Manufacturer Strengthens Oversight While Cutting Premiums

CHALLENGE

When the HR manager of a global beauty products manufacturer’s U.S. operations discovered that his property and casualty broker was outsourcing the underwriting of his coverage to a managing general underwriter, questions about transparency and whose interests were being served quickly followed.

The company’s broker was often unresponsive, and the manufacturer’s chemical risk meant that few carriers wanted the business. Feeling stuck, the CFO welcomed Hylant’s offer to review his program and present options.

SOLUTION

To begin, Hylant conducted a strategic property loss control survey to gain insight into the manufacturer’s risk management controls. Armed with this information, the loss control advisor produced a thoughtful, accurate report that positively positioned the account and helped prospective underwriters better understand the risk.

Next, Hylant approached more than two dozen trusted carriers. When the right fit was identified and coverage was secured, the results were immediate: the company achieved a 40% reduction in its property premium rate and a 55% reduction in its general liability premium rate.

Throughout the process, Hylant delivered a fully transparent experience into exactly who was interested in underwriting the coverage and how each carrier evaluated the risk. It was supported by responsive service, with the client executive remaining directly accessible and responding within 24 hours.

Partner with a broker who brings clarity, accountability, and disciplined advocacy to your insurance program.