Delivering for Best-in-Class Wholesaler-Distributors

Custom Solutions To Risk Management Problems

Taking an Individual Approach for Every Firm

CORE360

A Program for Evaluating & Minimizing Your Total Cost of Risk

A comprehensive approach that considers the 6 cost drivers of your risk management program, including program structure, coverage gaps, uninsured/uninsurable losses, loss prevention and claims, and contractual liability. By helping you understand all of your actual and potential costs, providing actionable advice and delivering world-class support and service. To learn more, please visit Gallagher CORE360

Regardless of the size of your company, Gallagher has the right P/C offering to mitigate your risks at very competitive rates.

Single Parent Captive Insurance Programs

Your operation faces expenses and risks related to litigation and product recalls, pollution, business interruption, and administration actions on a daily basis. The problem is that traditional insurance products are either inaccessible or cost-prohibitive.

Through this exclusive partnership, however, Gallagher can protect your organization from self-insured business risk while creating a new, potentially profitable business.

What is Captive Insurance?

While captive insurance is traditionally considered a “large company” product that serves as an alternative to conventional insurance, NAW and Gallagher are bringing this solution to smaller and medium-sized companies. A captive is an insurance company that insures the risks of an affiliated business or group.

Why Haven’t I Heard About Captives Before?

Captive insurance has been used by the Fortune 500 for decades. Traditionally believed to only work for larger businesses, captive insurance can now be accessed by middle-market companies looking to gain more control over their insurance risks, while reaping the rewards that come from ownership, improved safety and return of underwriting profit.

Key Benefits

  • Creditor protection
  • Creation of a new, profitable business
  • Coverage for currently self-insured and uninsured risks
  • Control over the claims process
  • Captive ownership by key employees

Ideal Candidates Have:

  • Gross revenue of $30 million+
  • Currently paying >$200,000 in P/C premium
  • Uninsured losses of $100,000 or more annually
  • 50 or more employees
  • Pre-tax income above $1 million
  • Stable cash flow

Gallagher welcomes the opportunity to discuss captive insurance companies with you, including details on formation and risk sharing. Through the NAW partnership, wholesaler-distributors will receive a 15% discount on captive feasibility study fees.

We have found that companies taking part in Single Parent Captives also may benefit from participating in a captive program that recovers medical stop-loss insurance. To learn more about Gallagher’s employee benefits captives, you can reach out to the NAW-Gallagher Property Casualty or Benefits Consultants.

Cyber Liability

Coverage Highlights:

The policy Gallagher offers as part of the NAW Program includes full limits for:

  • Multimedia liability
  • Cyber extortion
  • Business income and digital asset restoration
  • $100k sublimit for PCI DSS assessments
  • Privacy liability (including employee privacy)
  • Regulatory claims
  • Security breach responses including crisis management
  • Security liability

Why Should I Consider Purchasing Cyber Liability Coverage?

  • Credit card crime costs more than $7.5 billion annually. Compromised companies can be held liable for forensic investigation costs, credit card reissuance costs, and the actual fraud conducted on stolen credit cards.
  • Reputation is extremely important to a wholesaler-distributor. Who is going to assist your company with the public relations needed to keep customers from switching to your competitors?
  • What would your company do if its data or information was lost due to an employee losing a laptop, iPad or memory stick?
  • If you have any personal data about employees, customers or suppliers, you are liable if that data is lost.
  • Every company relies on computer systems to operate their business. What would your business do if a hacker shut down the sales software, POS network, or even the payroll system?
  • Social media is becoming a bigger part of company marketing plans, but businesses are also responsible for their employees’ actions on LinkedIn, Twitter and Facebook.
  • More than 40% of all cyber attacks occur against small companies with fewer than 250 employees. Hackers see them as easier targets due to scarcer security measures and technological oversight.

Procuring Cyber Liability insurance is often lengthy, requiring a 10-page application, interviews/conference calls with CIOs and CTOs, and a lengthy and protracted underwriting process. Consequently, many companies forego this valuable insurance protection. But you don’t have to be among them, because our cyber liability program for wholesaler-distributors requires only a handful of easily answered questions that can be completed in less than three minutes.

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