pricing. And to us, that’s 10 percent. There would have to be a 10 percent savings opportunity for us to advise a client to change agents.”
Pricing Is Not The Most Important Consideration
Also, regarding pricing, Mr. Walter noted that it’s neither the least important reason to change, nor the most important consideration.
“The most important thing is coverage,” said Walter Haney, Sr. “If you have a claim, is it covered? If it’s not covered, it doesn’t matter what you paid for it. You don’t have anything.”
Besides coverage, other important considerations to keep in mind are company reputation, agent experience and how well the policy is written.
Another reason for a change mentioned by Mr. Walter would be if your insurance company was closing or relocating.
“If your company is leaving the area, then you want to be ahead of that to shop the insurance,” he said. “But if everything remains the same, the best practice is to have your account quoted every third year.”
How To Go About It
Establish Values & Limit The Number Of Agents
The first step in bidding out a commercial insurance account is establishing the values of all your properties and equipment.
(Again, we’ll recommend getting a Risk Manager involved, but a detailed list of how to prepare your accounts can be found here.)
Mr. Walter noted that establishing values and publishing specifications allows every agent involved in the bid process to have an equal chance.
He also explained that you should limit the number of participants to three or four independent agents.
Why no more than three or four?
“You destroy the market and overextend it when you go overboard,” he said. “Three or four agents will give you a good search of the market and allow those agents to be able to put together a complete proposal for you.
“Anything over that is just superfluous and is of no real value to you.”
Work Off Assigned Markets
While preparing your specifications, you can invite the agents you want to be involved to submit the markets they’d like to use — IF they get the account.
(Examples of markets include a company that handles property coverage, a company that offers workers’ compensation coverage, and another company that deals with automobile coverage.)
You begin by sending participating agents a market request form, so they can pick their first, second and third choices of markets.
SEE EXAMPLE BELOW
Mr. Walter explained, “If I was requesting markets, I would list as my number one preference the market that I felt would best provide the coverage for that account. You’re looking for an insurance company that does a good job with that particular type of business.”
By submitting their markets on a preferred basis, you’ll then, ideally, be able to match each agent up to their number one market — the one they really want.
“The agents are saying, in essence, ‘If I got the account, these are the markets I would like to have’,” Mr. Walter said. “It doesn’t always work that way, but that’s the idea behind it.”
You (or your Risk Manager, if you have one) will then assign all of the markets to specific agents.
Agents are advised to only work off of assigned markets and not approach any company until and unless they’ve been assigned this particular market.
After markets are assigned, you’ll need to allow the agents approximately 90 to 120 days to obtain their quotes.
Before presentation time, you’ll want to create some type of bid form on a spreadsheet, so you can compare all of the companies, the coverages, and the pricings.
Mr. Walter recommends that you have all the agents present their pricing and proposals at least 15 days prior to the expiration date of your policies.
“That way, if you do make a change, you have time to get your insurance certificates. And it’ll be a more orderly change,” he said.
Hopefully, you’ve learned a little bit about “what not to do, what to do and how to do it” regarding taking your commercial insurance accounts to market.
Of course, none of these suggestions are meant to be legal advice. You’ll always have the best results (and bigger savings) by consulting with an Independent Risk Manager.
Save Time & Money — We Can Help Bid Your Account!
(Photo Credit: Chazz H.)