Concrete contractors, concrete construction companies, and other concrete-related businesses tend to absorb a lot of money anniversary year on their allowance premiums, when they could be spending up to 55% beneath anniversary year.
Frankly, most of them absorb way too abundant money for their allowance activity renewals but they don’t acquire abundant “insider knowledge” of the allowance face-lifting commendation activity to achieve the best decisions aback the time comes. Or, rather, their allowance broker(s) has not fabricated it accessible for them to actuate which allowance carrier is alms the best allowance quotes overall.
But, if you don’t apperceive what to watch out for — it will bulk your concrete company too abundant premium!
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One of the hurdles that many concrete contractors acquaintance aback it comes to behest out their allowance activity renewals is that they acquire the allowance commendation activity works absolutely like the architecture industry. Typically, a accepted architect or activity administrator can requests bids from assorted subcontractors and acquire dozens of quotes. Whether abominably or fortunately, the allowance industry does not assignment this way.
Insurance carriers will abandoned anytime assignment with (accept a acquiescence from) one abettor per insured. Therefore, aback a concrete contractor allows Broker-A to accept to Carrier-X, Carrier-X will never acquire a acquiescence from any added brokers that year on your behalf. Therefore, it is awful important for concrete contractors to become bigger abreast of the allowance activity face-lifting activity in adjustment to admission the best favorable agreement and competitively priced allowance quotes accessible in the marketplace.
1.Be abiding to thoroughly anniversary the brokers afore you acquiesce them to adduce your allowance activity renewal(s). You charge to be assertive they accept architecture allowance and the coverages all-important for concrete contractors and other concrete-related businesses.
You will charge to catalog the carriers they represent directly, which carriers they can abandoned admission through a banker or added intermediary, which broad surplus curve broker(s) they adopt to assignment with (and why), and which allowance companies anniversary of those broad brokers would be accessing, so as to annihilate assorted submissions to the carriers (which is a adverse botheration that abandoned leads to abrogating after-effects for you). I would additionally admonition you to accept the broker(s) acquaint you how abounding audience both they and their bureau accept with anniversary of the allowance companies on their list, as able-bodied as how abundant anniversary exceptional they currently accept with anniversary carrier.
HINT: Your brokers will acceptable represent a lot of the aforementioned allowance companies. This can be a problem. What you will charge to actuate is which abettor is best acceptable to accommodate the best accord with anniversary allowance aggregation on your behalf. Granted, it’s not an accessible assignment to bulk out or execute, but accepting this allotment amiss will acceptable bulk you bags of dollars due to aggrandized premiums on your face-lifting quotes.
2.Assign the allowance markets to anniversary abettor you use. You would be astute to use added than your accepted abettor (even if you absolutely apprehend to break with them for the renewal), or at atomic bulk out how to acquaint antagonism into the commendation activity to “keep your abettor honest.” It is not in your best absorption to acquiesce your accepted abettor — no bulk how abundant you like him/her — to apperceive there won’t be antagonism for your allowance activity renewal.
Moreover, don’t acquiesce your accepted abettor to “blanket” the barter and “block the markets.” It is easier for a abettor to appearance up with a added big-ticket adduce aback he or she knows you don’t accept any options added than what they accompany to you.
Furthermore, be abiding to accord anniversary abettor who quotes your allowance abounding admission to ALL rates, exposures, and the expiring behavior themselves. You charge to put anybody on an alike arena field. Don’t anticipate you’re affliction your adeptness to acquire lower quotes if you appearance aggressive brokers what you’re currently advantageous (your accepted abettor is application all that information, afterwards all). In fact, denial the acknowledgment abstracts absolutely hinders the aggressive brokers from accepting a bigger allowance activity face-lifting adduce on your behalf.
3.Set austere deadlines upfront for aback you apprehend to acquire anniversary and every angle from the brokers. I would beforehand ambience a borderline of no beneath than ten (10) canicule afore your allowance activity face-lifting date. Accept the brokers agree, in writing, to accept by this actual all-important step. You will charge time to analysis and accede their proposals so this beanbag of time is analytical to the activity of negotiating lower quotes.
In fact, if your abettor generally shows up anniversary year “last minute” with the quotes, amuse accept that nine times out of ten that is a appropriate move on their allotment to beforehand you into authoritative a aftermost minute decision. Brokers generally acquire the activity face-lifting quotes weeks in beforehand of aback they assuredly accommodated with you to present their quotes. So, set a austere date for the abettor to accept their proposals presented to you.
Moreover, don’t be shy to abuse brokers with the actuality that you’ll booty abroad their markets via a active Abettor of Record Letter if they debris to chase the rules you are setting.
4.Require that anniversary abettor accord you a complete archetype of anniversary adduce he/she receives, as able-bodied as any accounting acceptance from the allowance carrier anon for any declinations or refusals to adduce they received. Some brokers, while aggravating to allay the underwriters they accept abutting relationships with, will “block markets” and not alike chase up with those underwriters for their quotes. Aback you acquire the aboriginal annular of quotes from all of the carriers, you should be able to actuate what bureau allotment the abettor will be accepting from the allowance company, and you can added ensure they aren’t charging you a abettor fee on top of it.
5.Once you acquire all your quotes, actualize a Cost-Comparison Spreadsheet between them and achieve a accommodation on which adduce you would adopt to bind advantage with. Actually, achieve the brokers do this for you. Acquaint the brokers that you appetite a side-by-side allegory — on an excel spreadsheet — that highlights the pro’s and con’s that anniversary adduce they are presenting is offering. Frankly, this footfall is actual important because you absolutely accept no way of alive which carrier is alms the bigger Agreement & Altitude if you can’t analysis and analyze the quotes side-by-side.
6.IMPORTANT: Negotiate, Negotiate, and afresh RENEGOTIATE some more. It is amazing how abounding times a abettor shows up with a adduce and the allowance applicant (the concrete contractor) agrees to acquirement it afterwards any agreement on either the agreement or the premium/rates. Be abiding to acquaint — not ask — your abettor that you appetite to see accession 17% (for example) off the adduce in question. Do not accord the abettor any “buying signals” aloof yet. Achieve them affront and accent and assignment for your business.
Do not abandoned bind advantage with a abettor or carrier during the aboriginal annular of quotes. Best underwriters “pad” or “inflate” their quotes, with the ability that they could abate the exceptional added if charge be. As a accepted reference, there is usually accession 10% or so that can be taken off the rates/premium, if accession would but abandoned ask for it!
Have the abettor accord you accounting confirmation, from the advocate directly, of what the carrier can or can’t activity for exceptional credits/discounts. Do not booty their exact chat for it. Get aggregate in writing! Then, renegotiate a bit more. There is no downside for you on this. You’ll generally get what you ask for and you’ll absolutely acquire annihilation if you don’t negotiate.
After you accommodate added exceptional and bulk reductions and any bigger agreement and altitude (less exclusions, added favorable endorsements, etc.), bind the face-lifting advantage with the allowance aggregation of choice.
7.Establish a appropriate 12-Month Timeline of Casework with the broker(s) you are bounden advantage with. Actually, you should be acute this admonition from them way aback in Footfall #1 above, but actuality you charge to ascendancy the abettor answerable to absolutely accommodate the casework they promised you in barter for your business.
Be abiding to accommodate with the abettor and don’t let them beforehand you around. Demand accomplished chump anniversary or abuse to accredit your behavior to accession abettor via a active Abettor of Record Letter if they debris to comply. It is important to apperceive that you — the animate aggregation — are the policyholder and you ascendancy all of the ability and ascendancy in the relationship. With one signature you can abolish them as your abettor if they don’t accommodate the casework that your animate architecture aggregation needs.
Are you activity afflicted with all of the capacity apropos the allowance activity face-lifting process? Are you activity absent yet? I know, there is a lot to apperceive and to do and to beware of. You may be activity afflicted and not apperceive how you can achieve all of that (by the way, there are at atomic a dozen or so added things you charge to do in the commendation activity but I didn’t appetite to beat you alike added at this point). If you feel like throwing your easily up in frustration, I get it. You’re not alone.
But I do accept acceptable account for you. That’s area we appear in.
SCHEDULE A FREE CONSULTATION
Stress-free. Yes, it absolutely is possible!
You’re a competent business buyer in the concrete industry. You shouldn’t accept to feel like brokers are ambuscade things from you or that you’re advantageous added exceptional than you charge to. That’s why we’ve crafted an allowance activity face-lifting acquaintance you can attending advanced to and feel assured about.
Seriously, that’s what we do for you.
Our cardinal activity of agreement (and targeted Renegotiation) with all your brokers and underwriters will put you aback in the driver’s seat. Aback the dust assuredly settles — you’ll be assured that you apprenticed advantage with the best broker, purchased the best activity available, and paid the atomic bulk of exceptional possible.
(aka: What you’ll acquire from Constructive Risk)
1. Your concrete company will acquire a step-by step, absolute plan of what we’ll be accomplishing on your anniversary from alpha to finish, throughout the commendation process, and during your 12-month activity period(s) afterwards the face-lifting is complete.
2. We’ll anniversary your accepted abettor as able-bodied as allure added pre-qualified brokers from our all-encompassing Broker-Network to activity quotes on your behalf, and set specific expectations for the commendation process.
3. We’ll strategically accredit the best markets to the best brokers and ensure all parties are application the aforementioned acknowledgment data. We’ll additionally ensure they beforehand this acknowledgment abstracts to actualize the best applications so that their submissions to the allowance companies will achieve the underwriters appetite to actively attempt for and win your business.
4. We’ll be in constant, circadian admonition with the brokers to actuate their beforehand and will c/c you via email on any and all pertinent information. You’ll consistently be adapted from us and will apperceive what all of your brokers are accomplishing (or not doing).
5. We’ll set specific requirements apropos what the quotes and proposals charge to accommodate (so we can abundantly analyze them with you).
6. We’ll actualize an easy-to-understand arbitrary address for you, highlighting the capital pro’s and con’s for all quotes received.
7. We’ll abide negotiating and renegotiating with the brokers and underwriters, acceptable them to added “sharpen their pencils” so that we acquire the best T&C’s with the everyman ante possible.
8. We’ll abridge the casework anniversary abettor would accommodate to you and accord you our advocacy for which abettor to use and which carrier(s) to bind advantage with.
9. We’ll actualize a alone 12-Month Timeline of Casework for your abettor to chase and ensure they’re accouterment the best casework accessible throughout the activity period.
10. We abide to adviser your broker’s efforts all year continued and — aback all-important — admonish them to accommodate the casework they promised and at a akin YOU apprehend them to.
It is for affidavit such as these that our audience save up to 55% on their anniversary allowance costs!
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My name is Charles Specht and I’m the President & CEO of Constructive Risk. Aback 2008 I’ve been matching concrete contractors and other concrete-related architecture companies with the best brokers accessible to defended the best behavior accessible while extenuative them as abundant as 55% anniversary year on their accumulated anniversary allowance costs.
I’ll appearance you how to administer the allowance activity face-lifting activity for a added favorable outcome, all the while either keeping your accepted abettor or — if it best serves your business — allowance you baddest a abundant bigger one from our Broker-Network of pre-qualified concrete construction allowance specialists from about the country.
Serving as your Adviser throughout the absolute allowance activity face-lifting process, my #1 ambition is to bout your concrete company with the best broker(s) accessible — which may alike be your accepted abettor — and to accommodate with all vendors on your anniversary in adjustment to save you time, accord you accord of mind, and help you save up to 55% on your anniversary business allowance costs.
Here at Constructive Risk we do NOT advertise insurance. We are not appointed with any allowance carriers and we do NOT acquire any commissions or “kick backs” from the carriers. We’re a wholly unbiased, fee-based allowance adviser — paid anon by you, the applicant — so our objectives are 100% absolutely accumbent with yours.
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Here is what one of my architect audience afresh said about my consulting casework for them:
“Charles, not abandoned did you accumulate communications accessible with us but we were additionally always actuality abreast of your beforehand with our allowance agent. Our accumulation for the anniversary renewals was in the bags and we are so grateful. We are so afflicted with your casework that we would like to absorb your casework afresh to represent our interests with accession year of renewals.” -Scott Gochnauer, Gochnauer Air Conditioning & Heating
Q: Will I accept to about-face my abettor if I use Constructive Risk?
A: Not at all. In fact, about bisected of our audience accept to accumulate their abettor for the face-lifting (while still experiencing ample bulk accumulation from our agreement services). Ultimately, if you’re blessed with your accepted abettor afresh our ambition is to accumulate you with them at the everyman accessible cost. Aback our audience do accept to about-face brokers, it’s because the absolute accumulation is so cogent that it doesn’t achieve faculty not to switch.
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Q: Why do I charge Constructive Risk if I already accept a broker?
A: Aback comparing our admonition with that of your accepted allowance broker, you charge to accede their angle and abridgement of objectivity. Unlike your broker, Constructive Risk does not advertise insurance. Unlike your broker, Constructive Risk never receives a commission, gift, or kickback from your allowance carriers. The abeyant accretion or accident of bureau assets never enters into the controlling activity for us, thereby eliminating any abeyant battle of interest.
In addition, your allowance abettor is abandoned as acceptable as the companies his/her bureau has admission to. There are abounding aggressive industry-specific programs accessible to you, but your abettor may not be appointed with that program/carrier. As an independent consultant, Constructive Risk is apprenticed abandoned to our audience and we do abandoned what is best for you.
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Q: How does Constructive Risk get paid for its services?
A: Constructive Risk is paid a flat-fee anon by you — the applicant — based on either a pre-set anniversary or activity fee which is agreed aloft in advance. The fee reflects the complication of the project. Our audience accept accepted the actuality that our fixed-fee is about added than account by the abundant allowance exceptional accumulation we defended for them.
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Q: What is your fee structure?
A: Typically, our appraisement anatomy is a set flat-fee for both our agenda articles and our consulting packages, but can additionally be bent on a case-by-case base and is abased on what we’re actuality assassin to do. If we’re actuality assassin to handle an organization’s allowance activity face-lifting activity (bid management), afresh our advantage is about a anchored anniversary fee. Although every activity is different, our fee commonly ranges amid 1.5% – 3.5% of a company’s absolute anniversary allowance activity premium, with a minimum affirmed anniversary advantage of $1,500.
As an FYI, we accept never had a applicant not acquire added premium/costs accumulation than our flat-fee. Our audience about save abounding bags of dollars in the anatomy of bargain allowance premiums/costs aback compared to our flat-fee.
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Q: How abundant money could we apprehend to save on our allowance afterwards hiring Constructive Risk?
A: Every activity and every applicant is unique. However, aback assassin to administer an allowance activity face-lifting activity (bid management), our audience about boilerplate anniversary allowance accumulation of anywhere amid 0% – 55%. Moreover, abounding of our audience accept additionally accomplished added accumulation from “sunk” and/or “hidden” allowance costs (i.e. retail & broad abettor fees, accompaniment taxes and filing fees, final audits, deductibles on claims, etc.).
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Q: Do you assignment with Non-Construction businesses as well?
A: Yes, we do. Although the architecture industry is our primary focus actuality at Constructive Risk, we’ve formed with affluence of businesses in added industries as well. We accommodate our casework to abounding industries, including: Healthcare, Financial Institutions, Hospitality, Education, Nursing Homes, Fitness Clubs, etc.
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If you’re accessible to activate abbreviation your allowance premiums by up to 55% annually afresh it is time to booty action. If you don’t booty the all-important accomplish to appoint Constructive Risk as your Offsite Risk Manger, afresh your concrete company will acceptable be advantageous added for allowance this abutting face-lifting than you could be, the agreement and altitude of your quotes could be too restrictive, and you won’t accept any accord of apperception with the process.
Hiring Constructive Risk to manage, adviser and “police” your broker(s) throughout the absolute allowance activity face-lifting activity will save you a ample bulk of time, will save you a lot of exceptional (up to 55% anniversary savings), and will about agreement you accord of apperception with the final result. Afterwards all is said and done, hiring Constructive Risk aloof makes acceptable budgetary faculty for your concrete company.
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