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Related Solutions

Willis Towers Watson’s National Property Practice (NPP) specializes in the design, marketing and implementation of the most cost-effective insurance programs with the broadest scope of coverage for our clients. Whether addressing North American or Global exposures, our brokers are skilled at negotiating tailored coverages with insurers from the worldwide marketplace. Our property expertise allows Willis Towers Watson to provide risk managers with balance sheet protection and customized risk transfer solutions for today’s ever evolving risk environment.

Analytical approach to risk identification

Your Property Broker will work with you to Identify, Quantify and then Customize a broad range of solutions to fit your organization’s needs. The Willis Towers Watson National Property Practice delivers a high calibre suite of CORE analytics for all of our clients. We take an analytical approach to risk, defining you key risk drivers through “CAT” modeling tools, SpatialKey portfolio analysis, along with supplemental explanations of the key risk drivers to your portfolio. Our latest tool, the Global Peril Diagnostic Report, provides clients with a one page snapshot and holistic view of their CAT exposures worldwide. This risk analysis is very useful in identifying the challenging CAT exposures where modelling is unavailable internationally.

A key differentiator for Willis Towers Watson clients is that these CORE analytics are integral to our process, which begins with a diagnostic review of exposures, followed by employment of our analytic tools and models to create the optimal program design for your needs.

Global Peril Diagnostic

Willis Towers Watson's Global Peril Diagnostic is the first in the industry to take a global view of an organization's property portfolio. This tool clarifies your comprehensive exposure to twelve natural perils which put your global assets as risk. Before focusing on siloed, by-peril by-region placement tools, we empower our clients with this strategic foundation for smart next level analytics.

Key benefits

  • Concise global evaluation of Natural Catastrophe risk, the foundation for a smart analytic approach to natural catastrophe risk

  • Interactive map showing the location and peril scores for each of your properties worldwide, and gives insight into accumulation risk

  • Diagnoses your Address Data Quality, because improving this is the single biggest opportunity to change how the market perceives your natural peril exposure

  • Risk adjusted benchmarking compares your property portfolio to the universe of Willis Towers Watson clients

  • Site scores indicate where to focus assessments and future engineering investment

  • Below represents an example of the Global Exposure Analysis tool

Program Design

Once provided with our full suite of analytical tools and comprehensive review of exposures, we will strategize and prioritize based on your corporate goals to tailor the insurance program to fit your specific profile and needs. The program solutions created by our NPP team can include:

  • All Risks for Property Damage and Business Interruption
  • Boiler & Machinery (Equipment Breakdown)
  • Capital Market Solutions
  • Captive Reinsurance
  • Contractors Equipment
  • Deductible Buy-Down
  • Difference in Conditions (DIC) Market Options
  • Facultative Reinsurance Solutions via Faber Global
  • Global Programs
  • Parametric Trigger Products
  • Shared/Layered Programs
  • Stand-Alone Terrorism

Marketplace Evaluation

Our NPP brokers maintain relationships with insurers in North America, London, Bermuda and Europe, as well as with emerging insurers/reinsurers in Asia. Accessing the world market ensures that all potential markets are utilized in developing competitively priced insurance programs. Our close monitoring of the market ensures we are always keenly aware of current market pricing trends as respects both the direct insurance and reinsurance markets.

The NPP property team has a unique approach to placement. Our barrier free access to resources enables innovative collaboration across the entire global network ensuring our clients have access to the best resources regardless of geography. The daily interaction between our Willis Towers Watson London, Bermuda, Facultative and Treaty Reinsurance teams provides a collegial view of the marketplace enabling us to identify emerging risks and develop solutions.

Core Property Services

NPP services include:

  • Full suite of CORE Analytics

  • Benchmarking

  • Identification and quantification of risks

  • Risk retention analyses

  • Prioritization of risk financing goals

  • Program design, including draft of manuscript policy wording specific to client’s needs

  • Development of underwriting submissions that feature client’s operations and profile in the most effective manner

  • Identifying and negotiating with insurers best suited to meet client’s risk financing and risk control needs

  • Disseminating market intelligence and monitoring emerging trends

  • Disseminating publications about important or emerging issues

  • Preparing policy form comparisons

  • Pre-renewal strategy meeting(s)

Willis Towers Watson Property Panel

The new Property Panel introduces Willis Towers Watson’s innovative and analytical approach to a continuously evolving marketplace, leveraging our technical expertise and robust industry relationships for unparalleled results. The Property Panel works across functions to centralize technology, compliance, broking and operations, enabling us to get our clients exactly what they need, faster and more effectively.

This panel delivers uniquely enhanced terms and conditions through pre-negotiated coverage requirements and forms exclusively available through Willis Towers Watson, while simultaneously eliminating errors and inefficiencies. Some of these exclusive enhancements include:

  • $25M Flood and Earthquake

  • $10M Newly Acquired Locations

  • $10M Extra Expense

  • Limited Cyber Coverage

  • EDP media and data Equipment Included
  • No Margin Clause or Coinsurance penalties

  • No Vacancy Restrictions or Limitations

  • $10M Service Interruption

  • $1M Mold

We have chosen to work with only the most reputable carriers in respect to all single placement property risks in a broad range of industries. Our highly selective panel is comprised of the following six fully admitted carriers:

  • AIG

  • Zurich

  • Swiss Re

  • Traveler’s

  • Liberty Mutual

  • Hartford

The Willis Towers Watson Property Panel accesses these elite insurance carriers in an unusually competitive environment, making them eager for our business and truly putting our clients in the driver’s seat.

Claims Support

Often our clients need us most when a claim occurs and their Willis Towers Watson NPP broker is ready to quickly and actively engage in the process to help minimize unnecessary delays.

Among some Property insurers, underwriting and claim personnel do not communicate frequently or fully enough after a claim occurs. In contrast, Willis Towers Watson brokers work in tandem with our Willis Towers Watson claim consultants to ensure underwriting is brought back into the discussion when there is a claim dispute. And when a complicated claim involving Business Interruption occurs, our clients can be reassured knowing that Willis Towers Watson’s expertise includes a Forensic Accounting Practice to assist with the measurement of the loss. We will assist you through every claim no matter the complexity including a variety of services:

Dispute Resolution

  • Identify potential coverage and quantum issues and areas of agreement and disagreement with the insurers.

  • Design and implement dispute resolution process to assist insured in maximizing recovery

  • Engage our Resolutions Practice and senior leadership as needed.

Negotiation and Settlement

  • Provide guidance in all discussions and negotiations with the insurers.

  • Represent the insured’s best interest in all meetings and discussions.

Maximize Return on Premium Investment and Maximize Cash Flow

  • Look for every realistic opportunity to obtain partial and advance payments.

  • Assist our clients in driving the process forward to bring the adjustment process to conclusion in a realistic time frame.

NPP: Designing Solutions

The NPP practice takes a holistic approach to designing your optimal program structure. From the diagnostic review of key risk drivers to your renewal strategy and execution of that strategy, your broker will help you to arrive at the best insurance solutions to protect your assets and earning stream.

Willis Towers Watson’s approach to data and analytics provides our clients with the knowledge to support strategic business decisions.

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