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Case Study

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Who: $10 Billion Outsourced Investment Firm and Alternative Asset Management Firm

THE RISKS: Asset Management firms face a number of complex liability exposures that require proactive risk management consulting. Advisers face risks stemming from the performance of professional services coupled with non-investment operational risks like D&O, employment practices, employee fidelity not to mention the ever growing need to address cyber & data security risks.

INITIAL CONCERNS: Lack of service and failure to proactively recommend risk management solutions.

WHAT WE DID: After our initial meeting, we conducted a detailed analysis of the firms coverage and found areas which needed to be improved. We scheduled a follow-up meeting with the firm’s management team, in order to review our findings and talk about how we can add additional value to their risk management function within the organization. We were authorized as the broker of record in advance of the August 2016 renewal. Our brokerage team then devised a plan to demonstrate and deliver on our promise.

Outcome:  We saved our client 16% in annualized premium. We offered higher limits of liability, addressed coverage deficiencies, proposed options for SIDE A D&O Coverage, Fidelity and Stand-Alone Cyber/Data Security.

For the same premium as paid the year prior, our client purchased $30,000,000 of coverage up from $25,000,000 the year prior. Further, given the savings, our client was able to procure a stand-alone Fidelity Bond and separate Cyber Coverage for no additional cost. Lastly, as with all of our clients, we set up them up on our 24/7 internet portal so that they can access all of their pertinent insurance documents at anytime.

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