As a broker we represent you, the buyer of insurance, in the world insurance market. Our role is to assist you in evaluating operating risks and in preventing financial loss to you and your stockholders. We do not sell insurance; rather we work with you to purchase it appropriately in an overall insurance and risk management strategy.
Carrier selection, enrollment, communication systems, technical backup and compliance assurance are addressed. Experience is actively monitored throughout the term of coverage; adjustments for excessive use and other claims aberrations are suggested accordingly. Renewals are a more proactive event, with Allen Lawrence & Associates prepared to negotiate an optimum review with the carrier.
Identification of areas of risk and possible financial loss is an ongoing service we perform in conjunction with you and your operating personnel. Further, your insurance program is constantly reviewed and your loss experience is analyzed to support decision-making. Our risk management recommendations are phrased in the context of your financial position, philosophy and plans for the future. The degree of possible loss must be assessed in terms of loss or damage to physical property, loss of earnings or extra expenses resulting from such loss or damage and loss at suppliers?, and/or processors' plants. Risk exposures such as General and Products Liability, Directors & Officers Liability, Aviation, Bonding, contingent exposures, Marine, credit risks, foreign risks,Workers' Compensation and Employee Benefits must all be addressed.
In conjunction with you, we assist in the determination of limits of liability required to ensure that your assets are properly protected.
When exposures are identified, we design and recommend the most economical method for the assumption of your risk, based on your risk philosophy and financial needs. The professionals involved in analysis and resolution of your risks have diverse backgrounds and skills resulting in a detailed analysis of your exposure.
Depending upon your needs, goals and the condition of the insurance market, appropriate alternatives for risk transfer may be suggested. These may include self-assumption of some portion of the risk through a deductible, co-insurance or a combination of both, including self-insurance.
Proper presentation of your risk to underwriters is crucial. Correct underwriting data, a knowledgeable description of your company's operations, selection of markets and knowledge of market conditions result in superior quotations.
Market selection also takes into consideration underwriters' knowledge of our industry and their capability to provide service - not just their premium considerations.
When all of these elements are properly combined, then, and only then, is the goal of broad form coverage and economical premium achieved.