Summary
Taking the low bid would have meant switching insurance carriers - but [Barry Kroll] said the Y already was happy with the service provided by its current carrier, The Redwoods Group in Morrisville, N.C.
Ryan recently worked with a manufacturing company and found places to cut insurance expenses without increasing the company's exposure to risk: * The company's general liability insurance was based on the company's sales; since sales had declined, coverage was cut back. * The lower level of business activity meant the company could idle one of its trucks, take off its plates and remove the truck from the company's vehicle insurance policy. * The truck driver was laid off, so the company reduced its workers' compensation premium. * Inventory had been insured for $1 million, but the value of that inventory had fallen to $800,000. The medical malpractice insurance rates have been declining recently, Kane said.See the full content of this document
Extract
A Little Off the Top
COMMERCIAL INSURANCE is a major business expense, it's essential - and in this tough economy, companies are anxious to save every possible penny, according to insurance industry professionals.
"The environment is very difficult for our customers right ...See the full content of this document
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