MIS’s brokerage services are summarized in the following categories:
Day to Day Administration:
- Assist in the reporting of claims as losses occur and monitor all open claims activities to ensure expedient claims resolution and disposition.
- Maintain historical records on losses, limits of liability, premium, etc.
- Issue all certificates of insurance.
- Provide accurate and timely billing.
- Review and issuance of all policies and endorsements.
- Act as the depository for all vendors’ certificates of insurance.
- Review certificates for adequacy of coverages.
- Review claims with carriers.
- Conduct strategic planning to ensure a successful renewal.
- Obtain exposure and underwriting information and submit to carriers to obtain premium indications for the various lines of coverage.
- Analyze premium indications and coverage terms and conditions and prepare recommendations as appropriate.
- Negotiate insurance placements and renewals.
- Maintain positive and productive relationship with carriers to benefit our clients.
- Monitor the financial strength of all appointed markets.
- Financial projections for budgeting.
- Analyze existing risk financing plans and make recommendations for alternative risk transfer and risk financing programs.
- Conduct retention analysis.
- Develop and trend losses.
- Analyze property and casualty exposures and make recommendations to existing risk management, loss prevention, and loss control activities.
- Provide routine updates on all legislative activities that could impact the commercial property and casualty insurance industry.
- Provide strong claims advocacy for any claims or incidents involving lawsuits or substantial bodily injury or property damage.
- Review all outside contracts and agreements to determine coverage adequacy, appropriateness of contract language, and to transfer the risk whenever feasible.
- Assist in developing insurance requirements and indemnity provisions for inside contracts.
- Work with the insurance carriers and/or consultants to obtain updated appraisals and replacement values for all buildings.