The SOFT Insurance Market – 5 Things to Be Aware Of
- The ‘soft’ Property & Casualty insurance market is allowing companies to take advantage of significant premium reductions but now more then ever – with the economy and companies struggling alike - its coverage protection that counts.
- As people suffer from job losses and lower incomes, the rate of claims and lawsuits against companies increases drastically.
- Make sure you have the right coverages and adequate limits to protect your companies assets. Don’t risk being ‘bare’ in the event of a claim – don’t let others make money off of you!
- Work force cuts mean lower productivity, less quality and potentially more lawsuits; Are you covered effectively for your products or professional liability?
- Yes, your premiums are at all time lows, but did you also lose your coverage depth?
- At what cost to your broker or carrier are lower premiums? Are they cutting coverage corners to maintain their profit margins?
- What is your broker holding back? Do you have all of the services available?
- In a ‘soft’ market you should be getting MORE not LESS – there is no reason NOT to have enhanced service and broader coverages.
- If you ask your broker if you have the right coverages, does he/she really know?
When you have a specialized need you bring in an expert with the specific knowledge and experience of your business that you need.
USI’s Specialty Insurance programs provide significant premium reductions AND enhanced coverages and services unique to your business.
Let the SPECIALISTS work for you.
For more information, please contact:
Richard Hyder-Slater, SVP, 212 842 3765
Richard.hyder-slater@usi.biz
