{"id":8668,"date":"2021-12-16T08:00:27","date_gmt":"2021-12-16T08:00:27","guid":{"rendered":"https:\/\/www.bbrown.com\/case-study\/consolidation-of-policies-and-coverage-changes-helps-reduce-program-costs\/"},"modified":"2021-12-16T08:00:27","modified_gmt":"2021-12-16T08:00:27","slug":"consolidation-of-policies-and-coverage-changes-helps-reduce-program-costs","status":"publish","type":"case_study","link":"https:\/\/www.bbrown.com\/ca\/case-study\/consolidation-of-policies-and-coverage-changes-helps-reduce-program-costs\/","title":{"rendered":"Consolidation of Policies and Coverage Changes Helps Reduce Program Costs"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content_no_spaces&#8221;][vc_column]\n\t<div class=\"hero hero--wrap    \">\n\n\t\t<div class=\"hero--background-image hero--background-image-blur\">\n\t\t\t<div class=\"hero--overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"hero-background\" style=\"background: url(https:\/\/www.bbrown.com\/wp-content\/uploads\/2021\/12\/b9e806c4-1838-4aef-9408-275ed3d85d98.jpg) center center no-repeat; background-size: cover;\"><\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"hero--container\">\n\t\t\t<div class=\"container\">\n\t\t\t\t<div class=\"hero--inner width-100\">\n\n\t\t\t\t\t\n  <div class='content-heading  100%  '>\n    <p class='text-white subheading'>Real Estate Case Study<\/p>\n    <h1 class='text-white    '>\n      Consolidation of Policies and Coverage Changes Helps Reduce Program Costs\n    <\/h1>\n\t\n  <\/div>\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n\t\n[\/vc_column][\/vc_row][vc_row row_padding_bottom=&#8221;pb-2&#8243; full_width=&#8221;stretch_row&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;bottom&#8221;][vc_column width=&#8221;1\/4&#8243;][vc_single_image image=&#8221;791&#8243; img_size=&#8221;full&#8221;][\/vc_column][vc_column width=&#8221;3\/4&#8243;]\n  <div class='content-heading  100% content-heading--ruled '>\n    \n    <h2 class='text-brand-dark-blue    h2'>\n      The Request\n    <\/h2>\n\t\n  <\/div>[vc_column_text]<\/p>\n<h3>Assist this mid-sized apartment owner and manager with their insurance program.<\/h3>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_top=&#8221;pt-1&#8243; equal_height=&#8221;yes&#8221; content_placement=&#8221;bottom&#8221;][vc_column][vc_column_text]<\/p>\n<h4><strong>Company Profile<\/strong><\/h4>\n<p><strong>Industry: Real Estate<\/strong><br \/>\n<strong>Location: Southeastern Pennsylvania<\/strong><br \/>\n<strong>Annual Property &amp; Casualty Revenue: $50M &#8211; $400M<\/strong><\/p>\n<p>A mid-sized apartment owner and manager turned to Brown &amp; Brown to help improve their inefficient insurance program. With more than ten policies all on different renewal dates, the renewal process was cumbersome and constant. The insured\u2019s previous team offered limited service leaving the insured without adequate support.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_bottom=&#8221;pb-2&#8243; full_width=&#8221;stretch_row&#8221; equal_height=&#8221;yes&#8221; content_placement=&#8221;bottom&#8221; css=&#8221;.vc_custom_1638896243466{background-color: #eaeaec !important;}&#8221;][vc_column width=&#8221;1\/4&#8243;][vc_single_image image=&#8221;794&#8243; img_size=&#8221;full&#8221;][\/vc_column][vc_column width=&#8221;3\/4&#8243;]\n  <div class='content-heading  100% content-heading--ruled '>\n    \n    <h2 class='text-brand-dark-blue    h2'>\n      The Solution\n    <\/h2>\n\t\n  <\/div>[vc_column_text]<\/p>\n<h3>The team performed thorough reviews and highlighted gaps in coverage.<\/h3>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_top=&#8221;pt-1&#8243; full_width=&#8221;stretch_row&#8221; css=&#8221;.vc_custom_1638896256859{background-color: #eaeaec !important;}&#8221;][vc_column][vc_column_text]Brown &amp; Brown started by analyzing the insureds insurance policies and discovered multiple coverage gaps, including:<\/p>\n<ul>\n<li><strong>Coverage limit of $10M on a $100M portfolio<\/strong><\/li>\n<li><strong>Limited coverage for roofs over 20 years old<\/strong><\/li>\n<li><strong>Limited coverage for subcontracted work<\/strong><\/li>\n<li><strong>Exposure to employment and management related claims<\/strong><\/li>\n<\/ul>\n<p>In addition to highlighting gaps in coverage, which the insured had not previously known about, the Brown &amp; Brown team uncovered opportunities to consolidate policies for potential premium savings. To address the lack of support that the customer experienced with the previous broker, our team outlined a service plan that included an account manager and three assistant account managers to assist with the customer\u2019s core service needs.[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_bottom=&#8221;pb-2&#8243; equal_height=&#8221;yes&#8221; content_placement=&#8221;bottom&#8221;][vc_column width=&#8221;1\/4&#8243;][vc_single_image image=&#8221;792&#8243; img_size=&#8221;full&#8221;][\/vc_column][vc_column width=&#8221;3\/4&#8243;]\n  <div class='content-heading  100% content-heading--ruled '>\n    \n    <h2 class='text-brand-dark-blue    h2'>\n      The Results\n    <\/h2>\n\t\n  <\/div>[vc_column_text]<\/p>\n<h3>Implemented coverage corrections and consolidated policies resulting in savings of over $40,000.<\/h3>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_top=&#8221;pt-2&#8243; equal_height=&#8221;yes&#8221; content_placement=&#8221;middle&#8221;][vc_column][vc_column_text]The customer worked with our team to find new coverage solutions to address the policy gaps identified. Our team negotiated with new carriers to:<\/p>\n<ul>\n<li><strong>Consolidate policies<\/strong><\/li>\n<li><strong>Correct the coverage gaps in the previous policies<\/strong><\/li>\n<li><strong>Deliver a premium reduction<\/strong><\/li>\n<\/ul>\n<p>The newly negotiated insurance program incorporated coverage corrections and policy consolidation, resulting in more than $40,000 in savings. The team continues to deliver performance improvements to the apartment owner and manager, and they receive ongoing service and support from the Brown &amp; Brown team.[\/vc_column_text][vc_single_image image=&#8221;1423&#8243; img_size=&#8221;medium&#8221; onclick=&#8221;custom_link&#8221; img_link_target=&#8221;_blank&#8221; link=&#8221;https:\/\/www.bbrown.com\/wp-content\/uploads\/2021\/12\/Case-Study-Real-Estate-Brown-Brown-1.pdf&#8221;][\/vc_column][\/vc_row][vc_row][vc_column]\n  <div class='content-heading  100% content-heading--ruled '>\n    <p class='text-brand-blue subheading'>Ready to help minimize your risk and uncertainty?<\/p>\n    <h2 class='text-brand-dark-blue   text-bold h2'>\n      Contact us for more information.\n    <\/h2>\n\t\n  <\/div>\t<div class='wpb_content_element text-left btn-container'>\n\t\t\t\t\t<a class='btn btn-brand-green  '\n\t\t\t\thref='\/us\/contact' target='' data-toggle=''>\n\t\t\t\t<span class=\"btn-text-color--default\">Contact Us<\/span>\n\t\t\t<\/a>\n\t\t\t<\/div>\n[\/vc_column][\/vc_row][vc_row][vc_column][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<span style=\"font-weight: bold; font-style: italic; font-size: 10.0pt; background: white;\">DISCLAIMER:<\/span><span style=\"font-style: italic; font-size: 11.0pt; background: white;\">\u00a0<\/span><span style=\"font-style: italic; font-size: 9.0pt; background: white;\">Brown &amp; Brown, Inc. and all its affiliates, do not provide legal, regulatory or tax guidance, or advice. If legal advice counsel or representation is needed, the services of a legal professional should be sought. The information in this document is intended to provide a general overview of the topics and services contained herein. Brown &amp; Brown, Inc. and all its affiliates, make no representation or warranty as to the accuracy or completeness of the document and undertakes no obligation to update or revise the document based upon new information or future changes.<\/span>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>A mid-sized apartment owner and manager turned to Brown &#038; Brown to help improve their inefficient insurance program. With more than ten policies all on different renewal dates, the renewal process was cumbersome and constant.<\/p>\n","protected":false},"author":66,"featured_media":8577,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"service":[12],"industry":[41],"location":[17],"class_list":["post-8668","case_study","type-case_study","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Consolidation of Policies and Coverage Changes Helps Reduce Program Costs - Brown &amp; Brown<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bbrown.com\/ca\/case-study\/consolidation-of-policies-and-coverage-changes-helps-reduce-program-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consolidation of Policies and Coverage Changes Helps Reduce Program Costs\" \/>\n<meta property=\"og:description\" content=\"A mid-sized apartment owner and manager turned to Brown &amp; Brown to help improve their inefficient insurance program. 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