Our Client’s Dilemma
Three months prior to renewal of their outstanding letter of credit (LOC), the restaurant owners 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  key team members to garner a complete understanding of the client's operations and risk management needs. Additionally, our loss control team visited and evaluated two stores.

Together we established three primary goals:

1. Reduce the client'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 the client 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 the client’s most optimistic expectations.
• Fully integrated key RJF people into the client’s overall risk management operations. After only three months, the client stated they felt as though they were enjoying the benefit of two or three in-house risk management employees.