World Trade Consult continually surveys the many insurance markets for the benefit of our clients. We seek the broadest coverages at the most competitive prices, protecting our clients from asset loss and business income loss that often occur during the entire Supply Chain.
Recently, we performed a Trade Credit Insurance market survey for a Midwestern company we have represented for a number of years. The quotations and terms received from the major insurance carriers of Trade Credit Insurance actually resulted in a 27% REDUCTION in premiums and fees from the previous year for our client, for an annual savings valued at approximately $42,000. World Trade Consult actively negotiated broader, more comprehensive insurance coverages at a significantly lower cost. It pays to use World Trade Consult as your company's broker for Supply Chain Trade Risk Insurance protection.
World Trade Consult also works diligently to assist clients with Claims/Loss Settlements. Recently, we were able to expedite payment of several claims that were initially denied by the insurance carrier for lack of sufficient supporting documentation. After reviewing our client's claims and loss documentation, we were able to help them achieve a loss settlement of approximately $103,500.
World Trade Consult is a commission-based broker and adviser to our corporate clients. Generally, as Broker of Record for our clients, World Trade Consult receives compensation for services performed via commissions paid by insurance companies when insurance protection is bound for the benefit of our clients. Therefore, there is no out-of-pocket cost to our clients to use our services, expertise and industry contacts. There is no direct cost to you to use our Broker Services. Your insurance premium will not be lower without using our Broker Services, nor will your insurance premium be higher by using our Broker Services. Your insurance premium will be the same whether or not you use World Trade Consult as your Broker. Therefore, it pays to use World Trade Consult as your company's Broker for Supply Chain Trade Risk Insurance protection.