Clients
Building Better Insurance and Better Value
Situation
A major hedge fund with a private equity and venture capital arm had purchased the same management liability insurance for several years, when it hired CRS to analyze its exposure and review policy terms and conditions. CRS found that several fund entities, including the corporate entity, were uninsured or significantly under-insured in certain areas.
Solution
CRS advised the client and worked with its broker to conduct a full market analysis, restructure the insurance program, and provide benchmarking guidance. Ultimately, the client secured an additional $25 million limit of liability which adequately addressed the exposure of the entity and all of its funds on a global basis. Several key coverage issues were identified and addressed, filling gaps in the fund's previous insurance coverage.
Over the course of its analysis, CRS also identified significant inefficiency in the fund's complex aviation insurance program. Collaborating with the fund's broker, and bringing to the table three leading aviation insurers, CRS advised on the creation of a new program that provided more efficient and effective coverage for the company's aircraft and hired, non-owned aircraft -- at a savings of approximately $500,000 over its existing aviation program.
The value created and savings driven by CRS during these initial analyses have led to lasting relationship with this client. CRS has since been retained on an annual basis by the client for four consecutive years.
Return to Home
