Our Client’s Dilemma
Three months prior to renewal of their outstanding letter of credit (LOC), BUCA decided it was time to re-examine their risk management situation. Therefore, they hired RJF as their risk management advisor. Over a three-week period, RJF met several times with BUCA’s key team members to garner a complete understanding of their operations and risk management needs. Additionally, our loss control team visited and evaluated two stores.

Together we established three primary goals:

1. Reduce BUCA’s outstanding letter of credit (LOC) requirements for their casualty program.
2. Secure the best possible property coverage and pricing. (Their exposures included significant catastrophe-prone areas.)
3. Analyze and evaluate how BUCA managed risk and incorporate key RJF employees to act as their risk management arm.

• Negotiated a 30% reduction in outstanding LOCs, resulting in significant out-of-pocket insurance-related savings.
• Developed and delivered a comprehensive property program with full catastrophic coverage, which resulted in significantly lower premiums than BUCA’s most optimistic expectations.
• Fully integrated key RJF people into BUCA’s overall risk management operations. After only three months, BUCA stated they felt as though they were enjoying the benefit of two or three in-house risk management employees.