COVERAGE SOLUTIONS

Solving an International Manufacturing Challenge

One of our manufacturing clients was interested in entering an overseas market. However, in addition to providing a prototype of their product for a full year's trial period, the buyer required a significant financial guarantee in the event that the product did not perform according to specifications.We were able to procure Manufacturers Errors and Omissions coverage at a limit in excess of the guarantee amount and the buyer accepted this in lieu of the original instrument that they required. This creative solution allowed our clients to expand their geographic reach and create opportunity in a new market place.

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Going Public With the Right Protection

A highly specialized manufacturing client was in the process of generating an IPO for the first time. We were approached about developing a Directors and Officers Liability coverage program for the IPO that would offer a high layer of protection throughout the potentially lengthy public offering process.

We worked with our market partners to build a high tower of coverage that offered a complex and wide-ranging level of protection at a fair premium. As a result, our client was able to begin the IPO process with a high level of comfort that they had the right risk management protection for their directors and officers during a critical period.

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Going the Extra Mile to Manuscript Coverage

We were introduced to a firm who provided cellular communications support by leasing enough square footage on deep water oil platforms for their towers. The company's typical customers are commercial fishing enterprises, oil rig operators and stevedores.Our fact find revealed that the client's risk management program did not provide contingent business interruption coverage. The client had deep concerns about this news, and their broker was not able to provide the insurance. We offered to provide a solution. The client accepted our challenge.Knowing this risk would end up in London, we flew overseas to meet with underwriters on the Lloyd's floor. We then crafted the manuscript insurance agreement, provided the underwriting data and presented an attractive solution for our client that solved their needs.

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Improved Fleet Coverage for Less

We performed a coverage analysis on a national distribution company that maintained a large fleet of vehicles. Our review revealed that their Transit policy carried a small deductible with relatively small limits for each shipment of goods while in transit. In our conversations with our contact we learned that most of the company's shipments contained small values and traveled on a local basis. However, this company made a few key long-haul deliveries weekly and the value of those shipments far exceeded the limit on the policy. Our contact felt comfortable self-insuring any small losses but needed coverage for any potentially large claims that could impact his key long-haul deliveries.We determined through this process that the company should raise their overall deductible limit while also raising their level of coverage for their targeted long-haul shipments. This led to a lower premium, a higher level of protection and a new client partnership for Cohen-Seltzer.

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Does Your Business Have a Peak Season?

A national candy manufacturer had a thrity-five year relationship with a large regional insurance brokerage firm. Cohen-Seltzer was asked to compete for their business. We discovered early on that winning on price was not enough. We would need to identify program deficiences along with an action plan to address them.Through our fact find we determined that the firm earns 75% of its gross revenue between Thanksgiving and Easter. In addition, 65% of this firm's annual production takes place during the three months leading up to Thanksgiving. Due to the extreme seasonality of the firm's sales, raw materials and inventory, we identified an exposure which, if ignored, could cause the firm to go out of business immediately if a certain loss occurred. Immediately upon understanding this coverage flaw, the client hired Cohen-Seltzer, Inc. Since 1984, the owners have relied on our outside the box thinking as well as our passion for crafting the most thorough coverage solutions possible.