From health insurance to life insurance, just the thought of these necessities can send chills up the spine of even the most steady business owner. Navigating the spiels can often feel like what you’re being sold is just more, not more of what you need. This is exactly what Lloyd Sadd Insurance Brokers does not do. The firm operates on a relatively simple premise: “Understand your clients’ business and you’ll understand their insurance needs.” And this is exactly what is different about Lloyd Sadd. It’s not about being big; it’s about being a business partner. Under the leadership of T. Marshall Sadd, the firm’s president and the great grandson of the firm’s founder, Lloyd Sadd has begun to focus on a niche that was not previously filled in the construction industry. Founded in 1941, the firm is headquartered in Edmonton, Alberta, and operates with about 95 employees, 20 of whom are dedicated solely to the construction market. Seeing other brokers sell as much as possible to increase growth, Marshall had a different idea once he came to his position in 1999: He refocused the firm’s objective to be one that partners with its contractors. Specific coverage options include contractors’ liability, developers’ liability, builders’ risk, environmental contractors, and environmental site coverage. The firm can cover every phase of the construction process, from design through the finished product. Lloyd Sadd works closely with its contractors and project owners to develop the best solution available. This includes risk engineering and claims service to help keep risk management costs under control. Helping Them Grow If one were to summarize the purpose of insurance, growth would not likely be on the list. But Lloyd Sadd looks to add what could be a deciding factor in its clients pursuit of jobs. “We are focused on surety and risk management and we help them grow,” explains Garth Lane, partner and sales manager of Lloyd Sadd. “I am a business partner not an expense.” Lane has been in the insurance and risk management industry since 1978 and came to Lloyd Sadd in 2000. He is responsible for the development, design and delivery of unique solutions that protect the firm’s contractor clients. The firm knows that contractors love to build. They also love to stay lean. Putting two and two together, Lloyd Sadd realized that it could fill a hole in the market by both keeping companies safe and helping them build a competitive advantage. “We do the stuff contractors hate to do; if they are going to hire, then they are going to hire someone who can build stuff,” jokes Lane. “We want to do the things that, if we didn’t do it, they would have to hire internal administration or not do it at all.” What exactly does this look like? It goes beyond someone calling for a policy. “We are not an order taker, we want to know the best ways to get the best terms and conditions,” says Lane. To that end, the firm invests time in its contractors’ businesses to help reduce their total cost of risk, which makes them more competitive and more profitable. By using its industry focus to comprehensively know each customers’ specific facets and potential needs, Lloyd Sadd also helps its contractors become more attractive when negotiating jobs and relationships. “We want to be on the revenue side of our contractors not on the expense side,” says Lane. Lloyd Sadd does this by having a true understanding of the construction industry and marrying it with its expertise in risk management. Lloyd Sadd’s coverage and networking has come together to lower costs and raise coverage during the erection of numerous buildings throughout Alberta, including major towers, large condo complexes, apartments, and business complexes. Most recently, the firm was involved with a large biodiesel facility. Constant Reevaluation One of the other cornerstones that makes Lloyd Sadd unique is its belief in reevaluation. “We are always asking, ‘What makes us better? What makes us different?’ If we ask and we get air space then we go back to the drawing board,” says Lane. Lloyd Sadd makes it a point to be different. Having partnerships with its contractors, it seems the firm can certainly be said to be unique; and in a way that serves its contractors and the industry well.