A Beef Processor’s Cost-Saving, Risk Mitigation Solution
Food & Agriculture Case Study
With a temporary solution in place, the issue of a full roof replacement remained. Roofing contractors estimated the entire roof replacement project would cause 30-45 days of downtime at the facility, leaving the customer exposed to a $50 million business interruption loss and risk of losing market share. The loss adjustment team understood the importance of eliminating downtime and worked with Brown & Brown to find a roof replacement solution that would not halt production. This solution eliminated additional downtime and mitigated the loss by more than $50 million.
The establishment of the customer/loss adjuster relationship resulted in the following positive impact:
- 30+ days of mitigated restoration time
- Reduction of estimated loss expectancy by 90% ($5.5 million vs.
- Net loss ratio improvement of 99% (net loss $500 thousand vs.
This mitigation success story was critical to Brown & Brown’s ability to retain incumbent capacity to renew the customer’s property program. If not for this proactive mitigation approach, the customer would have faced market share pressure, and insurers would have been hit with a huge loss, making the customer’s already challenging risk even more difficult to insure.
Experience in Complex Industries
Brown & Brown’s success in the food sector is driven by our knowledge and willingness to leverage partners that drive even greater risk mitigation cost-savings for our customers. By working with an industry specialist, such as an independent loss adjuster, our customers benefit from another strategic vendor.
These industry specialist relationships are leveraged to:
- Proactively identify potential shortcomings in disaster planning, loss mitigation, business interruption and supply chain issues
- Differentiate when negotiating terms and conditions with insurers
- Establish a connection between a subject matter expert and customer before a loss occurs
- Seamlessly execute a post-loss strategy that avoids significant downtime, business interruption losses and loss of market share
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