Scope of Services
We are professional risk consultants fully conversant with all aspects of insurance protection. We act for our clients in seeking the best terms and coverage available at the most reasonable price and placing the risks with reputable insurers either locally or overseas. Our professional services include, but are not limited to:
Contracts / Project Documents review
- Review the various contracts in the project for risk assessment, identification and assigned responsibilities in relation to risk and insurance.
- Ensuring that the risks assumed by Client under the various contracts are properly identified and mitigated whether through insurance or other options.
- Assistance in the drafting the risk and insurance provisions for sub-contractors and suppliers agreement according to Client’s requirement.
- Assistance in drafting a standardized risk and insurance provision and clause in the agreements
Insurance Program Design & Placement
- Plans and executes insurance placement strategies/ marketing
- Maximizing coverage while minimizing costs through aggressive negotiations with the available insurance markets.
- Provides report outlining status of the insurance placement process.
- Complete the project insurance program placement and obtain evidence of cover from the chosen markets
- Prepare documentation as evidence of cover & check for accuracy where required
Provision of Insurance Program Manual and Procedures
- Provide Clients (if required) with insurance manual that contains summaries of the policies in place. A summary will contain details of the insured parties, limits of coverage, deductibles/excess, main insuring clauses, principal exclusions and any specific reporting requirements under each policy.
- The insurance manual will also stress particular conditions or warranties that need to be complied with if applicable.
Claims Management Program & Administration
- Assist in selection & appointment of Loss adjusters in an event of major claim.
- Design Claims Management Program pertaining to insurance claim work flow, notification procedures, establish timelines for turnaround time / responses
- Provides complete assistance and service in handling of claims i.e. notification to insurers, document submission and coverage advise
- Monitoring on progress of claims, negotiation with the insurers on behalf of Clients
- Coordination of claims communication with all parties involved
- Ensure prompt claims settlement – interim and or one off settlement where applicable
Insurance Program Administration and Management
- Regular meetings with Clients to review insurance programme in place, up-dates on changes to business activities and the changes taking place in the insurance market environment.
- Respond to queries, day to day servicing Risk / Site surveys
- Coordinate with Clients and Insurers on conduct of risk survey, whether as requirement to Special Rating, Large & Specialized Risk, pre-acceptance of risk or on client’s request.
- Negotiate a schedule of such visits to the site to ensure minimal the disruption to the Client’s production roll whilst meeting the requirements of the underwriters.
Risk / Site Surveys
- Coordinate with Clients and Insurers on conduct of risk survey, whether as requirement to Special Rating, Large & Specialized Risk, pre-acceptance of risk or on client’s request.
- Negotiate a schedule of such visits to the site to ensure minimal the disruption to the Client’s production roll whilst meeting the requirements of the underwriters.
Conclusion
The service to be provided by an Insurance Broker is a key issue in the success of an insurance programme. Service must be of the highest standard in the areas of:
1 . Exposure Analysis
2. Insurance Programme Placement
3. Insurance Administration (both setting up and ongoing management)
4. Claims Management, adjustment and monitoring
As your insurance brokers, we will undertake to deliver such services and we believe that we will be more than capable of handling your insurance requirements efficiently and professionally.Meanwhile, if there are any areas where we can offer clarification or which have not been addressed in this proposal; we would be pleased to provide any information required.
Contracts / Project Documents review
- Review the various contracts in the project for risk assessment, identification and assigned responsibilities in relation to risk and insurance.
- Ensuring that the risks assumed by Client under the various contracts are properly identified and mitigated whether through insurance or other options.
- Assistance in the drafting the risk and insurance provisions for sub-contractors and suppliers agreement according to Client’s requirement.
- Assistance in drafting a standardized risk and insurance provision and clause in the agreements
Insurance Program Design & Placement
- Plans and executes insurance placement strategies/ marketing
- Maximizing coverage while minimizing costs through aggressive negotiations with the available insurance markets.
- Provides report outlining status of the insurance placement process.
- Complete the project insurance program placement and obtain evidence of cover from the chosen markets
- Prepare documentation as evidence of cover & check for accuracy where required
- Plans and executes insurance placement strategies/ marketing
- Maximizing coverage while minimizing costs through aggressive negotiations with the available insurance markets.
- Provides report outlining status of the insurance placement process.
- Complete the project insurance program placement and obtain evidence of cover from the chosen markets
- Prepare documentation as evidence of cover & check for accuracy where required
Provision of Insurance Program Manual and Procedures
- Provide Clients (if required) with insurance manual that contains summaries of the policies in place. A summary will contain details of the insured parties, limits of coverage, deductibles/excess, main insuring clauses, principal exclusions and any specific reporting requirements under each policy.
- The insurance manual will also stress particular conditions or warranties that need to be complied with if applicable.
- Provide Clients (if required) with insurance manual that contains summaries of the policies in place. A summary will contain details of the insured parties, limits of coverage, deductibles/excess, main insuring clauses, principal exclusions and any specific reporting requirements under each policy.
- The insurance manual will also stress particular conditions or warranties that need to be complied with if applicable.
Claims Management Program & Administration
- Assist in selection & appointment of Loss adjusters in an event of major claim.
- Design Claims Management Program pertaining to insurance claim work flow, notification procedures, establish timelines for turnaround time / responses
- Provides complete assistance and service in handling of claims i.e. notification to insurers, document submission and coverage advise
- Monitoring on progress of claims, negotiation with the insurers on behalf of Clients
- Coordination of claims communication with all parties involved
- Ensure prompt claims settlement – interim and or one off settlement where applicable
- Assist in selection & appointment of Loss adjusters in an event of major claim.
- Design Claims Management Program pertaining to insurance claim work flow, notification procedures, establish timelines for turnaround time / responses
- Provides complete assistance and service in handling of claims i.e. notification to insurers, document submission and coverage advise
- Monitoring on progress of claims, negotiation with the insurers on behalf of Clients
- Coordination of claims communication with all parties involved
- Ensure prompt claims settlement – interim and or one off settlement where applicable
Insurance Program Administration and Management
- Regular meetings with Clients to review insurance programme in place, up-dates on changes to business activities and the changes taking place in the insurance market environment.
- Respond to queries, day to day servicing Risk / Site surveys
- Coordinate with Clients and Insurers on conduct of risk survey, whether as requirement to Special Rating, Large & Specialized Risk, pre-acceptance of risk or on client’s request.
- Negotiate a schedule of such visits to the site to ensure minimal the disruption to the Client’s production roll whilst meeting the requirements of the underwriters.
- Regular meetings with Clients to review insurance programme in place, up-dates on changes to business activities and the changes taking place in the insurance market environment.
- Respond to queries, day to day servicing Risk / Site surveys
- Coordinate with Clients and Insurers on conduct of risk survey, whether as requirement to Special Rating, Large & Specialized Risk, pre-acceptance of risk or on client’s request.
- Negotiate a schedule of such visits to the site to ensure minimal the disruption to the Client’s production roll whilst meeting the requirements of the underwriters.
Risk / Site surveys
- Coordinate with Clients and Insurers on conduct of risk survey, whether as requirement to Special Rating, Large & Specialized Risk, pre-acceptance of risk or on client’s request.
- Negotiate a schedule of such visits to the site to ensure minimal the disruption to the Client’s production roll whilst meeting the requirements of the underwriters.
