Insurance Solutions for the Chemical Industry
The operations of the chemical distribution industry include a number of processes that are unique to this sector. Fenn & Fenn Insurance Practice Inc. has worked closely with chemical distributors for many years. Drawing upon our expertise, we take a forward thinking approach to fully understand our client’s business, with a view towards accomplishing the following:
- Identification of risks and coverage needs, leveraging our industry specific knowledge.
- Designing the appropriate coverage for consideration by Insurers, irrespective of past policies arranged by other brokers.
- The provision of advice to the client on uninsured exposures and mitigation channels available such as insurance, contractual risk transfer, or risk management and loss prevention.
- We also possess experience with co-ordination of insurance during mergers and acquisitions.
Evaluating insurance broker service:
The motivation of a chemical distributor to purchase insurance is primarily driven to satisfy their customer’s demand. We have found that often insufficient attention is paid to “what the coverage provides”; therefore insurance tends to be very undervalued. This places the chemical distributor at risk of sustaining an uninsured loss. At Fenn & Fenn Insurance Practice Inc., we make it our business to advise our clients about the value of their policies and the protection provided.
The broker’s role:
The insurance broker’s role is not simply to see a client once a year to collect insurance applications. Rather, they should be a trusted and valued adviser to the client in all risk and insurance related matters. Your broker should become a proactive part of your firm, prepared to join with you in the discussion and understanding of risk related issues affecting your business. An ideal broker should be imaginative and resourceful, with a passion to help and the ability to offer “outside-the-box” solutions when the circumstances require it. Finally, your broker should red flag risk related issues and suggest available options to mitigate and insure against the risk.
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905-836-6066 or email us at firstname.lastname@example.org.
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