Service
Property & casualty review for mid-market operators.
A written program review of your property, general liability, and excess tower. We work the schedule, the policy forms, and the contracts that drive your insurance requirements, then deliver a remediation list a CFO can sign off on.
Overview
Most mid-market P&C programs drift quietly.
A program written five years ago for a different revenue base, a different building, and a different customer roster will not match what the company looks like today. Replacement values lag construction costs. Additional insured wording gets re-cycled from prior years without anyone reading it against the current contract. Umbrella forms quietly narrow at renewal and nobody notices because the limit on the dec page didn’t change.
We read the program against the operating reality. The work is unflashy and specific. The value is in catching the things that look fine on a certificate and fail at the loss.
What we review
The program, line by line.
- Property valuation
- Replacement cost vs ACV by location, coinsurance penalties on under-insured property, agreed value endorsements, and ordinance or law sublimits where the building is older than the current code.
- Business interruption
- Actual loss sustained vs scheduled limits, period of restoration, extended period of indemnity, dependent property coverage for key suppliers and customers, and contingent BI for single-source dependencies.
- General liability
- Occurrence vs claims-made trigger, additional insured wording (CG 20 10 vs CG 20 37, ongoing vs completed operations), primary and non-contributory language, waiver of subrogation, and contractual liability assumptions.
- Excess and umbrella
- Attachment point, follow-form vs broader-than, drop-down coverage where the primary aggregates erode, and consistency across the tower so a layered claim doesn’t fall into a gap.
- Contract review
- Insurance requirements in customer master service agreements, landlord leases, and lender covenants, with certificate compliance flagged before counterparty risk teams call them out.
- Crime, inland marine, equipment
- Where applicable, we round out the package: employee dishonesty, computer fraud, contractor’s equipment, electronic data processing, and any monoline coverage that should not be living in a homeowner-style endorsement.
Common gaps we find
The same five issues, over and over.
- Outdated replacement cost values. Values last reviewed before the recent construction-cost run; coinsurance penalties baked in at renewal.
- Missing dependent business interruption. A single supplier or single customer drives more than 25% of revenue and there is no contingent BI sublimit.
- Limited contractual liability. The GL form excludes broad-form contractual when customer contracts assume liability for the indemnitee’s sole negligence.
- Umbrella that doesn’t follow form. The umbrella reintroduces exclusions the primary bought back, including pollution, professional services, or employer’s liability gaps.
- Mismatched additional insured wording. The contract demands primary and non-contributory ongoing and completed operations on a CG 20 10 04 13 basis; the policy carries an older CG 20 10 form without completed ops.
- Certificate-only compliance. The certificate says the right things; the underlying policy doesn’t actually back them.
When this matters
Triggers we hear most often.
- Renewal premium jumped and you want a second opinion before remarketing.
- An acquisition, build-out, or new product line changed the operating profile.
- A customer’s risk team is pushing back on certificates or insurance schedule wording.
- A lender or landlord is requiring evidence the program meets specific contract terms.
- You had a near-miss claim and want to know whether the next one would be covered.
Placement
How placement works through Rush Insurance.
Vetted Risk is not licensed to sell, solicit, or negotiate insurance. The consulting work, the program review, the specs, the negotiation strategy, sits with us. When you decide to bind or remarket, the file moves to our licensed placement partner, Rush Insurance. Rush handles carrier submissions, quotes, binding, and policy issuance.
Compensation related to placement flows to Rush Insurance. Vetted Risk receives no commission, no override, and no contingent compensation. That separation is the point. The recommendation on what to do with your program is independent of who writes the binder.
FAQ
Common questions about property & casualty.
- What does a property and casualty review actually cover?
- We work through the property statement of values, the general liability declarations, the umbrella schedule, and the contracts that drive insurance requirements. The output is a written program review that identifies gaps, mismatches, and renewal priorities, with specific wording references rather than generic checklist findings.
- How is replacement cost different from actual cash value, and why does it matter?
- Replacement cost pays to rebuild without depreciation. Actual cash value subtracts depreciation, which can be material on roofs, equipment, and tenant improvements over a decade old. If your schedule mixes valuation methods or the values were last trued up before recent construction inflation, the recovery at a total loss can be far below what the building actually costs to replace.
- What's the difference between occurrence and claims-made GL, and which do I have?
- Occurrence policies respond to bodily injury or property damage that happens during the policy period, regardless of when the claim is reported. Claims-made policies respond only when the claim is reported during the policy period and after the retroactive date. Most general liability is occurrence. Some manuscripted programs and certain industries are claims-made, which creates a tail problem at non-renewal that occurrence does not.
- Why does umbrella follow-form language matter?
- A true follow-form umbrella adopts the underlying coverage grants and exclusions. A broader-than umbrella can fill specific gaps. A narrower umbrella, which exists in the market, can drop coverage that the primary granted. We read the umbrella against each underlying line and flag where the tower contracts.
- Do you review my customer and landlord contracts?
- Yes, when the engagement calls for it. Insurance requirement clauses, indemnity language, additional insured wording, and waiver of subrogation provisions in customer contracts and leases drive whether your program actually backs the contractual position. Misalignment shows up at the certificate stage and gets flagged by counterparty risk teams.
Related services
Adjacent reviews.
-
Workers' Compensation
Class-code accuracy, experience-mod review, and program design where the premium volume supports it.
Review workers' comp → -
Commercial Auto & Fleet
Symbol coverage, hired and non-owned exposure, and umbrella attachment for fleets of any size.
Review fleet → -
Cyber Liability
Sublimits, war exclusion, ransomware coinsurance, and incident-response panel pressure-tested before renewal.
Review cyber →
Next step
Bring your declarations page. We’ll do the rest.
One business day response. Independent review. Placement coordinated through Rush Insurance.