The Challenge

As the renewal approached for one of our more unique clients - who had recently been delisted from the AIM (Alternative Investment Market, a part of the London Stock Exchange for smaller companies) and who had filed for judicial recovery in Brazil - underwriters were reluctant to offer terms. Deteriorating financials, coupled with the fact that two claims had been filed a couple of months before renewal, did not help underwriters feel at ease with the risk.

Our Solution

At renewal, Equity Risk Partners was able to create a program that essentially mirrored the current program in place, and in certain instances, provided a broader scope of coverage terms and conditions with financially strong carriers. In addition to the coverage enhancements, the renewal premium was reduced by over 40%. Equity Risk Partners accomplished this through a comprehensive marketing approach that started far advance of the renewal date. We blanketed the domestic and international marketplaces and maintained constant communication among all parties at all times. Client interaction is essential to any renewal process. Given the uniqueness of the risk, the history of the claims, and the overall malaise in the marketplace, having our client actively involved in the process was critical. While we were able to ascertain the state of the market for coverage terms and pricing, our client proved to be integral in selling their business plan and vision for the future to the underwriters. Equity Risk Partners was the conduit for that interaction.