Company Name: ABC
Company Name: XYZ
Business Nature: Construction Company
Number of employees: 65
Actual value of the property: Approximately $600,000
Period of insurance required: From 1st August 2019 to 1st August 2020
Date: 25 June 2019
We are in the process of selecting an insurer to provide insurance and risk management services to our construction company. XYZ is looking for the best and cost-effective insurance program. ABC insurance company should be able to successfully provide their services for the upcoming policy terms from 1st August 2019 to 1st August 2020. We are currently in need of insurance policies for the following:
XYZ is one of the leading construction companies in the USA region. For almost 30 years, we have shaped the skylines of major cities of America, including XYZ Bridge, XYZ twin towers and XYZ theme park. We specialize in complex infrastructure projects. Our aim is to deliver fascinating projects with the highest quality while maintaining health and safety standards at its best. We strive for excellence and continuously utilize advanced technologies.
We want to ease our company’s administrative burden in managing our insurance program. We want advice on the sustainability of insurance markets and suggestions to reduce overall insurance cost, without reducing insurance coverage. We want ABC to evaluate, analyze and negotiate all renewals for this year and if our company is happy and satisfied with the services, we will consider renewing the contract. ABC should provide a follow-through for receipts of all policy documents and endorsements in a timely manner.
Also, ABC should manage certificates of insurance in a timely manner and should provide other insurances as requested by our company in the future.
In accordance with local labor law, ABC should be able to pay certain replacement benefits in case any of the employees suffer any kind of work-related illness or accident. The details of our employees are provided below:
|Description of staff||Estimated Number||Estimated wages/Month|
We would like your company to provide us Professional Liability Insurance that protects our company and employees against claims of inadequate or negligent work.
ABC should provide coverage for the building structure and its contents, against damages caused by events such as earthquake, flood, riots, fire, water leakage and malicious damages. This should be covered in all of our office buildings situated in different locations. The details of the office location are provided below:
|No.||Address||Year of construction||No. of levels||Materials used||No. of employees||Value|
|1||Signal Hill, CA, United States|
|2005||1||Glass, Wood, Steel||15||$150,000|
|2||Sterlington, LA, United States|
|2010||2||Glass, Wood, Steel, Marble, Stone||25||$200,000|
|3||Mansfield, LA, United States|
|2017||2||Glass, Wood, Steel, Aluminum||25||$250,000|
In case of destruction or damage to the property of XYZ, caused by theft, involving forceful and violent entry or exit from the building, the company should be liable for repair and replacement.
|1||Goods in trust||$10,000|
|3||Cash in locker||$30,000|
ABC must cover claims arising from accidents involving vehicles used by our company. The coverage must include bodily injury, medical payments, and collision. The purpose of the vehicles used is to do construction related work and carry equipment. These operate approximately 8 hours/ day. We own 17 vehicles. The drivers do not suffer from diabetes, heart condition or any type of physical disability.
|No.||Year of manufacture||Items in number||Registration number||Present market value/Item||Engine size||Chassis no.|
|3||Dump trucks||4||34545454543||$20,000||607 kW||343434|
Provided below is the schedule of events that will take place:
We have prepared this proposal for your company to provide us Insurance and all the details of our properties, assets, and employees are given. We would like you to go through the details thoroughly and provide us your proposal by the 1st of July 2019.
ABC should prepare a proposal for us so we can evaluate the suggestions and services and check whether they are suitable and beneficial for us. After that, we can arrange a meeting to further look into the matter.
The next step would be the acceptance of the proposal provided by your company. Hopefully, we will reach a common ground. We look forward to working with your company.
You can contact us with any of the following ways:
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