Bring us your challenge

Helping clients understand their risks

The challenge
The client, a real estate company with thousands of properties mostly in California, was concerned about the high costs of flood insurance. With exposure to multiple natural hazards such as wildfires, floods, and earthquakes, the client asked if we could improve their flood modeling to help reduce premiums. The challenge was identifying the right information to enhance the accuracy of the models.

The solution
Using our powerful Location Risk Intelligence tool and decades of climate data, we were able to show the client the risks to their assets and the potential financial impacts of those risks on a granular basis. By providing insights into specific risks, such as flood, tsunami, and wildfire, we helped fill in the information gaps so they could focus their risk mitigation efforts.

In the client’s words…

Finding out-of-the-box solutions

The challenge
A large investment management firm with a diverse portfolio of retail, office, condo, and industrial properties nationwide faced a challenging renewal. After significant claims and increasing property values, their exposure to natural catastrophes was growing. The broker needed to secure additional capacity but struggled to find it due to the client’s recent losses and increasing risks from extreme weather events like storms, earthquakes, and hurricanes.

The solution
The broker called us in the eleventh hour on the day of binding to ask for any capacity we could provide. We responded by offering temporary capacity beyond our usual appetite for a two-month period. This solution gave the broker the time needed to complete the program.

In the broker’s words…

Offering brokers and clients specialized expertise

The challenge
A large pulp and paper manufacturing company with mills in the US and abroad required considerable insurance capacity. Their broker, with whom we have a long-standing relationship, approached us to help secure the coverage. However, critical information was missing from the client’s engineering reports, creating a roadblock for insurance carriers.

The solution
Paper mills are complex operations with significant risks, requiring detailed engineering assessments to evaluate all potential hazards. Our team collaborated with a subsidiary of Munich Re, Hartford Steam Boiler IIC, to bring in engineers with fire and boiler expertise to do site surveys and provide the broker with comprehensive risk control and engineering reports.

With this information in hand, the broker was able to effectively assemble a program, while the client gained acceptance from the market and got the capacity needed at a fair price.

In the broker’s words…