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Writing Specifications for Bidding your Insurance program





If you have not accepted competitive proposals for your organization’s property and casualty insurance program in the last three or four years, you may be missing out on an opportunity to make significant improvements in coverage, cost or both. The domestic property and casualty insurance market is very "soft" right now and competition for your premium dollar is stronger than ever. We can gather together all of the necessary underwriting data and develop technically correct bid specifications and guide the process from beginning to end. Whether you wish to use your current agent or broker, or invite competition from several, it is essential for everyone to receive the same information and for the process to be tightly controlled if fairness is to be ensured. When the proposals are presented, we give you an "apples to apples" comparison in a spreadsheet format along with our recommendation as to the best combination of coverage and cost.
After you receive the "hard copy" policies, we will review them to be certain they match the terms of the proposal and note any inconsistencies. Having the guidance and counsel of Insurance Audit throughout this process can not only offer the possibility of improvements in coverage and/or cost, but also save you hours of time, effort and frustration.

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