Case snapshot
The services grew. The insurance didn't.
A managed services provider in metro Atlanta with about 30 employees, grown from break-fix support into managed and security services.
About 30 employees
Metro Atlanta
Managed and security services
What changed in the business
This company started out doing break-fix IT support for local small businesses. Over a few years it added managed services, remote monitoring, helpdesk, backup and recovery, and Microsoft 365 administration, then security services on top: endpoint detection, vulnerability management, and security awareness training. Bigger customers followed, with formal SLAs and higher insurance requirements.
What the insurance still described
The insurance still described the old company. GL was payroll rated on a class for field techs doing on-site repair, which covered a shrinking part of what they sold. E&O and cyber sat with two separate surplus lines carriers, and a $1 million umbrella sat over all of it.
What we did
We moved GL, E&O, cyber, and the umbrella to one admitted carrier with a dedicated technology program. GL is now composite rated on revenue, so it follows the whole operation. The umbrella went to $5 million, sized for today's revenue and the contracts they were lining up. We also got a dedicated claims advocate assigned to a couple of lingering comp claims.
Before and after
A program that follows the operation
Annual premium, all lines including comp
Before
- GL payroll rated for on-site repair
- E&O and cyber with two separate surplus lines carriers
- $1 million umbrella
- Lingering comp claims
After
- GL composite rated on revenue
- GL, E&O, cyber, and umbrella with one admitted carrier
- $5 million umbrella
- Dedicated claims advocate on comp claims
About two percent more a year. Five times the umbrella, and a program that describes the company they actually run.
Premiums shown are for this client's program. Every account is priced on its own exposures.
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