Experience

Industry: Contractor
Revenue: Multi-billion

Challenge: A multi-billion dollar contractor was looking for ways to cut costs and improve profitability in light of recent economic conditions.  Brown Smith Wallace helped it establish a captive insurance company.  We advised the company on how to set up its captive to serve as a reinsurer so that it would cover the layer previously retained via a large deductible policy.  This enabled the client to document and capture all of its subcontractor's risks in order to pass the costs onto the subcontractors.

Solution: Our client realized annual savings of hundreds of thousands of dollars.  The company was also able to achieve a 20% reduction in insurance costs, stabilize their insurance budget, achieve greater control over corporate deductibles, obtain direct access to reinsurance markets and improve claims handling and data collection processes.