A high-end boutique hotel was a long-time CBIZ Financial Services client when rising property premiums in Florida prompted an introduction to the CBIZ Property & Casualty team.
Issue
The client’s previous insurance broker had mistakenly neglected to cover four units in a separate building across the street from the hotel. This oversight, paired with rising insurance costs, prompted the client’s interest in considering other brokers. Our team also conducted an injury loss trend analysis, which uncovered a trend of small lacerations from cleaning glassware.
Solution
The CBIZ Property & Casualty team took over the client’s insurance program. Our advisors:
- Implemented a white-glove policy for cleaning glassware
- Ensured all buildings and units were properly insured
- Explored alternative policy options
Outcome
As a result of our loss-control initiatives
- The client’s laceration claims went from 19 to less than five in a one-year period.
- We properly insured all property and added EPLI coverage to ensure a more robust insurance program.
- The CBIZ Employee Benefits team was brought in to help optimize the client’s benefits strategy.
- Our commitment to client service fosters a strong client partnership and continued retention.
| Company Information | |
|---|---|
| Industry | Real Estate |
| Geographic Footprint | Florida & New York |
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