101 Ways To Cut Business Insurance Costs

By: William S. McIntyre, CPCU, ARMJack P. Gibson, CPCU, CRIS, ARM
101 Ways To Cut Business Insurance Costs

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101 Ways To Cut Business Insurance Costs

Product type: 1 Year Subscription

Publication Date(s): 1995, 1996, 2002, 2008

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A gold mine of 101 tried-and-true strategies organized by the major commercial lines of coverage: Automobile Insurance, Commercial General Liability Insurance, Umbrella Liability Insurance, Workers Compensation, Workers Compensation Experience Rating, Property Insurance, Insurance Industry Relationships, Claims, Loss Control, Risk Financing, and other general recommendations.

Do you think your organization pays too much for insurance? If you are like most business managers, your answer to that question is a resounding "Yes!" You may also feel that you are totally at the mercy of your insurance company because you just do not understand insurance jargon, complicated policies, and how premiums are determined. To many business people, insurance is a mysterious but necessary evil.

This does not have to be the case. You probably manage your taxes on a proactive basis to control your tax burden as best you can. If you take the same approach with your insurance program, you can also control your insurance premiums!

However, there is one major stumbling block—not usually faced by tax managers—to taking control of property and liability insurance costs. While the Internal Revenue Code is a published document in the public domain, the insurance industry's "rating manuals," which govern how your premiums are calculated, are not so easily obtainable. And, like the tax laws, you would probably need an interpreter to explain how to apply them to your business if you were to obtain them.

101 Ways To Cut Business Insurance Costs does this for you. As your personal insurance interpreter, it summarizes and explains how your premiums are calculated. More important, it tells you about the "tricks of the trade" used to calculate your organization's premiums. Knowledge of these approaches and of the important risk management techniques reviewed in this book can save your organization thousands of premium dollars. It is based on our experience over the years as consultants for numerous commercial and public entities, as insurance agents and underwriters on behalf of commercial insureds, and as researchers into insurance industry practices and procedures. We have attempted to explain in plain English how you can reduce or control your business insurance costs without exposing your organization to uninsured losses that it cannot handle. If your business, public, or nonprofit organization can benefit from just a few of these ideas, our efforts will have been worthwhile.

101 Ways To Cut Business Insurance Costs covers these topics.

  • Managing Insurance Costs
  • Automobile Insurance
  • Commercial General Liability Insurance
  • Umbrella Liability Insurance
  • Workers Compensation
  • Workers Compensation Experience Rating
  • Property Insurance
  • Insurance Industry Relationships
  • Claims
  • Risk Control
  • Risk Financing
  • Saving with Competitive Proposals
  • General Recommendations

Download Table of Contents

Agents, Brokers and Account Support Staff

  • Identifies and helps you avoid common premium determination errors that can cause you to lose clients.
  • Helps you identify rating and premium determination mistakes in competitor’s programs.
  • A great primer for new account service staff to help them avoid common errors.

Risk Managers, Financial Executives & Insurance Buyers

  • Outlines proven strategies to help you reduce costs without giving up necessary protection.
  • Provides a basic overview of the major commercial insurance lines and how their premiums are determined.
  • Helps you identify and correct rating and premium determination mistakes in your insurance program.


  • Identifies common premium determination errors.
  • Provides practical cost control strategies to help your clients.
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    Your purchase of the online version of 101 Ways To Cut Business Insurance Costs comes with a digital copy of the Contractor's Guide to CIPs—a handy reference that provides guidance on 38 issues contractors should consider when accepting coverage through a wrap-up or controlled insurance program.