ADVISORY SERVICES
Insurance Is More Than
the Policy
Placing insurance is only part of the work. Crump Management Group provides ongoing analysis and guidance around the decisions that shape an insurance program, from evaluating exposures and requirements to renewals, claims, and changes that occur throughout the relationship.
What Advisory Looks Like in Practice
Insurance programs should evolve as properties, businesses, obligations, and exposures change. Our advisory work focuses on understanding those changes, evaluating how they affect the insurance program, and helping clients make informed decisions throughout the relationship.
Coverage & Exposure Review
We review insurance programs against the assets, operations, responsibilities, and financial exposures they are intended to protect. That may include evaluating limits, deductibles, exclusions, endorsements, and other policy terms to identify areas that deserve closer attention.
Property Valuation & Insurance-to-Value
Establishing a property limit requires more than carrying forward last year's value. Replacement cost estimates, appraisals, construction costs, property improvements, and policy valuation provisions can all affect the amount of insurance that should be considered. We help clients evaluate the information available and understand how property values interact with the terms of the policy.
Insurance Requirements Analysis
Insurance obligations can come from many places, including loan agreements, leases, contracts, governing documents, and other agreements. We review applicable insurance requirements against the program to help identify where changes or additional documentation may be needed.
Renewal Strategy
Renewal strategy begins before a renewal quote arrives. Changes in property, operations, ownership, exposures, insurance requirements, losses, and market conditions can all affect the program. We review those changes and evaluate the available options so renewal decisions are made with current information.
Claims Guidance
When a claim arises, the advisory relationship continues throughout the process. We help clients understand the insurance issues involved, provide guidance as questions arise, and remain engaged as the claim progresses.
Certificate and Insurance Documentation Support
Certificates, evidence of insurance, additional insured requests, and other insurance documentation are a routine part of commercial insurance. We help clients address these requests and coordinate documentation related to the insurance program.
Frequently Asked Questions
An insurance coverage review evaluates an existing insurance program against the assets, operations, responsibilities, and exposures it is intended to protect. Depending on the client, the review may include limits, deductibles, valuations, exclusions, endorsements, insurance requirements, and other policy provisions that could affect how the program responds.
Insurance requirements may arise from loan agreements, leases, contracts, governing documents, and other agreements. The review compares those requirements with the existing insurance program to identify provisions that may require attention, additional coverage, or documentation.
An insurance program should be reviewed when meaningful changes occur, not only when the policy approaches renewal. Acquisitions, property improvements, changes in operations or ownership, new contracts, financing, losses, and other developments can all affect insurance needs.
Property limits should be evaluated using information appropriate to the property and the policy's valuation requirements. Replacement cost estimates, appraisals, construction costs, property characteristics, improvements, and policy provisions may all be relevant. Market value and tax value should not automatically be treated as replacement cost.
An insurance advisor can help the client understand how the policy may apply, provide guidance on insurance-related questions, and remain involved as the claim progresses. The carrier and its adjusters are responsible for investigating and adjusting the claim and determining the carrier's coverage position under the terms of the policy.
We help clients address certificate requests, evidence of insurance, additional insured requests, and other documentation related to policies placed through the practice. Requests that require changes to coverage or endorsements are evaluated based on the policy and the underlying insurance requirement.