McGriff identifies the scale and location of insurable risk exposures, key vulnerabilities, and interdependencies from an operations standpoint. We also carefully review policy wording, declared values, indemnity periods, deductibles and policy limits to identify gaps and underinsured areas. Our process supports strategic risk management decision-making, establishes the correct coverage, and creates the right environment to secure the best options from the market and the best use of your company’s captive.
We have found that a bundled approach – insuring the E&O, electronic commerce and other professional liability exposures under a master program – often provides broader coverage, allows us to eliminate irrelevant policy exclusions, and combines reporting and claims handling for acts that trigger more than one policy. Risk transfer is also achieved at a more efficient premium level, and multiple policy anniversaries and applications are simplified into a single renewal effort. Lastly and most importantly, in bundling the conventional exposures, we can use the larger economy of scale to negotiate the removal of costly exclusions, such as blanket intellectual property, regulatory investigations, etc.
For technology and communications, we delve into key, industry-specific exposure areas in addition to risk analysis on the traditional property, casualty, executive and corporate liabilities. Through consultative meetings with your risk management team we review, evaluate and develop strategies for the following areas.