Brokerage Services

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.

Marketing:

  • 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 Analysis:

  • 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.

On-Going Services:

  • 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.