BRYSON SAVES A LEADING FACILITIES MAINTENANCE
FIRM OVER $500,000
Bryson Significantly Reduced Insurance Premiums While Simultaneously Improving Coverage
THE CLIENT
A leading facilities maintenance company specializing in high-quality janitorial and operational services approached Bryson for support. Based in Colorado, the company is known for delivering efficient and reliable solutions to businesses across various industries.
THE SCENARIO
The company was faced with a steep 42% increase in their property and casualty insurance premiums. Their coverage, provided by a non-admitted insurer, left them exposed to unnecessary risks and potential liabilities. As they continued to grow, these challenges created financial strain and operational uncertainty. Seeking a more stable and cost-effective insurance solution, they turned to Bryson for guidance.
DISCOVERY
Bryson was brought in through an existing partnership with the company’s private equity firm. The team conducted a thorough review of the company’s insurance program, identifying significant inefficiencies and coverage gaps. The goals were to alleviate the financial pressure of rising premiums, transition the company to a more reliable and compliant insurance carrier, and implement a program tailored to their specific operational risks and growth trajectory.
SOLUTION
Bryson crafted a customized solution, leveraging its expertise and strong relationships with reputable insurance carriers. After exploring various options, Bryson facilitated a seamless transition to an admitted carrier, providing both cost savings and long-term stability. The team also renegotiated rates across multiple coverage lines, including general liability, workers’ compensation, automobile, and excess liability insurance. By optimizing the policy structure, Bryson reduced unnecessary exposure while ensuring the coverage was aligned with the company’s evolving needs.
THE RESULTS
Bryson significantly reduced the company’s annual insurance premiums by $576,000, while simultaneously improving coverage. The transition to a highly rated, admitted insurer provided the company with greater financial security and peace of mind. Moreover, Bryson addressed critical liability gaps, enhancing the company’s risk management framework and setting them up for sustainable growth. Â