Whether the insurance market is hardening, softening or sitting still, the renewals that go well share one habit: someone started early. I work with manufacturers, and their programs involve property schedules, product liability, equipment and multiple locations. A rushed renewal in that setting almost always costs money. Here is the 90-day plan we use.

Days 90 to 60: take stock

Start by asking what changed in the business since the last renewal. New locations, acquisitions, product lines, larger customers, revenue growth or a change in how you use contractors all matter to an underwriter. Write them down. We then compare that list against the current policies to see what is not yet reflected.

  • Update the schedule of locations, values and occupancy. Building values in particular tend to fall behind construction costs.
  • Gather loss runs for the past five years, and review them for errors. Closed claims sometimes appear as open.
  • Review contracts for insurance requirements you have signed since last year.
  • Ask department heads what has changed operationally. Finance rarely knows everything the plant floor does.

Days 60 to 30: build the story

Underwriters see hundreds of submissions. The ones that stand out present the risk clearly and show that management understands it. We write a short narrative for each account covering operations, safety practices, recent investments in controls and an honest explanation of any adverse losses. Where possible, we add photographs, inspection reports or letters from loss control visits.

This is also the time to decide what you want from the renewal. Are you seeking the lowest price, broader cover, a higher limit or a different retention? Your priorities decide which markets we approach and how we present the account.

A submission that answers the underwriter's questions before they are asked often gets a faster and better response than one that leaves gaps to fill later.

Days 30 to 15: go to market

We approach incumbent and alternative carriers together, allowing enough time for questions and, where needed, for underwriters to visit. Competition tends to improve the incumbent’s offer, and it also tests whether the current program remains suitable. Some clients prefer to stay with their carrier every year. That is a legitimate decision as long as it is reached after seeing the alternatives.

  • Send the full submission to each market at the same time.
  • Keep a log of questions and answers so the story stays consistent.
  • Ask for indications early, before formal quotes, to see whether a market is interested.

Days 15 to 0: decide and bind

Once quotes are in, compare them on terms and not only on price. Retentions, exclusions, sublimits, endorsements and the carrier’s claims record all belong in the comparison. We build a side-by-side table for each client and walk through it in a meeting, since the gaps between quotes are rarely obvious at a glance.

Confirm coverage in writing and check the binder against the quote before it is issued. Errors at this stage are common and much easier to fix before the policy period starts.

What changes in a hard market

When capacity tightens, carriers ask more questions, offer smaller limits and raise retentions. The 90-day plan matters more, not less. You may need to consider higher retentions, layered programs with multiple carriers or improvements in controls to secure terms. Clients who start early have time to make those trade-offs deliberately.

What changes in a soft market

When capacity is plentiful, price tends to fall and some carriers loosen terms. It is a good time to use the leverage to strengthen cover rather than simply chase price, for example by removing an exclusion or increasing a sublimit while the market is receptive. Cheap cover with narrow terms is not a bargain.

The one-page checklist

  • Updated values and schedules.
  • Five years of loss runs, reviewed.
  • A written summary of operational changes.
  • A narrative for underwriters, with supporting documents.
  • A clear statement of your priorities.

If your renewal date is 90 days away, we can start a plan today. Send us the policy list and your expiry dates and we will map the calendar back from the day you need to bind.