Commercial Equipment Manufacturer – Contract Negotiations made “SIMPLE”
An equipment manufacturer, through their broker, approached Old Republic about major contractual difficulties with their incumbent carrier. The incumbent carrier was not willing to make “minor” changes to their insurance agreement, even though the client retained all of the risk of loss from the insurance policies via matching deductibles. The renewal date with the incumbent carrier was one week away and the broker had orders from the client to negotiate a new insurance arrangement with Old Republic.
After several discussions with the client’s broker over two business days, Old Republic put forth a final insurance proposal and proposed new contract language to the client that resolved the issues at hand. The client awarded their business to Old Republic the next day.
In the end, Old Republic put forth solutions to the client / broker and helped solve their impass. This is another example of how Old Republic listened to our clients and brought value to the table, in a timely manner.
|
|
