NASDAQ-Traded Apparel Manufacturer Reduces D&O Insurance Premiums 3 Consecutive Years
Frustrated by persistent D&O increases despite no claims, a manufacturing CFO engaged Hylant to challenge the status quo.
Challenge
The CFO of a NASDAQ-traded global apparel manufacturer couldn't understand why the company's directors and officers (D&O) premium continued to rise. The company had no D&O claims.
D&O claims tend to be low-frequency but high-severity events. The CFO knew that coverage was critical, but did it need to cost so much?
Solution
Hylant’s team recognized that, despite a clean claims history, the company’s D&O coverage hadn’t been actively remarketed or competitively positioned in years. This had limited opportunities to test the pricing and coverage improvements in the marketplace.
Hylant prepared a plan, obtained the CFO’s agreement, and went to market, securing a 23% reduction in D&O premiums in the first year.
Today, Hylant meets with the CFO before each renewal, plan in hand, and then aggressively remarkets the company’s D&O policy. For three consecutive years, the team has reduced the manufacturer's D&O premium while adding more layers of protection.
Active marketing is key to securing the best terms and price. Partner with a broker who is consistent, not complacent.
Results for the Client
23%
D&O premium reduction in year 1
12%
D&O premium reduction in year 2
17%
D&O premium reduction in year 3, even with the addition of an excess layer of protection
Trusted Advisors
Hylant team members are ready to advise you and help you confidently address your needs.
