A. We believe you are the ultimate beneficiary of a well-managed carrier relationship. We value our carrier relationships so much that we would actually define them as partnerships. Strengthening those partnerships to ensure that you are well-positioned at renewal, even after a large claim occurs, is central to your broker’s ability to manage costs. This is especially true in a hardening market when many carriers are apt to offer reduced coverage and increase rates. This is when you will realize the value of a trust-filled, effective broker-carrier relationship that has been steadily cultivated over time and works in your best interest.
To realize that value, it requires continuous critical evaluation of your carrier’s capabilities and results. To that end, we conduct an annual performance evaluation of all our carriers’ claims departments, rating each in six categories. We do this because it keeps our carriers competitive and it allows them to demonstrate a sound commitment to your success – whether that comes in the form of a designated adjuster to exclusively handle our clients’ claims, or their consistent compliance of special claims handling procedures. This level of service is only achieved through a long-standing partnership that is continuously strengthened, regardless of the current market cycle.
A. As the market hardens, consider the following questions: