Property & Casualty

Burnham Risk property insurance experts utilize a unique approach to developing and negotiating property insurance programs. In order to drive the optimal outcome in the design and placement of property insurance programs, our team of professionals takes a multi-step process and analytical approach to generating results.

One of the challenges facing property catastrophe insurance buyers is that carrier risk models are not often transparent, and their brokers don’t often have the modeling tools to develop alternative strategies. Burnham performs upfront catastrophe modeling to shed light on “black box” carrier risk models. By bringing our own modeling results to the underwriting process, we can successfully negotiate improved PML factors from an informed position. Burnham’s analytics-based approach helps level the playing field for our property insurance clients.

Burnham provides property risk management and insurance expertise in the following areas:

• Identifying your top “PML or cost drivers” for wind and earthquake risks
• Developing asset hardening strategies (strategies to reduce property catastrophe insurance premiums through engineering or operational improvements)
• Avoiding the “assumption tax” that carriers often incorporate into loss models for incomplete or minimal data
• Pre-modeling the PML of your property portfolio with multiple industry models to strengthen your negotiating position
• Generating detailed analysis of underwriting data including the targeted collection of secondary construction characteristics to improve loss modeling results
• Access to and control of facultative reinsurance
• Risk engineering advice

Property Risk

Burnham property insurance experts utilize a unique approach to developing and negotiating property insurance programs. In order to drive the optimal outcome in the design and placement of property insurance programs, our team of professionals takes a multi-step process and analytical approach to generating results.

One of the challenges facing property catastrophe insurance buyers is that carrier risk models are not often transparent, and their brokers don’t often have the modeling tools to develop alternative strategies. Burnham performs upfront catastrophe modeling to shed light on “black box” carrier risk models. By bringing our own modeling results to the underwriting process, we can successfully negotiate improved PML factors from an informed position. Burnham analytics-based approach helps level the playing field for our property insurance clients.

Burnham provides property risk management and insurance expertise in the following areas:

• Identifying your top “PML or cost drivers” for wind and earthquake risks
• Developing asset hardening strategies (strategies to reduce property catastrophe insurance premiums through engineering or operational improvements)
• Avoiding the “assumption tax” that carriers often incorporate into loss models for incomplete or minimal data
• Pre-modeling the PML of your property portfolio with multiple industry models to strengthen your negotiating position
• Generating detailed analysis of underwriting data including the targeted collection of secondary construction characteristics to improve loss modeling results
• Access to and control of facultative reinsurance
• Risk engineering advice

Casualty Risk

In the world of casualty insurance, no two risks are the same. Marketplace risk appetite and legal and regulatory framework are constantly evolving. This can make casualty-related risk management an onerous and often confusing task.

Burnham casualty risk experts work with clients to develop, design and execute a range of both traditional and complex risk management programs. We take an analytics-based approach to evaluating and structuring risk transfer solutions that are holistic and customized to each client’s unique needs.

Executive Liability

The risks faced by executives today are increasing exponentially. The cost of defending a single claim can devastate a company’s assets, and the process can destroy its reputation. The effects of a major claim can also extend beyond the company to the personal assets of senior management, directors and officers. Understanding and managing your business exposures, whether financial or operational, is a fundamental requirement of good business practice.

Burnham believes in providing the most appropriate financial risk management services to meet your needs and reduce risk. Our business risk management specialists invest their efforts, skills and experience into developing a sound understanding of your organization. We design and implement executive liability programs that align with the individual profile of each business.

Burnham executive liability experts develop tailored programs and specialize in the following areas:

• Educating the executive management team on risk management and risk transfer solutions
• Identifying exposures that may negatively impact your financial performance
• Outlining favorable risk profile characteristics to the underwriting community in order to obtain the most efficient risk transfer options
• Providing ongoing updates of changes in the legal and regulatory environment

Cyber Liability

Cyber risk challenges, which range from data theft and hacking to security breaches and privacy infringements, are faced by nearly every company in today’s tech-centered world.

Burnham cyber liability experts focus on providing cutting edge solutions to clients that fill gaps in protection. These risk transfer products combine first and third-party coverage for many cyber exposures including privacy, hackers, viruses, network disruptions and online advertising and publishing.

Burnham assists clients in transferring a wide range of cyber liability and data breach liability risk exposures, and we provide cyber liability risk management and insurance expertise in the following areas:

• Cyber Liability
• Data Protection
• Intellectual Property Infringement
• Media Liability
• Technology Errors & Omissions

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