Approach

For new accounts, we must thoroughly review a client’s operations, exposures, claims, and how they feel about their risk and insuring that risk. It is also helpful to learn about and review safety programs, loss control, risk transfer, and what services have been utilized by current insurers and brokers. It is also very helpful to review the current insurance program and insurance policies.

Methodology

Once these items are done we can consider which insurance companies will best fit the client and what services London & Norfolk is expected to provide and we can suggest additional services or methodologies or reporting that we feel will benefit the client. If we move forward, the appropriate underwriting information is collected and presented to the insurance companies. Proposals are then received from the insurance companies and carefully reviewed and analyzed by L&N. London & Norfolk then works to negotiate the best possible terms with the insurance company best suited. A complete and detailed proposal is presented to the client along with any applicable options. Coverage is bound and certificates are issued and policies are delivered after they have been thoroughly reviewed by London & Norfolk.

Renewals

The renewal process starts way in advance of the policy expiration date to allow ample time for exposure review and updates, presentation to and negotiating with underwriters, coverage review and analysis of new policies and any alternative offers, presentation to the client, and then binding and issuance of certificates. A key element of the renewal process is whether or not terms of coverage will be requested from other insurance companies. At London & Norfolk, we believe in developing relationships with an insured and their insurance company. Therefore, unless there is a compelling reason to market the policy, we typically support maintaining coverage with the existing carrier. We know from experience, that there are new insurance companies entering the market and that a current insurance company may not fulfill a client’s needs or expectations. We are certainly not unwilling to market and account but it is important to do this thoughtfully.

Servicing of our existing accounts is incredibly important to us and we dedicate ourselves to responsive and accurate servicing. Our methodology and approach is to respond to any client or carrier request in a thoughtful and efficient manner. We know that our client’s time is valuable. For programmatic servicing, such as claim reviews or exposure reviews, it is typically discussed in advance when these events will occur or we will simply contact the client based on their specific needs.