Situation

Slewrig Constructions Pty Ltd offers specialised construction services, including structural steel and concrete panel erection, crane hire, and complex lifting operations. Serving diverse sectors, the company prioritises safety and efficiency. As a growing firm in a challenging industry, they needed an insurance partner to address rising claims costs and strained broker relationships.

Problem

Slewrig encountered mounting claims issues that increased premiums, threatened profitability, and caused them to face a proposed 52% premium increase. This left management feeling overwhelmed and uncertain about their insurance program.

Solution

Knightcorp tailored a solution that directly addressed Slewrig’s pain points and ultimately exceeded their expectations:

• Claims Advocacy: A dedicated claims contact streamlined workers’ compensation management, reducing stress on Slewrig’s leadership.
• Risk Mitigation: By collaborating with insurers, Knightcorp strengthened Slewrig’s risk mitigation practices and enhanced its safety systems, raising underwriters' confidence in Slewrig’s business. 

"Knightcorp have been instrumental in helping us through the complexities of our insurance programme. When making a claim, be it for our machinery or workers compensation Knightcorp have helped to make it easy. "

- Paul Mills, Director of Crane Hire, Slewrig Constructions

Results

The outcomes were financial as well as reputational:

• Cost Stability: Knightcorp was able to keep the proposed rate increase from around 50% to a minimal 4% increase, maintaining premiums in line with prior years across multiple product lines in a high-risk industry. 
• Risk Reduction: Enhanced safety measures, improved protocols, and a dependable insurance partner enable Slewrig to concentrate on driving business operations forward.
• Improved Confidence: Stronger insurer relationships ensured Slewrig received the best terms available.
• Strengthened Partnerships: Regular engagement fostered trust and collaboration, opening networking opportunities for Slewrig’s leadership.

Slewrig Constructions is thriving, with stable costs, improved safety protocols, and reliable claims support from their Knightcorp partners. 

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DISCLAIMER: This information is provided to assist you in understanding the risks, implications, and common considerations for your industry.  It does not constitute advice and is not complete. Please contact Knightcorp Insurance Brokers for further information.