I wanted to share some valuable insights with the CFMA group from the world class market insights team at Lockton. We've compiled an in-depth overview of what to expect by line of coverage, and why.
10 Keys to a successful renewal:
- Engage key stakeholders in planning and strategy discussions
- Provide renewal exposures and completed applications timely
- Be prepared for highly scrutinized underwriting process
- Detailed explanation of COVID-19 impact, both financially and operationally
- Business continuity plan
- Explain credit downgrades, distressed financials and access to capital
- Explain contractual risk transfer agreements
- Provide detailed documentation on controls (safety, cyber security, employee theft)
- Be flexible with virtual engineering/loss control inspections
- Share completion or progress plan of previous loss control recommendations
- Be available for last minute underwriter questions and requests for data
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Dan Urias, CLCS, AAI
Vice President
Lockton Companies
Mobile 949-394-6528
19800 MacArthur Blvd., #1250, Irvine, CA, 92612
Global > Home | Lockton
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Dan Urias CLCS, AAI
Vice President
Lockton Companies
Irvine CA
(949) 394-6528
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