We help underwrite success stories.

Every risk management plan BKS develops is unique to the needs of the client it’s designed to serve. Therefore, the best way to demonstrate our proprietary process is by sharing the success stories we’ve helped to create.

The case of the commercial and residential community developer

The holding company included separate divisions for homebuilding, hospitality, media and financial institution assets. The company enjoyed longstanding relationships with two separate insurance brokerage firms (one local and one national) that provided Employee Benefits and Property & Casualty service.

BKS was invited to engage the Holding Company in our comprehensive BKS Holistic Protection RiskMapping™. Our teams reviewed all operating exposures, evaluated the efficacy of the existing insurance coverage architecture and analyzed the current risk and health management practices

BKS Risk Mapping Evaluation

Risk Mapping Findings

Private Risk Management Employee Benefits Corporate Property & Casualty
Inadequate personal liability limits Need for updated documentation Deductible language allowed for large gap in coverage
Insurance program included multiple effective dates and insurers Communication challenges Property rate higher than benchmark
Overlapping and gaps in coverage Manual Processes Uninsured/underinsured assets
Uninsured assets & asset protection vehicles Legacy benefits design that encouraged overutilization Unidentified operating exposure not contemplated by existing insurance
Deductible Dysfunction Benefits strategy was not in sync with long-term organizational strategy No formal safety and claim handing protocols


Private Risk Management Employee Benefits Corporate Property & Casualty
Consolidated insurance program to streamline the billing and annual renewal process

Thorough contract review and recommended updates

Replaced existing insurance carriers

Broadened coverage by moving program to an insurer who specializes in high net worth families and increased liability limits

Open Enrollment process and information changes to ensure compliance and reduce administrative burden

Redesigned the windstorm deductible provision

Conducted replacement cost assessment on properties to determine accurate replacement cost in conjunction with insurers Flexible benefit design to encourage thoughtful plan selection and thus utilization

Embraced insurance contract terms and conditions

Eliminated overlapping and gaps in coverage and the deductible dysfunction

Long-term benefits strategy consistent with long-term business strategy

Broadened insurance coverage to include previously uninsured/underinsured exposures

Introduced Personal Group Umbrella Policy which broadened coverage and reduced costs for owner and key employees 

Reduction in benefits expense

Reduced overall premium by $550,000

Conducted background checks for domestic staff in conjunction with insurer  Customized benefit training for  HR generalists

Rolled out a behavior based workplace safety program

Counseled owners on loss prevention tips

Below national average medical cost trend

Created specific claim handling processes and protocols


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