This Produce Company Saved $450,000 in Annual Premium
A large produce company faced a complex challenge with approximately 25 different policies, consuming valuable staff time and revealing inadequacies in coverage.
Hylant's team of experts stepped in by consolidating and simplifying these policies, significantly reducing administrative burden and enhancing operational efficiency.
Challenge
When Hylant first started working with the client, a large grower, distributor and retailer of produce in Florida, we completed a comprehensive risk analysis of their current coverage's and plans. They had approximately 25 different policies in place that required an immense amount of oversight as well as a great deal of their staff's valuable time and energy. Furthermore, upon examination, we discovered a number of inadequacies within these policies.
Solution
Our risk management and agricultural industry experts went to work identifying strategic solutions that worked for the organization and restructured their coverage, consolidating 25 policies into five policies, including:
- Commercial property
- General liability
- Commercial auto
- Workers' comp
- Commercial umbrella
Through Hylant's strong relationships with the carriers, we were able to secure improved programs and provide additional services. Ultimately, we saved the client $450,000 in annual premium. Additionally, through the consolidation of policies, we were able to simplify the administrative process and reduce the amount of time required by their human resources team.
Hylant is committed to helping clients manage their risks in the most cost-effective and service- focused manner available, including customized consulting agreements.
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