Case Study

Movie Theater Circuit Seeks Advocate to Protect Their Bottom Line

  • A patron committed a criminal act on the client’s premises, resulting in serious injury to another patron.
  • The insurer posted a $2M loss reserve shortly before the client’s renewal date.
  • By advocating for our client, we were able to minimize the reserve impact on our client’s renewal pricing.
  • We closely monitored the claim adjustment process and challenged the adjuster to aggressively defend the client.
  • The claim eventually settled at mediation for well below the reserved amounts.
  • Our client achieved significantly improved renewal pricing.

The Challenge

Our client, a regional movie theater circuit, was facing a sizable premium increase due to the criminal actions of a third party on their premises. This resulted in the insurer posting a $2 million loss reserve shortly before the client’s renewal date.

The Solution

The Symphony Stage claims team carefully monitored the adjustment process and was able to challenge the adjuster’s initial determination. The Symphony Stage service team leveraged their carrier relationships to collaborate with underwriting, ensuring the reserve was reduced prior to finalizing the renewal. This effort continued when it was determined the claim would need to be settled through mediation. 

The Outcome

With the support of Symphony Stage, our client was able to settle their claim in mediation for well below the insurer’s reserved amounts, resulting in competitive renewal rates.

The client ultimately incurred minimal impact on their overall loss experience and insurance costs.