A global logistics company with 30 international locations and a diverse business interviewed multiple insurance brokers. Their decision to interview brokers was driven by their current broker’s lack of international presence and expertise, but they thought they were getting good results on their domestic program. The company narrowed down their choice to two options: Gallagher and one of our largest competitors. They chose Gallagher because we actually addressed specific problems we would fix in their insurance program, rather than only talking about our capabilities. They recognized that “biggest isn’t always the best” in their own business and believed this concept would apply to insurance brokers too.
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An area Agribusiness Pharma company had experienced two uncovered claims in the past 3 years due to their brokers lack of understand of their business and therefore they had inadequate coverage. They agreed that a firm with greater expertise in insurance, as well as a genuine interest and process to better understand their business was warranted.
A local Arborist company was referred to Gallagher after they heard about the work we were doing in the area. The company was relatively happy with their current brokerage firm, but thought there was room for improvement. Their main payroll class code rate seemed a bit high and was driving the majority of their overall premium expense.
A few days before renewal, a rail contractor contacted the Gallagher Rail Team due to lack of options provided by their current broker. Gallagher performed a thorough review of a rail contractor’s risk management program and found several significant coverage issues. We were given the opportunity to represent this contractor in the insurance marketplace. We built a program that fixed all of the coverage problems while saving the company over 15% on their premium.
A rail customer was offered only one option on their workers compensation renewal that was more than double the expiring policy. The contractor was working in more than 10 states, and their current agent was limited on the markets they could use.
Gallagher contacted a large food manufacturing client to discuss their overall risk management program. During the discussion, we learned that the company was experiencing issues with their current carrier and the management of their claims. Gallagher did a full analysis of their risk management program with special attention paid to mitigating claims.
We received an opportunity to review the insurance program of a hotel REIT when there was a shift in their management team.
Gallagher received a call from a bank CEO who was exploring brokers, as they had received several recommendations to contact Gallagher regarding the bank’s insurance program.
A member of the Gallagher Financial Services Practice contacted an independent securities broker-dealer (consisting of approximately 500 registered representatives/financial advisors) and inquired about their current E&O program.
With operations under financial pressure, a large energy exploration & production company found its insurance purchase elevated to a boardroom issue. Cutting costs was critical – but leaving its balance sheet vulnerable in an already fragile economic environment was not an option. The company hired Gallagher to save them premium AND improve coverage. Here’s what we achieved for them over the course of our first two years as their broker.