Success Story: Solar and Wireless

New Policies and Procedures Make a Significant Difference in Solar and Wireless

Business issue

A business owner in the solar and wireless industry was looking for an insurance broker that could put them in a better position to bid on more jobs. Due to a higher than average number of claims, they were occasionally prevented from doing so.

After meeting with a McGriff Insurance Services team, the business owner signed a Broker of Record letter, fully convinced that McGriff would be a partner they could trust to help them meet their objectives.

Action plan

McGriff’s multi-disciplined Risk Solutions Group met with the client and their insurance carrier to discuss the client’s objective, identify trends and determine action steps to ensure the objective would be met. The McGriff plan included:

  • Visits by a risk control consultant to multiple jobsites to identify leading loss exposures associated with falls and material handling. The consultant then provided guidance on how to prevent these types of losses
  • Job hazard assessments
  • A review of McGriff’s Best in Class “Characteristics for Contractors” to initiate dialogue around safety culture changes
  • Timely claim reviews resulting in multiple reserve reductions
  • Guidance for the client and insurance carrier on ways to mitigate exposures with proper claims management
  • Return-to-work best practices to reduce claims exposure
  • An experience mod rating estimate showing how the rating would be positively impacted by the comprehensive McGriff plan

Result

In just one year, the new policies and procedures led to fewer injuries and a reduction in reserves. The experience mod dropped 33 points, from 1.30 to .97. Thankful for their partnership with McGriff Insurance Services, the client now has a safer workplace and more opportunities to bid on jobs.

Disclaimer: Individual results will vary.

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Insurance products and services offered through McGriff Insurance Services, Inc., a subsidiary of Truist Insurance Holdings, Inc., are not a deposit, not FDIC insured, not guaranteed by a bank, not insured by any federal government agency and may go down in value.

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