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Client Ref.: 150.359
Client and project challenges
Client that since 1855 is dedicated to the development and distribution of products and food supplements, plants and infusions and natural cosmetics to naturally promote the welfare of people.
<!– wpml:html_fragment –> Headquartered in Zona Franca de Barcelona, has three factories in Peñafiel (Valladolid), Puigverd (Lleida) and Barcelona, more than 50 own and franchised stores and approximately 200 employees.
<!– wpml:html_fragment –> Our challenge was to globally analyze their property damage and civil liability insurance contracts.
<!– wpml:html_fragment –> Headquartered in Zona Franca de Barcelona, has three factories in Peñafiel (Valladolid), Puigverd (Lleida) and Barcelona, more than 50 own and franchised stores and approximately 200 employees.
<!– wpml:html_fragment –> Our challenge was to globally analyze their property damage and civil liability insurance contracts.
Our work and approach
We proposed 4 interrelated lines of work: reducing the high number of policies, reviewing the sums insured of the industrial locations, obtaining the activity license of the main factory and drawing up a Contingency Plan.
<!– wpml:html_fragment –> We internally analyzed the existing policies with the idea of unifying them into corporate contracts that would cover all their companies and risk situations. We requested data of the tangible fixed assets with the years of acquisition of each group of goods to be able to apply update coefficients and obtain the insured amounts of content at replacement value at new.
<!– wpml:html_fragment –> We organize risk inspections of the three factories with technical personnel from Ferrer&Ojeda and the insurance companies in order to advise them. The exposure to the risks of Operating Liability, Employer’s Liability and Product Liability were specifically addressed as well as the guidelines of a Contingency Plan for various risks.
<!– wpml:html_fragment –> We internally analyzed the existing policies with the idea of unifying them into corporate contracts that would cover all their companies and risk situations. We requested data of the tangible fixed assets with the years of acquisition of each group of goods to be able to apply update coefficients and obtain the insured amounts of content at replacement value at new.
<!– wpml:html_fragment –> We organize risk inspections of the three factories with technical personnel from Ferrer&Ojeda and the insurance companies in order to advise them. The exposure to the risks of Operating Liability, Employer’s Liability and Product Liability were specifically addressed as well as the guidelines of a Contingency Plan for various risks.
Results
We managed to reduce the number of insurance contracts from 20 to 3 corporate policies with a better administrative approach, higher coverage and costs.
<!– wpml:html_fragment –> The correct valuation of the Insured Sums for Buildings, Contents and Annual Gross Profit moves the Client away from the dangerous underinsurance, aware that possible claims will be managed with the criterion of the replacement or reconstruction of the property to its new condition.
<!– wpml:html_fragment –> We prepare technical risk verification reports with safety recommendations and a periodic follow-up with on-site meetings. The Client’s compliance with the recommendations was rewarded with optimal insurance conditions and the obtaining of the activity license once the authorities verified the improvements made against the risk of fire.
<!– wpml:html_fragment –> The Contingency Plan has been working together for three years considering the interrelation of the activities and risks of the three production plants.
<!– wpml:html_fragment –> The correct valuation of the Insured Sums for Buildings, Contents and Annual Gross Profit moves the Client away from the dangerous underinsurance, aware that possible claims will be managed with the criterion of the replacement or reconstruction of the property to its new condition.
<!– wpml:html_fragment –> We prepare technical risk verification reports with safety recommendations and a periodic follow-up with on-site meetings. The Client’s compliance with the recommendations was rewarded with optimal insurance conditions and the obtaining of the activity license once the authorities verified the improvements made against the risk of fire.
<!– wpml:html_fragment –> The Contingency Plan has been working together for three years considering the interrelation of the activities and risks of the three production plants.
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