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Alliant: Best Insurance Service Provider 

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Like many other firms, Alliant was very concerned with how the global shutdown was going to affect its clients, firm and people at the onset of the pandemic: its insurance advisory and brokerage business is collaborative and relies heavily on a high level of people interaction between clients, underwriters and colleagues.  

Like many other firms, Alliant was very concerned with how the global shutdown was going to affect its clients, firm and people at the onset of the pandemic: its insurance advisory and brokerage business is collaborative and relies heavily on a high level of people interaction between clients, underwriters and colleagues.  

According to Ron Borys, SVP, Managing Director, Financial Institutions Industry Vertical Leader at Alliant: “While many in our space experienced distractions with the pandemic and other events disrupting our industry, our Alliant team stayed focused on providing excellent service and advice to our clients. Through the use of technology, we stayed actively engaged with our trading partners, and have communicated better with underwriters during the pandemic than we ever had before.”  

Without having an in-person prospect meeting in more than 18 months, Alliant set department records for the number of new clients won in 2020 and 2021. “Our people are our business, and we are fortunate to have some of the best talent in the insurance brokerage industry working hard every day to drive the best possible outcomes for our clients,” Borys adds. 

In terms of market trends, Borys stated that the insurance marketplace is experiencing a “hard market” cycle where “underwriters are under strict mandates to seek premium rate increases across their insurance portfolio, and have been looking for opportunities to restrict and narrow the scope of coverage. This has made for some very challenging conversations with clients.”  

Pressing for the best

Rather than accepting the insurance market for what it is, Alliant’s brokers continue to challenge underwriters to consider and differentiate the unique risk factors of each of their clients, working to generate competition amongst insurers to minimise increases and maintain or expand coverage terms.  

“Coverage for regulatory investigations and cyber breach events continues to be at the forefront of our risk discussions with clients. We are very fortunate to have added some top industry talent and resources, who specialise in policy wording and cyber risk, to work alongside our brokers and clients through these challenging issues,” Borys says.   

Data and analytics have become an integral part of a financial services firm’s operational risk management framework, and Alliant’s proprietary benchmarking and risk modelling for hedge funds enables clients to make informed purchasing decisions regarding insurance limits and self-insured retentions (deductibles).

Borys says: “Our data and analytics resources help clients better understand their risk exposures and the value of the insurance coverages that they purchase.” 

Regarding the next 12-18 months, Borys notes that hedge funds in general have been a highly desired class of business in the insurance market for many years, and he anticipates that this will continue to be the case in years to come.  

“We expect that the overall insurance market conditions for the hedge fund industry will begin to flatten and ultimately soften over the next 12-18 months as new capacity enters the market, thus driving competition,” he says. “While certainly not a prediction by any means, I can tell you with certainty that we are going to continue to invest in resources and work hard to remain the best insurance provider to the hedge fund industry in 2022!” Borys concludes.


Ron Borys, SVP, Managing Director, Financial Institutions Practice Leader, Alliant
Ron Borys leads the Financial Institutions Practice for Alliant. The practice, formerly Crystal before being acquired by Alliant in 2018, consists of 45 brokerage and legal professionals who specialise in insurance products and claims recoveries for hedge funds. Borys has over 20 years of insurance brokerage experience working with financial institutions and hedge funds.

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