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Client Ref.: 7.450.788
Client and project challenges
An industrial group dedicated to the production and coating of aluminum, it is one of the five largest companies in its sector in Europe. The group, which employs more than 330 people at its facilities, spread over four locations, contributes to the circular economy thanks to a production process that is committed to the constant recycling of aluminum. It is involved in the entire aluminum life cycle, from scrap recycling to lacquering, making it a versatile supplier with a large supply capacity.
<!– wpml:html_fragment –> As of December 2018, it is part of an American group, founded in 1992. With an annual production capacity of 125 thousand tons. It has three production sites, a scrap processing center located in Indiana and two paint plants in Indiana and West Virginia.
<!– wpml:html_fragment –> As of December 2018, it is part of an American group, founded in 1992. With an annual production capacity of 125 thousand tons. It has three production sites, a scrap processing center located in Indiana and two paint plants in Indiana and West Virginia.
Our work and approach
Since 2017 we have been managing the main part of the General Insurance package. We started by performing an audit of its insurance program in the branches of All Risks Property Damage, General Liability and Environmental Liability and progressively we have been reorganizing, polishing, improving and complementing it.
<!– wpml:html_fragment –> The main changes we have made have been to renegotiate, relocate and unify in a single TRDM policy the 2 main risk situations of the client through coinsurance supported by 3 leading companies in the sector, redesign the General Liability program reducing it to one policy and equating guarantees and limits per company and redesign and relocation of the Environmental Liability program, changing the insurer, increasing limits and coverage and reducing the cost.
<!– wpml:html_fragment –> Likewise, we have recommended and advised the client on the contracting of other necessary policies, such as RCD&O, Travel Assistance, Pension Commitment Outsourcing, and we are currently studying the contracting of a Cyber Risk insurance.
<!– wpml:html_fragment –> Since 2018, date in which the purchase by the American group took place, we maintain contact and collaborate closely with their broker in the USA, being differentiated the management and control over the insurance programs of both, so that we continue taking care of the insurance program of the Spanish company and they manage the US program.
<!– wpml:html_fragment –> In 2018 we advised the client, during the purchase process for the correct coverage of the board of directors during the process and the subsequent discovery period, contracting an extensive informative period. Likewise, a new D&O policy was contracted for the incoming Board of Directors.
<!– wpml:html_fragment –> The main changes we have made have been to renegotiate, relocate and unify in a single TRDM policy the 2 main risk situations of the client through coinsurance supported by 3 leading companies in the sector, redesign the General Liability program reducing it to one policy and equating guarantees and limits per company and redesign and relocation of the Environmental Liability program, changing the insurer, increasing limits and coverage and reducing the cost.
<!– wpml:html_fragment –> Likewise, we have recommended and advised the client on the contracting of other necessary policies, such as RCD&O, Travel Assistance, Pension Commitment Outsourcing, and we are currently studying the contracting of a Cyber Risk insurance.
<!– wpml:html_fragment –> Since 2018, date in which the purchase by the American group took place, we maintain contact and collaborate closely with their broker in the USA, being differentiated the management and control over the insurance programs of both, so that we continue taking care of the insurance program of the Spanish company and they manage the US program.
<!– wpml:html_fragment –> In 2018 we advised the client, during the purchase process for the correct coverage of the board of directors during the process and the subsequent discovery period, contracting an extensive informative period. Likewise, a new D&O policy was contracted for the incoming Board of Directors.
Results
We have achieved customer loyalty by simplifying the structure of their program, reducing the number of policies per branch and unifying the maturities of the main policies. Likewise, we have reduced costs of the insurance program by improving guarantees in those branches of insurance that they already had contracted and we have complemented it with the contracting of policies that they did not have contracted, causing a better and more complete coverage for the client.
<!– wpml:html_fragment –> All this together with a management that has allowed to solve the important claims that periodically the client has suffered in the Segorbe and Elche de la Sierra plants caused by damages due to detachment in the refractory of the furnaces, fire in the cold laminate, and obtaining important indemnifications that have reinforced their confidence in our work
<!– wpml:html_fragment –> All this together with a management that has allowed to solve the important claims that periodically the client has suffered in the Segorbe and Elche de la Sierra plants caused by damages due to detachment in the refractory of the furnaces, fire in the cold laminate, and obtaining important indemnifications that have reinforced their confidence in our work
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