Insurance Program Review and Evaluations
Insurance brokers do not always have a fiduciary relationship with their clients, and underwriters may not always be the best match for their insureds. While market pressures and corporate values certainly encourage brokers and underwriters to have their clients’ best interests in mind, there may be other factors in play beyond the grasp of your individual account executive or firm that prevent or limit your institution from getting the best products or services out of the insurance markets.
Our written review of your institution’s insurance program can be as detailed as necessary, giving you and your organization an understanding of the appropriateness and breadth of your insurance coverage, limits and options. Benefits of this type of review can include savings on premium, better coverage, and fewer gaps or overlaps in coverage. Another potential benefit is that our neutral professional evaluation may give an administrator the means to challenge a poor-performing “legacy” insurance broker or agent and any underlying conflict of interest.
Pairing the review with a managed RFP for broker services may enable your administration to easily implement needed changes.