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Productivity Savings Cited in Combining Commercial Insurance Lines

Date: 01/09/2006 | Category: Business | Author: Diana Heeb Bivona

The 2nd Annual Wausau Multiline Productivity Poll found that 81% of commercial insurance buyers believe that they save at least $1 in lost productivity expenses for every $1 saved by reducing workers compensation claim expenses. The independent survey of 200 financial executives also noted that:

• Approximately 70% of respondents have combined at least two lines of commercial insurance with one carrier.
• Among those who have combined at least two lines of coverage with one carrier, nearly 90% achieved significant efficiencies (saving at least 4% per year).
• General liability & property (two coverages commonly combined in Package policies) and workers compensation & general liability were cited as the two coverage pairs most likely to achieve significant efficiencies when combined with one insurance carrier.

Source: PRNewswire

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