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)
Are you looking to win? Join the Huddle. Send us your submission, today.