How We Placed a $2B+ Portfolio Alongside a Retail Broker
A broker partner came to Huddle Underwriting Solutions Inc. with a multi-location commercial property portfolio, carrying total insured values in excess of $2B.
This risk was complicated. It involved varied occupancies, significant scale, and a loss history that would never be ignored by markets. The account sat with a large international broker… and “on paper,” there was no reason for it to move.
How an Opportunity Like This Can be Lost:
If an account like this gets shopped “as-is,” this is what happens:
• markets see the losses first, and everything else second
• capacity dries up or arrives with punitive terms and restrictive conditions
• the broker burns credibility with underwriters, presenting a risk nobody wants
• the broker burns credibility with the client, coming back empty-handed against an entrenched incumbent
• the clients concludes the incumbent was right all along
• the door closes for years
/ THE RESULT OF LOSING: a $2B+ portfolio commanding a multi-million dollar premium (and a career-level commission) goes to someone else’s book
How Huddle Seized this Opportunity
Huddle seized this opportunity by refusing to market the risk in its condition “as-is.”
• we worked with the broker to change the risk itself, before it ever hit the market
• we helped the broker guide the client through real risk management improvements, including: water detection systems, upgraded maintenance protocols, and documented capital improvements (backed by professional property management)
• our business development team worked directly with the broker to build a submission around an actively improved “turnaround story” (instead of a loss-challenged account), with the evidence to prove it
The Result of Winning, with Huddle
Our presentation let markets see the risk in a completely different light, resulting in a bound placement with:
• a multi-million dollar annual premium
• primary and excess property layers
• flood and earthquake aggregate protection
• and a total property tower of over $200 million
In Partnership with Huddle’s Approach, the Broker Won…
…by helping their client with deeply involved risk management advice (that the large international incumbent never offered)