Alonso & Andrade Insurance Group

What do we do?

In Alonso & Andrade Insurance Group we provide a full range of insurance brokerage and risk management consulting services for businesses and individuals throughout the US. In addition to offering all forms of property casualty insurance, the firm also provides life, employee benefits and business protection and succession services for companies of all sizes.

Our History/Our Legacy

The foundation of our work is based upon over 75 years’ experience in north Texas of our two owners, the dedication and expertise of our staff, and longstanding partnerships with our insurance carriers. We have collectively partnered with literally hundreds of companies, in Texas and nationwide over the past 40 years.

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How we work at Alonso & Andrade Insurance Group?

It’s critical to note that securing coverage for a business or individuals should be based upon exposures and needs, and not solely premium dollars. Far too often the lowest premium dictates where a buyer ends up, which is how insurance should not be purchased. Competitive premiums are always of utmost importance, but there should be much more to any buying decision than only the lowest cost program.

Risk Management Analysis

A primary rule of thumb in the insurance industry is for buyers to refrain from trading dollars with insurance carriers, because when that is done with lower deductibles/retentions than needed, the buyer usually loses in the end. In order to avoid this, it’s critical to understand the role analytics plays into building the most effective risk program, and at the lowest possible premium amount. This process is known in the insurance industry as a risk management audit/analysis.

Prior to determining what deductibles or retentions one should accept from the insurance carrier, a thorough review of historical premium and losses should be evaluated. The best method to use to arrive at your optimum deductible is through the analysis of a Loss Stratification, where claims for the past five years are categorized, accordingly by coverage, year and size. After being armed with this information, then and only then can a decision be made as to what retention level the buyer should choose. The buyer can then evaluate the results and make a decision that would fit their “Appetite for Risk”.

Get the proper coverage. Get an insurance program that filled your needs

Many other factors go into the risk analysis other than claims. Another important factor is the type of contracts the insured has signed; which would indicate what the insured has assumed that is not covered in their standard insurance contracts. Too often contracts and agreements are signed by those other than C suite staff, such as purchasing department employees or others, who’s knowledge about legal documents is very limited. Not until one gets in the middle of a difficult claim does the company realize they have agreed to provide indemnification without any insurance coverage, or the proper coverage within their insurance program.

Another important issue is in the area of Disaster Planning, which a recent survey revealed is lacking in over half of the middle market companies in the US today. Many IT departments have their own disaster plan, which is only focused in the IT area, however, these plans fail to consider the remainder of the company. A sound disaster plan should include the entire company, IT and total operations, which can often be the difference of whether a company survives a catastrophic loss or not. Many businesses fail to plan for a catastrophic loss and never resume operations, since they were ill-prepared. And it’s ironic that the cost for the extra coverage needed to satisfy the plan is often only several percent in additional premium.

In the end, it is important for buyers to realize the impact of Indirect Costs and how they offset premium dollars. As you review other sections of our site, you will quickly realize the importance of teaming up with a broker that knows how to address issues before they become problems.

Partnerships

  • Alonso & Andrade is seeking long-term partnerships with middle market companies, other organizations and individuals that are seeking more than just the lowest dollar program.

  • Also,all firm team members abide by the philosophy of always holding the interest of our clients and others above that of their own.