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The CFO of a $4 billion cleaning company that had $175 million tied up as collateral for its insurance coverage recently found himself across the table from the chief credit officer and chief actuarial officer of his company’s carrier. His goal: Get the insurer to agree to reduce that collateral requirement, which ate up 75% of the company’s credit revolver. Marcia Linton, national practice leader for Wells Fargo Insurance Services USA, who was helping this company negotiate its policy renewal, says that by conducting a “thorough review” of the company’s financials as well as its third-party actuarial calculations and vetted loss projections, the CFO was able to convince the carrier to reduce its collateral requirement by $20 million in the first year and another $17 million in the second year.

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