1. Completed an Insurance Review and Risk Management Audit for a five-bank holding company. Consolidated bond and insurance programs into one that resulted in a 30% savings of the annual premium while increasing coverage at the same time.
2. Aided a financial institution under a regulatory Cease and Desist Order, to obtain a Financial Institution Bond through a standard insurance carrier. Coverage was improved and the annual premium cost was reduced.
3. Assisted a multi-billion dollar asset bank in bidding its Bond and Directors and Officers Liability coverage. Prepared bids and made recommendation to management. The result was in increase in coverage and a reduction in premium costs with a minimum of time involvement by management.
4. In a recent analysis of a bank’s operations, two activities were discovered that were not covered by the Financial Institution Bond. One of these activities could have resulted in regulatory intervention. Both activities were immediately corrected with no cost to the bank and very little interruption to operations.
5. Assisted a Georgia bank to come into compliance with the State’s recommended three (3) year outside insurance audit.
6. Reviewed a bank’s Internet operations and made appropriate changes in coverages and limits in the insurance program.
We have had a long-term successful relationship with Bahr Consultants. They provide us significant expertise and knowledge needed to make decisions in our insurance risk management process.
EVP/CFO, Pinnacle Bank – Elberton, GA
We have used Bahr Consultants, Inc. for over 25 years. I have found them to be very knowledgeable, and always available with a warm and friendly voice on the phone. In addition, they make the application process very easy. Their knowledge of products and endorsements keeps us from purchasing additional products that we do not need, and then they review our coverages after the policies are issued to make sure they are in order.
There is great comfort in knowing that they will be there in the event we should need help with an insurance claim. There is great value in what they offer.
CPA, SVP/CFO, Hardin County Bank – Savannah, TN
We’ve had an excellent relationship with Bahr Consultants over the past few years with reviewing and determining our insurance risks. Hank Bahr has done a phenomenal job of working with local agents to determine who we should use based on premium and coverage applicable to what we needed. I would certainly recommend Bahr Consultants to banks needing help with their insurance placement.
Chandler Maurice Beasley, III (Maury)
Pres/CEO, The Bank of Soperton – Soperton, GA
COMMERCIAL / INDUSTRIAL
1. Did an insurance review and risk management audit for a major manufacturing concern. Was able to detect insurance needs and assisted in its insurance renewal resulting in improved insurance coverage and reduced insurance costs.
2. Consolidated the insurance program for a multi-location, multi-state rental property owner, saving over 40% of annual premium dollars while improving coverage.
3. Did a Worker’s Compensation audit review for a medium size metal fabricator. Discovered insurance company errors resulting in over $20,000 in returned premiums.
In addition to continually giving excellent counsel in recommending which types of insurance are prudent for me and my business, he was directly responsible for reducing my insurance cost by approximately 30% at my last insurance renewal.
Pres/CEO, Copelands, Inc. – Ooltewah, TN
SVP, Plateau Insurance Group – Crossville, TN
1. Assisted Utility in analyzing its exposure in relation to the State’s Municipal Tort Liability Act. Put together an insurance program that enabled the Utility to take advantage of the Act and the insurance marketplace as well.
2. Reviewed a Gas Utility’s insurance and risk management program. Put the program out for bid and improved coverage 20% while lowering premium costs 15%. Have continued to provide services to the Utility maintaining excellent coverage while managing to lower costs at least 5% per year.
3. Reviewed a Utility’s General Liability insurance, discovering numerous insurance company’s errors, resulting in a significant premium credit to the Utility, rather than the additional premium billed by the insurance company.
4. Reviewed a Gas Utility District’s operations and insurance program discovering several areas that would not be covered by its current insurance program. Then assisted the Utility in obtaining proper insurance coverage at a competitive price.
Trust is the center point of any relationship, and, we trust the staff of Bahr Consultants, Inc. They have helped Jefferson-Cocke Utility District for over 25 years with our Property & Casualty Insurance program. Hank and his staff work hard for us in obtaining the needed insurance coverage, and then review our policies to make sure we get the coverage we were promised.
General Manager, Jefferson-Cocke Utility District – Newport, TN