Property Insurance Programs
Unlike other property insurance brokers, Lockton has a defined business methodology in our approach to property programs. In order to effect meaningful improvements in your property insurance program, each of the component costs of risk associated with the program must be examined.
Your property insurance program will most likely contain numerous frictional costs embedded in the transaction. By examining the component cost of the property transaction and addressing each one individually, a course of action can be set to achieve incremental improvements in each one of the identified components that taken in the aggregate, will amount to significant reductions in cost.
Property Catastrophe Insurance
One of the challenges facing property catastrophe insurance buyers is that carrier risk models are not often transparent. Lockton’s CLEAR process opens the “black box” of carrier risk models. CLEAR stands for Catastrophic Loss Evaluation and Analytic Response. By making the underwriting process more understandable, Lockton’s CLEAR helps level the playing field for property insurance buyers.
Lockton’s property catastrophe team helps you:
- Identify your major “cost drivers” for wind and earthquake risks
- Formulate strategies to reduce property catastrophe insurance premiums through engineering or operational improvements
- Reduce the “assumption tax” that carriers charge for incomplete data
- Pre-underwrite your property catastrophe risks to strengthen your negotiating position
You will benefit from our property insurance services including:
- Concurrent marketing strategies
- Detailed analysis of underwriting data
- Direct access to (and control of) facultative reinsurance
- Engineering expert advice
- Quality submissions to underwriters
- Senior-level project teams
Click here to learn more about our expertise in Construction, Engineering and Machinery Breakdown.
Service starts with listening. We take the time to understand your specific goals, design a program that fits your needs, aggressively negotiate coverage, and implement a service plan. You will have the same dedicated service team throughout the entire process which allows us to anticipate your needs and create accountability.
It’s all about you. As a private, family-owned company, all our Associates focus solely on you, our client, rather than public shareholders.
Long-term thinking. Clients stay with us based on our expertise, creative solutions, seamless global resources and outstanding service. Our client retention rate of 95 percent reiterates our commitment to each and every client.