May 11, 2021
Every company wants lower
insurance premium costs. But with a hardening insurance market, how
can construction companies lower their spending on insurance? What
are actionable steps contractors can make to become more attractive
to brokers?
In this podcast
episode, I talk to Mary Grandy, Senior Vice President at Epic
Insurance Brokers and Consultants. She gives us a brief look at the
insurance market today and how it is affecting construction
companies. We ask her for some tips on how contractors can become
more appealing to insurance agents. She also shares her expert
opinion on what makes good partners and improving trust between
agents and contractors.
There’s a lot to
discover and learn from this episode. Check it out
today!
Discussion Points:
0:00 Introduction
2:20
Hardening market in
insurance
3:20 What is social
inflation?
4:25 How is the construction industry
affected?
7:21 Advice on addressing the challenges of
insurance premiums
8:46 Defining total cost of
risk
9:25 Contractor programs to address the total cost
of risk
11:17 Who and when to delegate risk
management
13:42 Responsibility of contractor to build
relationships with insurance
companies
15:18 Difference between a good and bad
partner
17:24 Most effective way to build
trust
20:54 Look for an insurance broker that understands
your language
22:50 How construction companies can become more
attractive to insurance carriers?
24:27
How long will it take for
contractors to improve?
29:50
Three action items to facing
insurance challenges
About the Guest:
Mary Grandy is Senior Vice President at Epic Insurance Brokers and Consultants. With over two decades of experience in the insurance industry, she brings a unique approach in representing the construction industry with her expertise in litigated construction claims. She focuses on the design and implementation of insurance and risk solutions for all aspects of her commercial, property and casualty and workers’ compensation insurance clients.
Resources:
- Do Your Project Executives Need to Become Better Leaders? Book a 10-minute call with Eric Anderton (https://10minutes.youcanbook.me/)
- Connect with Mary Grandy
-
- Contact: mary.grandy@epicbrokers.com
- Phone 530-559-3435
- LinkedIn: https://www.linkedin.com/in/marygrandy/
Recommended Restaurant
- Hawks Restaurant: https://hawksrestaurant.com/
Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.
Thank you for tuning in!