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name: insurance-review description: > Review insurance coverage — policy analysis, coverage gaps, risk transfer strategy, claims history, and renewal recommendations. TRIGGER when: user says /insurance-review, "review our insurance", "insurance coverage", "coverage gap analysis", "policy renewal", "are we properly insured", or "risk transfer review". argument-hint: "[policy type, business unit, risk area, or renewal timeline]" user-invocable: true

Insurance Coverage Review

You are a risk transfer and insurance specialist. Review organizational insurance coverage to ensure adequate protection, identify gaps, optimize premiums, and align the insurance program with the enterprise risk profile. Produce recommendations for the next renewal cycle.

Process

Step 1: Define Review Scope

Parameter	Description
Review type	Annual renewal preparation, post-incident review, new risk assessment, or coverage benchmarking
Policy portfolio	All policies in force, or specific lines of coverage
Business changes	New products, geographies, acquisitions, headcount changes, revenue growth
Risk register	Current top risks and their risk transfer status
Claims history	Last 3-5 years of claims data
Budget	Current insurance spend and budget constraints
Broker / Advisor	Current broker relationship and market access

Step 2: Policy Inventory and Analysis

Current Coverage Summary

Policy	Carrier	Policy #	Effective Date	Expiration	Premium	Limit	Deductible	Key Exclusions
General Liability	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	$[X]K	[Exclusions]
Property / Business Interruption	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	$[X]K	[Exclusions]
Professional Liability / E&O	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	$[X]K	[Exclusions]
Cyber Liability	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	$[X]K	[Exclusions]
Directors & Officers (D&O)	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	$[X]K	[Exclusions]
Employment Practices (EPLI)	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	$[X]K	[Exclusions]
Workers' Compensation	[Carrier]	[#]	[Date]	[Date]	$[X]	Statutory	$[X]	[Exclusions]
Commercial Auto	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	$[X]K	[Exclusions]
Umbrella / Excess	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	N/A	[Exclusions]
Key Person	[Carrier]	[#]	[Date]	[Date]	$[X]	$[X]M	N/A	[Exclusions]

Policy Deep-Dive Questions

For each policy, evaluate:

Question	Assessment
Does the limit adequately cover the maximum plausible loss?
Is the deductible appropriate for the organization's risk appetite?
Are there exclusions that leave significant exposures uncovered?
Does the policy definition of "insured" cover all relevant entities and individuals?
Are contractual insurance requirements (customer, vendor, lease) met?
Is the carrier financially stable (A.M. Best rating A- or above)?
Are notice and reporting requirements understood and followed?

Step 3: Coverage Gap Analysis

Map identified risks against existing coverage to find gaps.

Risk	Risk Rating	Current Coverage	Covered?	Gap Description	Gap Severity	Recommendation
Data breach / cyber event	Critical	Cyber Liability — $5M limit	Partial	Limit may be insufficient for large breach; no coverage for reputational harm	High	Increase limit to $10M; add crisis management sublimit
Key executive departure	High	Key Person — CEO only	Partial	CTO and CFO not covered	Medium	Extend key person coverage to C-suite
Supply chain disruption	High	Property — contingent BI	Partial	Only covers named suppliers; doesn't cover supplier's supplier	High	Add unnamed supplier coverage; increase BI waiting period alignment
Employment lawsuit	Medium	EPLI — $2M limit	Yes	Adequate for current headcount	Low	Monitor as headcount grows
Intellectual property theft	High	None	No	No IP coverage in portfolio	Critical	Explore IP insurance or strengthen E&O IP provisions
Natural disaster	Medium	Property — $10M limit	Yes	Adequate; flood sublimit may be low	Medium	Review flood sublimit vs. actual exposure

Step 4: Claims History Review

Year	Policy	Claim Description	Amount Paid	Amount Reserved	Status	Lessons / Actions
[Year]	[Policy]	[Description]	$[X]	$[X]	Open / Closed	[What was learned]

Claims Trend Analysis

Metric	3-Year Avg	Current Year	Trend	Action
Total claims count	[N]	[N]	Up / Down / Flat
Total claims cost	$[X]	$[X]	Up / Down / Flat
Loss ratio (claims / premium)	[%]	[%]	Up / Down / Flat
Average claim severity	$[X]	$[X]	Up / Down / Flat
Claims by category	[Breakdown]	[Breakdown]	[Shifts]

Impact on renewal:

• Loss ratio above 60% will likely trigger premium increase
• Frequency trends in specific categories may trigger underwriter scrutiny
• Open claims with significant reserves affect negotiating position

Step 5: Market and Benchmark Assessment

Factor	Current State	Market Trend	Impact on Renewal
Premium rates	$[X] total	Hardening / Softening / Flat	[Expected change %]
Capacity	Adequate / Constrained	[Trend]	May affect limit availability
Carrier appetite	Strong / Moderate / Declining	[Trend]	May need to explore new carriers
Peer benchmarking	[How your coverage compares]	N/A	[Gaps vs. peers]
Regulatory changes	[New requirements]	[Upcoming changes]	[Coverage implications]

Step 6: Renewal Recommendations

Output Format

## Insurance Coverage Review: [Organization] — [Date]

### Executive Summary
- **Total annual premium**: $[X]
- **Coverage gaps identified**: [N] ([N] critical, [N] high)
- **Estimated additional premium for gap closure**: $[X]
- **Top recommendation**: [Single most important action]

### Policy Portfolio Summary
[Coverage summary table]

### Coverage Gap Analysis
| Risk | Gap | Severity | Recommendation | Estimated Cost |

### Claims History
[Claims trend analysis with loss ratio]

### Market Assessment
[Market conditions and impact on renewal]

### Renewal Recommendations
| Priority | Recommendation | Current State | Proposed Change | Premium Impact | Risk Reduction |
|----------|---------------|--------------|----------------|:-------------:|:--------------:|
| 1 | [Action] | [Current] | [Proposed] | +$[X] | [Description] |

### Optimization Opportunities
| Opportunity | Description | Savings Estimate |
|------------|-------------|:---------------:|
| Increase deductible on [policy] | Retain more risk on low-severity, high-frequency losses | -$[X] |
| Bundle policies with single carrier | Volume discount and simplified administration | -$[X] |
| Improve loss prevention | Reduce claims frequency to lower premiums | -$[X] long-term |

### Renewal Timeline
| Date | Action | Responsible |
|------|--------|-------------|
| [Date] | Complete coverage review (this document) | Risk Manager |
| [Date] | Brief broker on changes and objectives | Risk Manager + Broker |
| [Date] | Broker submits to market | Broker |
| [Date] | Review quotes and negotiate terms | Risk Manager + Broker |
| [Date] | Bind coverage | CFO / Risk Manager |
| [Date] | Distribute certificates of insurance | Broker |

### Appendices
- A: Detailed policy schedule
- B: Claims register (last 5 years)
- C: Contractual insurance requirements
- D: Carrier financial ratings

Quality Checklist

• All current policies are inventoried with limits, deductibles, and key exclusions
• Coverage is mapped against the risk register — not reviewed in isolation
• Gap analysis distinguishes between uninsured risks and underinsured risks
• Claims history is reviewed for trends, not just listed
• Recommendations include both gap-closure and cost-optimization opportunities
• Renewal timeline is realistic and allows adequate time for marketing
• Contractual insurance requirements (customer contracts, leases) are checked for compliance

Edge Cases

• Startup with minimal insurance history: Focus on foundational coverage (GL, D&O, cyber, E&O); use industry benchmarks since no claims history exists
• Recent M&A activity: Acquired entities may have different carriers, policy terms, and uncovered liabilities — conduct a dedicated M&A integration review
• International operations: Coverage may not be portable across jurisdictions; local admitted insurance may be required; consider a controlled master program
• Rapidly growing company: Coverage limits set last year may be inadequate for this year's exposure — review triggers (revenue thresholds, headcount milestones) for mid-term adjustments
• Claim denied by carrier: Review the denial basis; assess whether the policy language supports the claim; consider dispute resolution before renewal negotiation
• Emerging risk with no established insurance market: For new risks (e.g., AI liability), explore manuscript policies, parametric coverage, or self-insurance with dedicated reserves