Commercial Equipment Manufacturer – Policy Servicing Issues
A world wide manufacturer of commercial equipment, whose activities include the installation and maintenance of such equipment, was experiencing late payments by customers due to the late production of related insurance policy documents, including customer specific additional insured endorsements, owner & contractors protective and railroad protective liability policies. The backlog of documentation and late payments were impacting their business results.
The prospect instructed their broker to find a carrier that could perform policy issuance services in a timely manner. Knowing our reputation for quality service, the broker approached Old Republic Risk Management to put together a primary casualty insurance program including a streamlined approach for issuance of customer required endorsements and OCP/RRP policies. After dialogue with the broker and insured to make sure the expectations were fully understood, Old Republic Risk Management responded by developing mutually agreeable procedures and timelines to meet this prospect’s needs.
Since the insured has been with Old Republic (for several years now) there has been absolutely no backlog of documentation and most importantly, the client receives customer payments on time. In the words of the Risk Manager, “Old Republic has not only met my expectations, they have exceeded them on every level of service.”
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