SHARE:
Reducing Overhead Expenses
How Insurance Program Modifications Can Help Firms
Through the COVID-19 Crisis
How Insurance Program Modifications Can Help Firms Through the COVID-19 Crisis
With the sudden uncertainty of the current coronavirus pandemic and resulting economic slowdown, firms are aggressively moving to manage costs.
Key Takeaways:
- In the current environment, all overhead costs need to be reevaluated. Business and professional insurance programs are no exception.
- Most large design firms have not been provided with insightful comparative data on the design and cost of their insurance program to identify potential inefficiencies.
- Data from comparable firms can show that you have a fair deal, or as seen many times by Greyling, you are paying way too much.
- Effective use of benchmark data has helped many firms save millions.
- Long-term relationships can sometimes be surprisingly expensive as premiums drift well above market pricing.
- Handling renewals with an aggressive timeline that allows early completion can result in savings.
Fill in your details to download the full report
SHARE:
Reducing Overhead Expenses
How Insurance Program Modifications Can Help Firms
Through the COVID-19 Crisis
How Insurance Program Modifications Can Help Firms Through the COVID-19 Crisis
With the sudden uncertainty of the current coronavirus pandemic and resulting economic slowdown, firms are aggressively moving to manage costs.
Key Takeaways:
- In the current environment, all overhead costs need to be reevaluated. Business and professional insurance programs are no exception.
- Most large design firms have not been provided with insightful comparative data on the design and cost of their insurance program to identify potential inefficiencies.
- Data from comparable firms can show that you have a fair deal, or as seen many times by Greyling, you are paying way too much.
- Effective use of benchmark data has helped many firms save millions.
- Long-term relationships can sometimes be surprisingly expensive as premiums drift well above market pricing.
- Handling renewals with an aggressive timeline that allows early completion can result in savings.
Fill in your details to download the full report
Reducing Overhead Expenses
How Insurance Program Modifications Can Help Firms
Through the COVID-19 Crisis
How Insurance Program Modifications Can Help Firms Through the COVID-19 Crisis
With the sudden uncertainty of the current coronavirus pandemic and resulting economic slowdown, firms are aggressively moving to manage costs.
Key Takeaways:
- In the current environment, all overhead costs need to be reevaluated. Business and professional insurance programs are no exception.
- Most large design firms have not been provided with insightful comparative data on the design and cost of their insurance program to identify potential inefficiencies.
- Data from comparable firms can show that you have a fair deal, or as seen many times by Greyling, you are paying way too much.
- Effective use of benchmark data has helped many firms save millions.
- Long-term relationships can sometimes be surprisingly expensive as premiums drift well above market pricing.
- Handling renewals with an aggressive timeline that allows early completion can result in savings.
Fill in your details to download the full report
Sign Up to Receive Insights from Greyling
With the sudden uncertainty of the current coronavirus pandemic and resulting economic slowdown, firms are aggressively moving to manage costs. In addition to reducing staff, a difficult step many firms have already taken, every dollar spent on overhead needs to be considered and evaluated. With project delays and shutdowns, clients processing invoices slower, and new opportunities delayed or limited, managing expenses is critical at this time.
- In the current environment, all overhead costs need to be reevaluated. Business and professional insurance programs are no exception.
- Most large design firms have not been provided with insightful comparative data on the design and cost of their insurance program to identify potential inefficiencies.
- Data from comparable firms can show that you have a fair deal, or as seen many times by Greyling, you are paying way too much.
- Effective use of benchmark data has helped many firms save millions.
- Long-term relationships can sometimes be surprisingly expensive as premiums drift well above market pricing.
- Handling renewals with an aggressive timeline that allows early completion can result in savings.
- Alternative risk programs—specifically group captives insurance for certain coverages—can lead to dramatic savings. Greyling’s leading clients have saved $25M in the past five years.