GET LARGE LOSS DATA, TCOR VALUES, PREMIUMS, LIMITS AND RETENTIONS ACROSS LOBs
The 2016 Survey, which is an annual summary of the data received during the 2015 calendar year, offers professionals a broad view of the industry. As a single source of benchmark statistics with industry data for more than 52,000 insurance programs from over 1,400 organizations, the survey is your window into the commercial insurance market!
"We overlay our client's data on the RIMS Benchmark Survey results to show how their costs and limits stack up. We originally started getting the book for one account, and now we use it for all of our larger accounts." CEO of a regional broker.
New this year is a special chapter examining cyber insurance coverage.
Key features of this chapter include:
- Major coverage provisions
- Limits purchased
- Retentions assumed
- Premiums paid
- Major carrier market shares
This information will inform risk managers and their brokers in the design and construction of a cyber insurance program.
Industry Reports for 14 macro sectors:
- Consumer Discretionary
- Consumer Staples
- Government and Non-profit
- Information Technology
- Nonbank Financial
- Professional Services
Chapters for seven coverage lines detailing which carriers wrote the most premium by line
- Umbrella and Excess Liability
- Workers Comp
To order older editions of the Benchmark Survey, please contact Jim Delaney at +1 (212) 984 - 2749.
Contributor*: If you contributed your organization's insurance policy data a complimentary copy of the book will be mailed to you upon release. To order additional copies contact email@example.com or call +1.212.984.2749
* A contributor is a risk professional who contributed two or more years insurance policy data (including effective and expiration dates, premiums, limits, retentions and insurer names), for two or more coverage types (e.g. management liability, liability, or property). To qualify for contributor pricing when you purchase the product, your data must already have been submitted and approved as complete; data contribution must coincide with the calendar year of the book. Contribute your organization's data at www.RIMS.org/contribute.
WHY BUY THE BOOK?
|"Besides the access to independent, third-party data from a credible source? To me as a mid-sized regional agency, [The RIMS Benchmark Survey book] provides me the same national database that the national brokerages can access. Though I sometimes wonder how often they really use this type of data for clients. To me, this is just basic. It legitimizes our coverages recommendations. We espouse it at Howalt+McDowell. 'What limit of liability should I carry?' We use the book to show what others are carrying for D&O or umbrella, for example. The book is another source. It's pretty good relative to what's available. While no Benchmark survey is perfect, this data is extremely useful and handy. I am not aware of other studies like it besides what the national brokers publish on their own for certain industries".|
|Jeff Scherschligt, CEO of Howalt+McDowell|
|"The RIMS Benchmark Survey gives invaluable benchmarking information for limits and retentions. Management is always asking, 'what's everyone else doing?' This book gives us the ability to look at our industry, to look at our peer group by revenue or employees, to see what other companies are carrying or how they are structuring their programs. It also gives top management a comfort factor to know that we're not too far off the mark. We like the administrative costs section to help arrive at Total Cost of Risk, and the brokerage section is an important addition because that is a discussion that comes up every single year, and now you have something objective that you can look at…" |
|Len Resto, Director of Risk Management for Global Crossing's |