D’Orsogna Ltd (D’Orsogna) appointed Specialist Advice Services in July 2010 to review and enhance the existing key person Insurance arrangements. D’Orsogna consider key person insurance an important part of our risk management program which will, in the event of a claim afford us the financial flexibility to deal with any issues quickly and with the necessary financial capacity.
Of importance to us was the fact that the existing policy had not been regularly reviewed and D’Orsogna was seeking guidance and advice to either replace or improve the current policy to a higher level of cover. The review conducted by Daniel Poultney and his team also confirmed that the existing key person policy had a loading in place, making the premium cost significantly higher than normal rates. Daniel was able to negotiate with the insurer for both the required level of insurance cover and of significance, provided an alternative that was able to be underwritten at standard premium rates, effectively reducing D’Orsogna’s cost.
With Daniel and his team providing an annual review commitment D’Orsogna is confident that the Key person insurance in place will continue to play a role in mitigating our executive risk and we would be happy to recommend the Specialist Advice Services Services provided by Specialist Advice Services through Daniel and his team.