RiskWise Report by Shari

RiskWise Report
Insurance | Risk Management | Workers' Compensation | Business Protection
A conversation I had this week reminded me why the insurance renewal process matters.
A prospective client contacted me because their commercial insurance was renewing the following day.  They mentioned that their business model and sales had increased drastically.
Their concern wasn't the premium.
It was the coverage.
It was the process.
They told me they received their renewal paperwork and payment request the day before the policy renewed. There had been no renewal review, no discussion about changes in their business, no conversation about claims or new exposures, and no opportunity to explore other options.
Unfortunately, this happens more often than many business owners realize.
After 30 years in commercial insurance, I've learned that the best renewal isn't one that simply arrives on time—it's one that's planned well in advance.
A proactive renewal review gives your business the opportunity to:
? Review changes in operations, payroll, revenue, or services.
? Identify new contractual insurance requirements.
? Analyze claims trends and Workers' Compensation performance.
? Review potential coverage gaps.
? Allow enough time to approach multiple insurance markets when appropriate.
Insurance renewals should never feel like a last-minute transaction.
There should be a strategic planning meeting focused on protecting your business and helping you make informed decisions before your renewal date—not after.
At Granite Insurance Brokers, we believe every client deserves the opportunity to understand their coverage, ask questions, and evaluate their options before making an important business decision.
Question for business owners:
When was the last time you had a meaningful renewal strategy meeting with your insurance advisor before your renewal?
I'd love to hear what your renewal process looks like and hear about your questions and concerns.
JUST ASK SHARI
 
Shari Morlan, CIC
VP Commercial Lines (CA)
[email protected]
O/M 925-360-7802
License #0788992