January 2019 Update

January 2019 Update
February 7, 2019 GuardPro Insurance

January is often a tough month to come into after the holidays, but we strive to hit the ground running and 2019 is no different.

  • We renewed 32 happy customer’s Insurance Policies this month, keeping our retention rate at a staggering 95%
  • GuardPro welcomed 10 new clients into our specialized program, where we saw an average savings of 21% in premiums.
  • Our Risk Solution action plan saw us bring a new client into the program by helping with an open Workers Compensation claim. We will monitor the claim, work with the adjuster and doctors to move the claim to closed.

Standout Success Story

While we are proud of all the work we put into GuardPro and for our clients, below is our standout success story for this month:

I have placed the general liability coverage for a security guard company located in Alabama for over the past 5 years. Every year I inquired about the insureds workers compensation and was consistently told they were happy with their work comp policy and broker. When the general liability came up for renewal in January 2019, I once again inquired about the workers’ compensation coverage. My insured informed me that the workers’ compensation security guard rate had increased each year for the past 2 years. The insured stated they have not had a WC claim in the past five years and the broker could not provide a good explanation for the rate increase. The insured asked if I could check my work comp markets to see if I can obtain a more competitive rate for their renewal.

I had a short time-frame to obtain the workers’ compensation quote before the insured’s renewal date. They got me the loss runs showing no reported losses, along with the copy of their renewal quote from the current carrier/broker. I was able to take the work comp information provided and turn around a quote to this insured within 48 hours. The security guard WC rate I was able to obtain is 22% cheaper than the renewal rate quoted! This rate reduction added up to $10,000 in annual workers compensation premiums savings.