At some point in your AIG career (especially if you read this very newsletter each season), you’ve likely heard about—or participated in—a major win that resulted from collaboration between various departments within PCG. Our Risk Management Services department partners with underwriting, marketing, claims and others on a daily basis to provide custom solutions for our clients, but sometimes the “big win” isn’t the only story that deserves the pat on the back. In fact, prompt and decisive action to cull poor performing business from our book is of equal importance. We work diligently to ensure that not only are we writing the right risks, but also we aren’t writing the wrong risks. Here’s just one example of this type of success:
As told by Jeff Lounsbery, Risk Manager based in the Greater Philadelphia area:
Tom Emmons, PCG Underwriter, contacted me on a Friday afternoon requesting urgent assistance. A policyholder’s contractor had provided documentation claiming that the multiple requirements I noted on a previous inspection had been addressed. I knew this property had many signs of neglect and was skeptical of the contractor’s claim.
The policy was set to non-renew, and the broker was putting pressure on Tom to renew based on the contractor’s confirmation. I wanted to make sure this property was in fact a good risk prior to proceeding. I arranged to visit the property on the next business day. After completing the follow-up assessment with the contractor on site, it was clear the work had not been done. I immediately notified Tom and provided supporting documentation in case the broker pushed back. The broker no longer pressured Tom to renew the policy after reviewing my supporting documentation. Thankfully, we were able to get off this bad risk and avoid a potential large loss in the future.