A Real Estate Development Company located in Reston, Virginia engaged The Hudson Group to undertake a risk management audit of their existing insurance program. By utilizing industry approved cost indicators, HGI discovered that rating classifications for the client’s operations were placed in the highest premium categories. Once adjusted, the client experienced an immediate $40,000 savings on a $120,000 annual premium. Further analysis revealed over 72 additional errors including inaccurate and missing named insureds and replacement cost values tied into market values instead of actual hard cost replacement costs.

Errors were corrected resulting in an overall premium reduction of 46% and a subsequent creation of a more concise and accurate insurance portfolio.