When did you last review your insurance programme? It may seem like doing so is a colossal task, but in fact not only can a review benefit your business financially, it may also save you considerable time and effort in the long run.
4 reasons to review your insurance

In a confidential review you would instruct Gallagher to conduct a strategic audit of your risks, identify potential gaps in your existing insurance cover and benchmark the cost of your current insurance programme.

Here are our four compelling reasons to review your insurance programme

It’s 100% confidential

Your current broker and underwriter won’t know that a review has occurred, avoiding disruption to existing relationships.

Avoid renewal time chaos

We believe in the current challenging insurance environment, a close partnership with your insurance broker and insurers is more important than in recent years. As insurers place increased scrutiny in renewal discussions, early planning and preparation can make a significant difference.

Reassurance and peace of mind

A silent review can examine whether your existing insurance programme appropriately protects your business and is competitively priced. If it isn’t, we can rectify that quickly and help save your business from undue risk and expense in the process.

It’s easier than you’d expect

We do most of the legwork, so we can quickly carry out a review with minimal management and investment time from your business.

I’d be very happy to discuss whether this approach could be a solution for your business.

A smooth, confidential review in a challenging insurance market

Mike Swinburne, Finance Director of Cambridge Nutritional Foods Limited tells his story...

Our dialogue with Gallagher began August 2020 after a call with Bav Patani, Business Development Manager at Gallagher. During our introductory call, Bav highlighted the benefits of a silent insurance review

Undertaking the review 6-7 months prior to our next renewal date ensured that all focus was on the quality and relevance of the insurance coverage rather than just cost. As the review is confidential this meant that no insurers were approached during the process therefore not disrupting any insurer or broker relationships. This was important as we had a 10 year plus relationship with our broker.

The entire process was clearly defined via a timetable which outlined what needed to be done and when;

  • Providing Gallagher with current policy documents and customer contracts, terms and conditions;
  • Business risk review - time with key personnel on site within our organisation to allow Gallagher a deep understanding from top to bottom of our business;
  • Site tour - including details of production processes and quality control (including food safety);
  • Claims review – including claims investigation, reporting and MI;
  • A fact find and review of workplace safety policies and procedures;
  • Final presentation

At the business risk review stage we were introduced to Gallagher’s Technical Lead Sean Naylor. Whilst we were aware that there was a larger review team behind the scenes, Sean and Bav carried out the site visits and interviews.

At the final stage of the review process Gallagher presented us with a report that was reviewed by the CNFL board. They took time to ensure that we understood the presentation and validated their findings by highlighting examples in our existing policy documents.

The audit uncovered a range of issues, including some potentially serious matters which we were unaware of. It was apparent that Gallagher had conducted a truly thorough review of our business activities and really understood the cycle of our business. They made some excellent recommendations which will deliver the best renewal terms and efficiencies for our 2021 renewal.

The decision to move to Gallagher was made easy as a result of their silent review. The entire process gave us the confidence we needed to work with a new insurance broker and a real insight into how Gallagher work with their clients.
Mike Swinburne - Finance Director, Cambridge Nutritional Foods Limited