Customers

We work with many different types of customer and we have tried to describe the kinds of work we do with each one below.  But, because almost every customer needs something different, if you would like to learn more about what we do, how we might work together, or you just fancy a chat, please contact us using the button below or the form at the bottom of this page and we will call you…

Professional Services Companies

For most professional services firms, professional liability (or professional indemnity, malpractice or E&O) insurance is the most important policy they buy.  This may be because professional liability insurance is their principal risk management tool, because they are required to buy the coverage for regulatory reasons or simply because all their customers expect them to have the coverage. 

For many firms, because of the importance of the coverage, professional liability is a significant budget item, often in the top 3.  Any top 3 budget item should be very carefully considered.  

Professional liability is one of our core areas of expertise and experience.  The programs we are asked design are often complex, involve multiple layers and carriers and, for most larger firms, allow them to be closely involved in the claims handling process.  Captives are also often involved.

Professional liability insurance was the reason we designed our core process – first understanding our customer, second, understanding their risks and third, understanding the relationship between the customer and their risk.  These steps inform our design process.  The resulting policy or program – depending on the customer – then incorporates all these elements into its design, where the overall objective is to establish an appropriate relationship between our customer and their insurers that meets the needs of both. 

Why both?  Any top 3 budget item must be sustainable; the last thing anyone wants is to have to redesign an entirely new program every year.  And, because professional services firms now change so fast and so often because the environments their customers work in change fast and often too, any relationship must be capable of adaptation so that the objectives of our customer continue to be met over time.

Commercial Businesses

We work with commercial firms that have complex risk management needs, unusual risks or who have challenging claims histories.  We work with these firms to design insurance programs to accommodate their complex risk management needs; or we design insurance policies to address their unusual risks; or we develop insurance market submissions to find insurance that has become hard to find because of their claims histories. 

There are two ends to the spectrum of insurance buying approaches. 

At one end of the spectrum, firms do everything they can to present themselves as a very typical risk, with the intent of quietly falling into most carriers’ underwriting ‘boxes’.  This works for most risks, provided the ‘off the shelf’ policy is adequate and no relationship is required with the carrier.  

At the other end of the spectrum, applicants need to tailor coverage to their needs and they may also be keen to establish a relationship with their carriers.  This may be because they know they will need to regularly review their coverage and conversations about coverage changes are best done between people who have a pre-existing relationship or maybe it is because, though they have no history of severity in their claims, they don’t want to wait until they have a big claim before getting to know who will handle their claim. 

We work for companies who are looking for tailored coverage and relationships with their carriers.

Not for profits

Not-for-profit institutions have many of the same risks as commercial enterprises but some not-for-profit risks, like sexual abuse liability, are as complex as any risk at a commercial enterprise.  The complexity of the underlying risk can be compounded because not-for-profits often take a different approach to handling claims than commercial enterprises. 

Not-for-profits are also particularly susceptible to financial shocks because of budget constraints, whether the shocks are because of unexpected premium increases or claims.

We have worked in the not-for-profit sector for 10 years, providing sexual abuse coverage to religious institutions, schools, social services charities, sports organizations and companies that work with not-for-profits, like school bus companies or contractors.

Brokers

Most of our work is done with brokers whose clients have complex risk management needs, unusual risks or who have challenging claims histories.  It may be that the broker hasn’t seen or dealt with a particular issue before but we increasingly find that brokers would rather bring in outside expertise when they need it, rather than keep specialist designers like us on staff full time.

Insurers

We have worked with underwriting teams looking to develop new products or services for their customers or who are looking to adapt their existing products or services in the face of changing competitive, risk or customer environments.  It may be that the insurer hasn’t seen or dealt with similar issues previously but we increasingly find that insurers would rather bring in outside expertise when they need it, rather than keep people like us on staff full time.

MGAs

We work with MGAs looking to develop new products or services for their customers or who are looking to adapt their existing products or services in the face of changing competitive, risk or customer environments.  It may be that the MGA hasn’t seen or dealt with similar issues previously but we increasingly find that MGAs would rather bring in outside expertise when they need it, rather than keep people like us on staff full time.

RRGs and RPGs

We work with RRGs and RPGs looking to develop new products or services for their customers or who are looking to adapt their existing products or services in the face of changing competitive, risk or customer environments.  It may be that the RRG or RPS hasn’t seen or dealt with similar issues previously but we increasingly find that RRGs or RPGs would rather bring in outside expertise when they need it, rather than keep people like us on staff full time.

Captives

We work with Captives looking to refine their strategies in the face of changing competitive, risk or operating environments.  It may be that a captive manager wants to investigate reinsurance – for coverage, capacity or both; to increase the types or amounts of risk accepted after a ‘good start’ to the captive’s operations.  It may be that the original reason to establish the captive is not as pressing as it once was and the manager wants to identify if and how to adapt the captive so it continues to deliver value.  It can also be that a captive, which was designed to smooth variations between a company’s risk and the insurance market’s willingness to accept that risk in its rawest form, needs adaptation because of changes in the risk or the market’s appetite.  No 2 projects are exactly alike.

Associations

Associations rarely exist solely to offer their members insurance; insurance is more commonly a benefit of membership.  A prerequisite of our work with an association is to ensure the coverage the association offers its members gives the members better coverage at more competitive premiums than the members would be able to find in the ‘open market’.  For many associations however, this approach is increasingly becoming no more than a basic requirement.   

Over the last few years, how the coverage is delivered – and more important still – how claims are handled has become increasingly important.  And some associations compete against others, and marketing is not often part of an association’s natural skill set.

Today however, advancements in data capture and analysis have the potential to transform how associations respond to the risk management (not just insurance) needs of their members.  Today, it is the quality of the relationships with – and processes between – insurers, defense firms, TPAs and others that will be critical in determining association insurance program success.