A sporting agency with limited risk management protocols began experiencing a high volume of claims. Due to their troubling loss history, their insurance premiums were expected to increase over 500%.
CPG proposed the idea to self-insure the first $1,000,000 through a self-insured retention (SIR), and re-insure the excess liability. To maintain an effective SIR program, CPG developed a comprehensive risk mitigation plan to significantly reduce our client’s self-insured losses.
The implementation of this strategy not only provided insurance cost savings of over $1,000,000, but greatly reduced the number of claims and self-insured losses through fostering a risk management culture.