How strategic support from Miller secured a smoother insurance renewal
Specialist insurance broker Miller outlines how its expert support helped a client accurately review and present its thorough risk assessment to its insurers — turning caution into confidence for a smooth insurance renewal process
Miller’s commitment to getting law firms the right insurance that matches their needs and providing service that goes “above and beyond” is something that runs through every member of its solicitors’ professional indemnity (PI) team.
One of Miller’s clients was struggling to clearly communicate the firm’s risk management and operational practices in response to a specific insurer’s questionnaire. The firm’s overly cautious submission created a perception by underwriters that its compliance and risk management functions were unclear and lacking, raising concerns among underwriters and casting doubt over the renewal.
Keen to help the client overcome this challenge, Miller’s team of solicitors’ PI specialists stepped in to provide immediate and dedicated support to the firm.
Providing expert support every step of the way
The team conducted an in-depth analysis of the firm’s processes and assisted the client in articulating these to the insurer. They also ensured the client fully understood the questionnaire and its purpose, and provided additional guidance to help deliver a timely response to insurers.
Input from Miller’s risk manager on the insurer’s perspective helped the client to understand their viewpoint, alongside practical guidance to address process gaps and implement quick improvements to enhance their risk management and compliance functions. In addition, the solicitors’ PI team also helped devise a plan for future long-term projects.
Miller articulated why the original responses had been provided and re-presented the client’s improved risk management and compliance functions, ensuring underwriters had a thorough understanding of the firm’s current, future and ongoing frameworks and plans.
A smooth insurance renewal
The outcome was full insurer confidence in the firm’s risk and compliance controls. The renewal process proceeded smoothly, and insurers were confident enough to offer rating reductions. As a result, the team’s support led to a successful renewal and improved terms for the client.
Miller’s commitment to our clients is to treat every renewal as an opportunity to improve coverage and pricing. Get in touch if you’d like assistance on your upcoming renewal.
