Large Multinational Company Saves $2.5M in Insurance Premiums
A public multinational company with billions in assets in more than 70 countries was going through an acquisition when suddenly, just two months before its property and casualty insurance program renewals, the entire risk management team resigned.
Instead of relying on its current insurance agents, the company decided to hire the services of INSIGHT to review and complete the insurance renewal process. After a complete review of the company’s property exposures and the insurance policies providing coverage, INSIGHT found that many of the properties included in the statement of values had values way under the deductibles, or were no longer owned or leased by the company. A new property insurance policy with the same coverage, limits and deductibles was purchased for $2.5 million less in premiums.
INSIGHT is in its third year providing On-Site Risk Management Services to this client. This year’s risk management budget is $6M less than three years ago