UIC in the past several years has provided its contract review, risk strategy, and sourcing for various construction projects from 1 billion dollar commercial office building and hotel and convention centers to the latest multi-use residential and commercial in New York City. These cases were from ownership as well as construction manager perspective.
In all cases contracts between all parties were properly reviewed and Coordinated with legal and insurance so there were no gaps.
Insurance was sourced using UIC’s proprietary specifications and intellectual capital yielding coverage and results 35% below budget set forth by leading brokerage and insurers.
Claims handling and subcontract review were established yielding a smooth process and lower risk profile.
Defective Products Extension (Rip and Tear Endorsement)
The Xavier Yard Zoning (XYZ) Corporation is a large privately owned concrete and rebar company based in Fort Worth, Texas. XYZ Corp has secured a contract to supply concrete and rebar building materials for a new 40-story hotel being constructed in downtown Dallas valued at $100 million in supplies, labor, and potential revenue. They have a risk management department managed by Teddy Johnson (TJ), who has been in the risk management business for the last 15 years.
They were using a super regional broker and have garnered all of the required coverages and bonds for a low deductible General Liability policy a first-dollar Workers’ Compensation policy and a low deductible third-party employer liability policy.
To save money, they retained UIC’s services as an insurance consultant to assist in the renewal of XYZ’s policy. We were able to market the program to a variety of markets and secured:
We made the loss projections based on their 5 years of loss history and projected that even with a slight increase in claims XYZ would significantly benefit from executing your risk program. TJ and the XYZ management team were ecstatic about the savings and with the capital were able to competitively bid and win the Dallas Hotel project with the working capital saved in the insurance fixed costs.
UIC has been and continues to be the leading mining consultant designing its first bespoke manuscript property policy in 1984 for Dome Mines Group.
UIC has provided its consultative services to the largest marina operators in the world and currently advises over 175 marinas.
UIC has been instrumental in establishing the proper Risk Management foundation for Biotech companies in their early stages.
UIC Inc. was retained to provide an independent risk management audit and was given complete access to all requested information.
UIC, Inc. performed an independent risk management review and was provided complete access to senior management and all appropriate information.
The commercial property insurance market is witnessing a challenging landscape characterized by capacity limitations, rate increases, and ...
Security breaches are prevalent in all industries and often go undetected and wreak havoc for extended periods. These breaches not only cause irreparable reputational damage but also have signiﬁcant monetary considerations in the form of class-action lawsuits.
At UIC, Inc., our team represents a new paradigm in the insurance market—a truly independent consultant providing our clients with the guidance, knowledge, and resources to negotiate the right amount of coverage while minimizing premiums.
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