At Kapnick, we understand that managing commercial risk is crucial for maintaining the stability and growth of your business. Our dedicated commercial risk department offers comprehensive insurance solutions tailored to meet the unique needs of your enterprise. With our holistic, one firm solutions, we provide integrated services that streamline your insurance management, reduce complexity, and ensure you are fully covered.
The Benefits of One Firm
Our integrated “One Firm” solutions enable us to provide a coordinated approach to risk management for your commercial risk, employee benefits, and even personal insurance needs. This not only simplifies your insurance portfolio but also ensures all aspects of your organization are adequately protected without redundancy or overlap.
Best of all, you have our dedicated expert support, always tailored to your specific business needs and goals.
Case Study: One Firm Solutions for a Property Developer
A developer specializing in commercial and residential properties experienced significant challenges due to managing their insurance with two separate brokerages. This led to issues such as overlapping programs and gaps in coverage. Kapnick’s one firm approach offered the perfect remedy, providing innovative and integrated solutions.
Here’s how we addressed their specific issues:
Commercial Risk
PROBLEM: The client had a property rate much higher than average, a lack of formal safety and claim handling protocols, and deductible clauses that were causing large gaps in their coverage.
SOLUTION: Kapnick implemented a behavior-based workplace safety program and established specific protocols for claims management, then engaged a new carrier partner who offered better terms.
IMPACT: Not only did this reduce their premium by $550,000, but also broadened their coverage with previously uninsured/underinsured exposures.
Employee Benefits
PROBLEM: The client had a misalignment between their benefits program and long-term organizational goals, communication challenges with their employees, and a benefit design that encouraged overutilization. They also had many manual processes in place that tied up their valuable HR team.
SOLUTION: Kapnick and the client worked together to create a long-term benefits strategy that aligned with the organization’s goals, and then communicated the changes to employees, taking time to educate and explain. This encouraged thoughtful plan selection and utilization.
IMPACT: Not only was Kapnick able to reduce their overall benefits expenses, but ultimately they achieved a cost well below national average.
Personal Insurance
PROBLEM: For their personal insurance, the client had a mess of policies with:
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- Inadequate personal liability limits
- Multiple effective dates & insurers
- Overlapping & gaps in coverage
- Uninsured assets & asset protection vehicles
SOLUTION: Kapnick worked with them to consolidate their insurance programs with a carrier who specialized in high net worth families. This not only broadened their coverage and increased their liability limits, but eliminated
IMPACT: The client had better insurance protection of their personal assets with reduced costs and streamlined billing and renewal processes.
How Kapnick Can Help
At Kapnick, our aim is to provide tailored risk management solutions that align with your business objectives. We work closely with you to identify potential risks and design insurance programs that offer robust protection without unnecessary complexity. Our customer-oriented approach ensures you receive:
- Expert Consultation: Professional advice to navigate complex insurance landscapes.
- Innovative Solutions: Customized to meet your specific needs and long-term goals.
- Ongoing Support: Continuous assistance to adapt and optimize your insurance coverage over time.
Partnering with Kapnick means entrusting your risk management to an experienced team dedicated to safeguarding your business. Contact us today to learn how we can help you achieve peace of mind through integrated, holistic, one firm solutions.
