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Achieving a 52% Rate Reduction and $300k Premium Savings through Comprehensive Property Program Restructuring

A 3rd generation family-owned and operated commercial egg-laying operation in the Pacific Northwest was continually seeing rate increases year after year.

Cottingham & Butler completed its in-depth Risk Management Assessment (RMA) and uncovered numerous opportunities for improvement, primarily as it relates to the current structure of the property placement in the short and long term.

Our Results

Year 1 - Short Term/30 Days

In the initial year, our team secured a remarkable -13% renewal rate with new capacity, while also negotiating enhanced coverages to fortify the client's risk management portfolio.

Year 2

Building upon the foundation laid in the first year, we began a strategic restructuring of the entire property placement process. By consolidating the client's coverage with a single carrier, we ensured comprehensive coverage for the total insured value (TIV), accompanied by a significantly reduced deductible of only one-third. This meticulous restructuring culminated in an impressive -52% net reduction in premium, yielding approximately $290,000 in savings when compared to the incumbent renewal program.

Enhancements in Property Limits

Previously, the insured had been constrained by purchasing a loss limit solely due to the cost implications of insurance. Leveraging our industry connections, we were able to secure a standard market option that facilitated the acquisition of full property limits. This transition marked an increase of approximately 67% in property limits, empowering the client with greater financial protection and risk resilience.

Property Rate Optimization

Through rigorous negotiation and analysis, we successfully decreased the blended property rate from $1.50 to $0.66 per $100 of value. This substantial reduction not only alleviated financial strain but also underscored our commitment to optimizing cost efficiencies without compromising coverage quality or client satisfaction.

Our meticulous approach to restructuring the property program delivered tangible results, culminating in substantial cost savings, enhanced coverage, and fortified risk management strategies for our client.


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