Account Management
With a multi-level service approach, Graham Company is uniquely positioned to address our clients’ highly complex insurance needs. As the industry landscape becomes broader and more intricate, we remain committed to providing you with the best options in the marketplace.
The Account Management primary role is to manage the insurance renewal process and provide day to day risk management consulting.
Renewal Process: While we consider any necessary changes and recommendations to your insurance program throughout the policy period, six months out from your renewal each year we review updates and changes to your operations and risk complexion in order to make sure your risk management and insurance program evolves with you.
In order to make the process easier and more efficient for our clients, two years ago Graham invested in technology from Indio, which we’ve dubbed “Graham Exchange”, which helps to streamline the info gathering process. No longer do you have to answer the same or similar questions on five different applications as the system carries answers over from application to application. Graham Exchange also serves as a repository for all of the renewal info in one place so all of your information is at your fingertips.
Graham’s submissions on behalf of Windover and our other clients are second to none. While most other brokers rely on two or three page check the box Acord applications to present clients to the insurance marketplace, Graham takes a different approach. We start with a detailed underwriting narrative providing a deep dive look into Windover's history, operations, leadership and risk management program. Among other things, we highlight the steps taken by Windover to make it such a fine organization including claims handling and oversight, contractual risk management as well as steps taken to mitigate loss activity.
Most underwriters, by their nature, are skeptical people. In the absence of information, they will assume the worst case scenario. Our submission and renewal process answers all the questions the underwriters have and some they didn’t even ask but are happy to know. Bottom line, Graham’s process helps our clients submissions get to the “top of the pile”.
Each year, our renewal process culminates with the presentation of our written proposal which provides an executive summary, by line of coverage, of the renewal terms and conditions and compares pricing and rates year over year. Our proposal also includes our copyrighted Coverage Specifications which detail the coverage limits, deductibles, terms and conditions that we have negotiated on your behalf. Any changes year over year are highlighted in yellow. The presentation discussion is also an opportunity to review our suggested changes and recommended enhancements to Windover’s insurance program.
Program Administration & Risk Management:
Below is a list of the other day-to-day services Windover may benefit from.
- Identification and Analysis of Hazard or Risk: Our Producers and Account Managers focus on identifying the hazards or risks that a business is exposed to and understanding the various forms of insurance to cover these exposures. We consider this to be an on‐going process and encourage our insureds to notify us immediately if there are any changes in operations.
- Implementation of the Most Economical Methods of Handling Risk: The Graham team is extremely creative in setting up insurance and risk management programs that will properly protect our clients in the most cost‐effective way. This would include identifying risk financing options, captives, excess liability loss sensitive plans, deductible buyback programs, as well as exploring the feasibility of self‐ insurance.
- Direct the Annual Renewal Process: Our renewal process is very thorough and designed to provide the best program for your business each and every year. As a result, we start early and we involve your organization in each phase of the process.
- Risk Management and Insurance Review of Merger, Acquisition or Divestiture Activity: We are available to assist your organization in analyzing the risk management issues that arise in Merger, Acquisition or Divestiture situations. In addition, we will review the liability portion of the transaction documents and identify the liability exposures your organization is retaining and/or transferring.
- Contract Review: On an ongoing basis, Graham will review the insurance and indemnification provisions of contracts which are entered into by your organization as a part of doing business. Our review of your contracts will enable us to advise you of any area in which the contract might conflict with your insurance coverage, or where you may be able to better transfer risk to a 3rd party, protecting your insurance loss history.
- Review of Audits, Letter of Credit Requirements, Escrow, Retro Calculations, Accruals, and Premium Adjustments: We will review all audits and retrospective rating calculations for accuracy before allowing the insurance company to invoice you. During our renewal process, we will also review your Letter of Credit and Escrow requirements and provide estimated accrual amounts (large claim reserves, audits, etc.) for your financial reporting.
- Projection of Workers Compensation Experience Modification Calculations: Graham Company reviews all data involved with the promulgation of our clients’ Workers Compensation Experience Modifications. Designed to assist you in forecasting your Workers Compensation costs, this analysis can be utilized to evaluate the effects of changes in loss reserves, payrolls, rates, etc. on your Experience Modification.
- Quality Control/Policy Checklisting: For each of your policies, at least two individuals will complete a detailed policy checklist to ensure that the policy terms and conditions have been modified in accordance with the specifications outlined in our proposal. Invariably, there are corrections which must be made before the policy is considered 100% accurate. As a standard practice, Graham will forward each policy to you with a letter outlining the various changes we have asked the insurance carrier to make to your policy. Once the changes have been endorsed onto the policy, we will forward the endorsements with an explanation of each.
- Account Review: Each year or when necessary, we re‐evaluate the coverages we have designed on your behalf to be sure they continue to be appropriate. It is critical that we maintain an awareness of your operations so that new exposures are properly covered by the policy forms provided. We create a unique and detailed Underwriting Submission, which is essentially a prospectus of your organization and allows us to tell your story to the insurance market. The Underwriting Submission includes coverage specifications that instruct the carrier on exactly what coverage needs to be provided, making our process the exact opposite of how most of the industry procures coverage. We undertake all of the appropriate underwriting steps (such as reviewing your loss history as well as the risk control programs you have in place) before sending the Submission to the insurance carriers, so we have a good understanding of the most aggressive pricing that can be supported for your organization, given your loss history and risk control programs.
- Preparation of Insurance Binders: We will always attempt to obtain insurance policies from each insurance carrier on a timely basis. However, to document coverage to the greatest extent possible, in the interim, we will provide binders to you which include a detailed listing of the coverage specifications which we have negotiated for you. Insurance binders prepared in this fashion provide verification that coverage is bound as agreed.
- Preparation/Review of Certificates of Insurance: Graham will prepare Certificates of Insurance required of you by third parties. We can also implement for you a formal Certificate of Insurance Review Program which will enable you to review the Certificates of Insurance you require from third parties. This will help to insulate you from claims arising out of products manufactured by, or services performed, by others.
- Automobile Insurance Identification Cards & Accident Report Kits: We will prepare Automobile Insurance Identification Cards for each of your corporately insured vehicles, as well as provide you with Accident Report Kits in order to assist your drivers in obtaining the necessary information following an automobile accident.
"I have been working with Graham for over 30 years and simply put, they have made us a better organization from a risk management and safety standpoint..."
- Ross Myers, CEO, Allan Myers, Inc.