|
|
|
| We Need a Second Opinion |
| | | | Problem | | | The incumbent insurance broker handed their client a renewal notice with a 45% premium increase on their Trucking coverage and a 300% premium increase on their Inland marine.
This made no sense to the company as they knew the loss ratio for their truck fleet was less than 50%; and inland marine 0%. Angry and confused...they realized their loyalty needed to be put aside.
The company had been a long time prospect of Gale Smith + Company. Now they picked up the phone and said, "We need a second opinion." | | | | | | Solution | | | Like many businesses with a growing fleet of trucks, the company had been relying upon the advice of an insurance broker who didn't wield a big stick within trucking circles.
Gale Smith + Company immediately sent a Loss Control and Risk Review team to the clients' site. Four weeks later this is what they had uncovered ...and corrected.
- A mistake in the policy endorsements by the insurance carrier leaving the company with zero coverage for all goods shipped outside the continental United States
- A huge hole in legal liability coverage relating to millions of dollars of goods transported for a Fortune 100 company
- Driver files that were below D.O.T. standards and ripe for litigation by plaintiff attorneys
The RESULT: Gale Smith then used its clout to negotiate a 25% lower renewal and provide coverage for the exposures left open by the trucking companies former agent. |
| | | "There really is a 'difference' in insurance brokers.
-- Our firsthand experience ...proves it." | | | We had grown tremendously and "assumed" our insurance agent could keep up.
When Gale Smith + Company analyzed the "fine print" in our coverage - we realized our old agent had left us severely exposed.
Before we had shipments with $100,000 of cargo leaving Mexico with no coverage - now we're covered for anything we haul ...anywhere.
Before we had no assistance with DOT audits - now we do.
Before we had no HAZMAT or driver training program - now we do.
If transporting goods is a big part of your business, then talking to Gale Smith + Company could be one of the best things you ever do.
It was for us. | | | | | - | Jay Robinson
General Manager
Agmark Foods Inc. |
| | "Gale Smith saved us over $500,000." | | | In the early 90's we were in the Assigned Risk Pool. Gale Smith + Company partnered with us to initiate an intensive top to bottom safety program. The work has paid off.
Two years later they recommended we assume a large deductible. We agreed. This move has saved us over $500,000 in the last five years.
Still, the ultimate test of an insurance broker is how claims get handled and paid.
On more than one occasion, Gale Smith + Company has demonstrated they are the "right partner" to have at the table. Their performance in advocating our position has been stellar. | | | | | - | Henry Bedford
Vice President and Treasurer
Southwestern/Great American Inc. |
|
|
|
|
|
|
