Corporate insurance buyers identify the most desirable qualities in an insurer as honesty, a genuine wish to help clients prevent losses, excellent service, financial strength, flexibility, good pricing, transparency and good communication in the 2011 Risk Manager Choice Awards survey of 364 insurance buyers conducted by the Flaspöhler Research Group, in partnership with NU.
They also say insurers can help them by pointing out gaps in coverage, understanding their company’s risk profile, and keeping up with regulatory and industry changes and international business challenges—all traits that characterize the top two “best overall” insurers, Zurich and the Chubb Group of Insurance Cos., their clients say.
“The relationship I have with Zurich has been a great opportunity for me,” Procacci says. “They are ready and willing to give us new ideas and ready to do new studies and tests on certain products. This helps us come up with new ideas, and down where we are in South Florida, that’s everything in the real estate business. We love it here, but you have to take certain precautions, and we think our buildings provide that protection.”
William J. Montanez, director, risk management for Ace Hardware Corp. in Oak Brook, Ill., and a founding member of NU’s Risk Managers Advisory Board, says he has great appreciation for Zurich’s property program.