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Client Ref.: 112.802
Client and project challenges
Family Office of one of the 3 family branches of a leading national retail group. At the time of the sale of the industrial business, they asked us to manage their insurance of real estate assets, business participations and family welfare.
Our work and approach
On a perimeter of more than 152 risks insured in 114 policies: real estate, industrial buildings, commercial premises, apartments, parking spaces and plots of land, we carried out the following work:
We took out a single policy per company, where all the risks to be insured were included, we would go from having 114 policies to only 4 policies, one per company.
Instead of having Civil Liability coverage with limits from 150k€ to 600k€ in each of the individual policies, we unified in a single CR policy with an indemnity limit of 10M€, incorporating greater guarantees.
We reviewed deductibles and increased the insured limits, insuring at replacement value to new without limit, reviewing the insured sums and helping in the valuation of the assets. We analyze and improve all the individual insurances of the family members, one by one, finding for them, outside the perimeter of the Family Office, tailor-made solutions.
Results
We concentrate in a single broker, Ferrer&Ojeda, and in a single insurer the entire program, negotiating significant economies of scale.
<!– wpml:html_fragment –> Global cost optimization of all its insurances, reducing its cost by 46%. We went from 5 insurance companies to 1, which allowed us a greater focus and interest in the client’s business in an integral way.
<!– wpml:html_fragment –> We simplified the administration of the program with unique maturities for all policies and unified policies from 114 to 4 main policies and unified insurance companies from five to one. We have also created insurance policies for individuals outside the Family Office perimeter, for each family member: home, auto, accident, life, health, death, pension and/or retirement plans.
<!– wpml:html_fragment –> Hiring of new insurances necessary for your real estate and patrimonial activity: Loss of rents, specific policy of legal defense and claim of damages, and non-payment of rents. We proposed and unified maturities to 1/6 for all policies, in most branches.
<!– wpml:html_fragment –> Global cost optimization of all its insurances, reducing its cost by 46%. We went from 5 insurance companies to 1, which allowed us a greater focus and interest in the client’s business in an integral way.
<!– wpml:html_fragment –> We simplified the administration of the program with unique maturities for all policies and unified policies from 114 to 4 main policies and unified insurance companies from five to one. We have also created insurance policies for individuals outside the Family Office perimeter, for each family member: home, auto, accident, life, health, death, pension and/or retirement plans.
<!– wpml:html_fragment –> Hiring of new insurances necessary for your real estate and patrimonial activity: Loss of rents, specific policy of legal defense and claim of damages, and non-payment of rents. We proposed and unified maturities to 1/6 for all policies, in most branches.
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