Too Many Agents, Not Enough Coverage

Industry: Hospitality and Ranching Exposure: $10 million Coverage Benefit: Over $6 million in Additional Coverage Savings:

Insurance Problem

A few years ago, a local rancher decided to develop his land into a hunting lodge, restaurant and ranch.  He also owned several vacant tracts of land across several counties and a number of rental houses.  The insured had multiple agents, multiple insuring companies and no real idea what was covered at what limit.  The insured was referred to Swingle Collins & Associate in hopes that someone would help him recognize what coverage he had, what the risks were and what choices he had in managing potential loss.

When meeting with his Swingle Collins agent, he was shown all his assets and liabilities in an analysis.  The insured property schedule was valued at $8,000,000 of which only $2,000,000 was covered by insurance.  The restaurant was not insured, the hunting operation was not insured, the lodge and 550 acres were not insured, and of the five insurable entities, only one was insured.  There was only insurance on some of the land and some of his rental properties.  Unfortunately, not one of his agents had taken the initiative to see the insured’s risk as a whole, so they all left some exposures uninsured.

Risk Management Solution

Swingle Collins was able to insure each asset and liability accurately and at the direction of an informed owner.  The insured was now able to make intelligent decisions about financing his risk.  Each individual property was put onto a blanket schedule and each liability was assessed for its risk and covered by insurance that best fit the risk and the insured’s risk tolerance.


Finally, the rancher and his family could focus on the running of their vast enterprise without the additional worries of loss or risk.  He was provided clear descriptions of all his assets and how they were insured so that he could see and understand his insurance.  Swingle Collins insured his entire operation with one agent and one insurance company at a premium that met the demands of a competitive business.