New Day was asked by the retail broker to review the current combined professional liability/pollution liability policy for a large mechanical contracting client, suggest coverage enhancements and market the account at renewal to ensure that the client received the broadest coverage at the best price. The retail broker advised which carrier’s were previously approached for this account and most of them were not appropriate for this type of risk. New Day explained the marketing strategy for renewal and why each carrier was being approached and the retail broker understood and accepted the strategy. New Day obtained a competitive alternative quote and leveraged that alternative to negotiate significant coverage enhancements with the incumbent carrier at a decreased rate. Those coverage enhancements included:

• Rectification Coverage
• Mitigation of Loss Coverage
• Environmental Impairment Liability for the Insured’s Owned Locations
• Punitive Damages Coverage

New Day’s proposal outlined the coverage enhancements in detail enabling the retail broker to explain them to the insured and resulting in the incumbent carrier retaining the business despite a 20% premium differential.