Colleges Insurance Focus
A major challenge for colleges is the limited number of insurers interested in providing cover for education risks. Because of the restrictive market, there are limited options available making it more of a sellers’ market.
Expense Reduction Analysts has been very successful in redressing the balance for other sectorsfacing similar market conditions. This has been achieved by:
- Repositioning a client’s risk profile to emphasise good risk features such as risk management practices.
- Opening up new markets to create increased competition.
- Involving specific and special risks so they can be properly understood.
- Ensuring that the brokers deliver service which supports the objectives of both the college and insurer.
- Ensuring that the brokers deliver service which supports the objectives of both the college and insurer.
Increasing demands of legislation and the so-called ‘compensation culture’ mean that adequate insurance protection is essential. However, effective demonstration of good risk management practice will provide differentiation to realise the best potential from the insurance market.
Download the full case study on Gloucestershire College today to find out how ERA was able to help the college through three successive cost reduction projects, and the significant benefits they received.
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"The benefits for Gloucestershire College in engaging Expense Reduction Analysts were so significant that we have engaged them for each of the last three years."