Embedded with the Client to Ensure Smooth Operations and Quick Results

August 22, 2014Case Study, Rolling OCIP, Wrap-upNo Comments

Client type

A Port Authority

Background

Judged highest among seven respondents, Trans Hudson was awarded a contract to renew a multitude of policies, may to set to expire from a previous vendor, for a construction program consisting of 20 separate projects with an estimated construction volume of $300.

Project Scope

Six separate Broker of Record letters needed, including extensions within a 3 week period for the client to finish their projects under the existing Wrap-Up program

  • General Liability
  • Workers Compensation
  • Pollution and Excess Liability
  • Railroad Protective

Challenge/Solution

 

Challenge

Solution

Threat of an expiration date on existing policies
Worked immediately to obtain interim extensions
Incumbent broker refused to provide data, forms or records accounting for their management of the ROCIP since 2001
Provided a new ROCIP manual and forms to address current needs
Additional endorsements
Continued to negotiate, serve in the best interest of the client and demonstrate commitment to the marketplace to client’s interests
No handover by incumbent broker of claims management
Set a process in place with the client allowing for billing transparency, monthly billing reviews for accuracy, mediating a dispute over a large claim, claim coordination, quarterly claims reviews ad special account instructions and compliance saving the client extensive time and money

Results-Billing Transparency

Resolved a major billing dispute with an Insurer on behalf of the client.

Claims

Provided stewardship of loss to final resolution as per the client’s request during a dispute between an Insurer and a large subcontractor. Also, saved THE CLIENT significant money by ensuring numerous claims were set up properly and that liable subcontractor absorbed the cost of indemnification claims.

Special Account Instructions and Compliance

Led efforts to update SAI with legal and claim management information and have regular contact with Insurer’s divisional claims teal to ensure smooth handling and compliance.

Summary

Due to a strong relationship with the Wrap-Up (ROCIP’s) insurance company, the Broker of Record process was expedited and a plan created with the the client was implemented. As such, Trans Hudson was successful in acquiring extensions for various policies and make recommendations for equal or better coverage at a comparable rate. This expedited the overall coverage program and in conjunction with partnering to service and provide processes for efficient management, provided a large, comprehensive and organized solution.