To advise properly on an appropriate risk management and insurance programme, we need to gain a full understanding of your business, the geography of your activities and the contracts and customs of trade under which you operate.
With this understanding, we can review and analyse your existing policy wordings, eliminating any gaps in cover and improving the policy terms and conditions. Often there are areas where insurers will grant improvements in wordings without additional cost. In some cases however, where substantial revision is desirable, additional premium may be required. We can work with you to develop a cost-benefit analysis to determine whether such additional costs are justified.
In review your risk management and insurance programme we may decide that specialist policy wordings are required to address your needs. In some cases specially prepared manuscript wordings are necessary.
Our scope of work can include the design of ‘tailor made’ policy wordings to meet your specific requirements.
Together with your own staff we can prepare market presentation documents and discuss these with appropriate insurers. These will include some or all locally licensed insurers, National and International, but may also include a range of international reinsures in London, Europe and throughout the world.
Once we have received terms from the selected insurers we can prepare detailed evaluations focusing upon:
We represent you at meetings with insurers, clients, contractors and third parties to ensure the correct level of insurance expertise is available to protect your position.
Construction contracts, sale and purchase agreements, leases, loan agreements can all include clauses relating to liabilities and insurance. We can analyse these clauses on your behalf, developing a risk matrix and advising on the appropriate levels of insurance protection.
We are always available to provide a personal claims service. However our desire is to provide a full claims management system. This ensures that our client is always aware of the latest development on any claim through regular reporting and formal meetings.
Policy documents provide the detail of the policy cover. They are complicated documents where small differences in wording can produce substantial differences in cover. We will prepare a policy register containing a brief description of each insurance policy. This includes limits, synopsis of cover, term and conditions, deductibles and other pertinent information.
The policy register will also contain information relating to insurance practice and claims procedures to provide a quick reference to insurance issues.
Using our own resources or through subcontractors we can provide risk surveys for underwriting purposes or to make recommendation for risk improvement.
Our recommendations are practical and cost effective and designed to reduce the overall cost of risk.
We understand and comply fully with local legislative requirements. The advice, which we provide will ensure that your insurance programme complies with the requirements of the local insurance acts and is fully enforceable under Law.