College Bookstore and Retailer Realizes Unexpected Insurance Savings

Support for the University of Northern Iowa
 
Following the expansion and remodeling of its retail store and offices, University Book & Supply (UBS) wanted to know more about its changing insurance needs.  UBS consulted insurance experts with Expense Reduction Analysts (ERA).
 
ERA helped UBS better understand an insurers valuation process and how to establish proper limits on buildings and personal property coverage.
 
UBS was able to remain with its incumbent broker and save 17% while improving coverage.  Prompted by ERA’s involvement, the broker marketed UBS’s renewal to both the national incumbent insurer and a regional insurer to create true competition.

Because UBS serves and supports the University of Northern Iowa and the surrounding community, the extra dollars ERA helped find will enable continued support in a tough market.

UBS President, Kathleen Hesse, a strong negotiator herself, was impressed with ERA’s results and validation of coverage at market rates.

Benefits from the ERA Review:

  • Coverage improvements and premium savings under the Directors and Officers Liability.
  • A Marshall & Swift valuation survey resulted in a reduction in property limits by 9.7%.
  • Transparency of broker compensation.
  • Premium reductions in a firming market.

“ERA worked with the brokers of my choice. The greatest benefit was the expert advice on property limits.” - Kathleen Hesse, President of University Book & Supply

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