Enterprise Risk Management
A seasoned petrochemical manufacturer faced escalating insurance costs and significant coverage gaps, particularly after a substantial loss stemming from a client's bankruptcy. To mitigate these challenges, they transitioned from relying solely on traditional insurance to integrating a captive insurance solution. This move allowed them to customize their risk coverage, optimizing costs, and addressing previously uninsured vulnerabilities. As a result, the company secured comprehensive protection across various domains, leading to enhanced security and notable cost savings.