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This transportation firm won the battle of creeping premiums when CRM was able to negotiate a new policy with the premiums REDUCED from
$100,000
to
$65,000. In
addition,
coverage
deficiencies
were
eliminated
with
broader,
more
favorable
terms
included
in
the
replacement
policies.
The
contractor
thought
he
had
very
favorable
rates
that
were
negotiated
in
1993
with
a
three
year
rate
guarantee. When
he
agreed
to
allow
us
to
negotiate
the
1995
renewal,
we
were
able
to
reduce
his
insurance
premiums
by $55,107. In
addition,
we
negotiated
a
reduction
in
his
Installation
/
Equipment
Floater
from $24,472 to $12,384. This
client
will
be
more
competitive
than
ever
in
preparing
bids
for
new
jobs.
The
$500,000+
expiring
premium
seemed
excessive...........
it
was. Additionally, the property and income limits had to be increased by over $12,000,000, the sales basis increased by $33,000,000 and payroll by over $1,000,000. In spite of these increases, the renewal premium was barely over $400,000. On
an
apples
to
apples
comparison,
our
client saved over $107,000 from the prior year.
CRM
has
consistently
reduced
premiums
and
recovered
overpayments
because
of
coverage
and
rating
errors. Perhaps
we
can
help
you
eliminate
creeping
complacency.
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