Construction Insurance

We view insurance differently than most brokers. It is never something we “sell”; it is one of the risk management tools we use. Thus, our objective is never to simply “sell” you a policy, it is to advise you of the best and most cost effective way for you to manage risk. While certain coverage is required by law or by other third parties, we view our role as a business advisor to assist you in making the most cost effective choice of coverage.

Three essential elements are included in our successful service platform: (1) DAILY OR ONGOING SERVICES, (2) MARKETING AND POLICY PLACEMENT, AND (3) PROGRAM DESIGN.

Daily Services -The construction business is complex, but insurance is not! Attention to detail and caring about the everyday tasks listed below make us very different:

• Jobsite visits to understand your operations
• Bid spec reviews
• Policy review and delivery
• Formal service schedule and stewardship meetings
• COIs and ID cards
• Claim and loss control evaluations
• Contract and lease reviews
• Wrap-up program form evaluation and completion (for wrap-ups in which you are enrolled)

Program Design – Identify all exposures, and then establish a plan to manage the exposure within the company’s financial structure:

• Contractually transfer or eliminate the risk
• Insure or retain all or part of the risk through various risk financing options, dividend plans, retention/retro plans, large deductibles, captives
• Use of actuarial models to evaluate loss experience and risk tolerance
• Key ancillary coverage – OCPs, Environmental, Design/Professional, Employment Practices, Wrap-ups, Railroad Protective

Marketing and Policy Placement – Having access to, and credible relationships with, our insurance markets is critical to our clients’ success in obtaining the optimal insurance program. The specific services provided by Strategic Insurance Partners give insurance carriers the confidence that the accounts submitted by us are for the best contractors in the marketplace. As a result, we will obtain on your behalf their best terms and conditions, resulting in a program that will stand the test of time. Keys to this are:

• Submission quality – our submissions are viewed as being the best in the business
• Partnering with the carriers – we have developed strong relationships based on long-term credibility
• Joint carrier/client meetings – fostering a strong relationship between carrier and client
• Relationships with markets’ senior management