Our services
Other Risk Services
M&A - Insurance Due Diligence
Enterprise Risk Management, Risk Appetite, Tolerance and Retention
Captives and Alternative Risk Transfer Solutions
Governance Risk and Compliance
Insurance Review and Cost Reduction
Our independent experts can help you to assess the performance of your current insurance program, improve your cover and lower your costs. Our insurance diagnostic and benchmarking will highlight areas of improvement and our unique and comprehensive tender management process is proven to strengthen resilience while reducing premiums.
Insurance Review and Cost Reduction
Explore the services which we can provide through our partner network.
Through our relationships with our partners, we are able tailor solutions to the unique complexities of our clients.
By blending our expertise with the capabilities of other specialist providers, our clients can be assured that they are getting the best solution at a competitive price.
Partner services
Insurance Review and Cost Reduction
M&A - Insurance Due Diligence in Deals and Transactions
Captives and Alternative Risk Transfer Solutions
Enterprise Risk Management, Risk Appetite, Tolerance and Retention
Technical evaluation of broker tender responses
Tender management services including management of broker responses and creating competitive tension to maximise cost reduction
Development of an RFP document for your insurance program
Benchmarking of your insurance program (including cost / premiums, coverage, deductible and indemnity level)
A review of your current broker and insurance program
Policy wording review, comparison and benchmarking
Insurable risk profiling and gap analysis
Validation of loss limits and indemnity levels
A review of broker performance and areas of improvement
Recommendations for changes and enhancements to your insurance program (if necessary)
Depending on your requirements, our process may include:
We are independent from all brokers and insurers. There is no need to change your incumbent broker to achieve positive results. Our process is pragmatic and flexible - we will tailor it to meet the specific needs of your business.
/ Our process
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/ Key outcomes for our clients
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Identifies areas of under-insurance and reduces exposure
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Optimises your current insurance program, improves coverage and policy wordings
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Compare the latest perspectives and knowledge from top tier brokers of your insurance program
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Improved knowledge of broker remuneration practices
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Transparent insight into broker performance and confidence in their agency
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Insurance cost and premium reduction of 17% on average without necessarily needing to change brokers
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Inadequate visibility of cover suitability, potential exposures and new risks
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Uncertainty as to whether you are getting the highest performance from your broker and whether your broker is acting in your best interests
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Losing control of insurance costs and unsure whether your premiums are competitive
/ Potential issues facing our clients
Insurance Review and Cost Reduction
Depending on your requirements, our process may include:
Our process will be tailored depending on the particulars of the deal and your specific requirements:
/ Our process
Review sales and purchase agreements (SPA) and transitional service arrangement agreements (TSA) for any insurance related issues
Assess historical, current and pending claims, including exposure assessment.
Identify and assess any under or
un-insured risks.
Review current insurance costs and identify areas of potential synergy.
Review and understand the target business, insurance and risk management program and key risks / exposures.
Assist with insurance management meetings, document review and populating project data rooms (where required)
Review any change of control clauses of impacts to current insurance arrangements as a result of the transaction (e.g. triggering of coverage changes)
Assess optimal structure of insurance program moving forward to ensure the best covers at the most economical cost.
Assess loss history and impact on future insurance placement.
Evaluate insurance purchasing strategy and broker performance (including remuneration, relationships and risk / claims management services).
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Integration / separation planning and execution into the buyer’s insurance program (if necessary)
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Pre and post deal insurance services (e.g. market review, benchmarking, broker performance analysis and RFP)
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Vendor / sell side insurance due diligence solutions (e.g. VDD report, Q&S sessions, insurance clauses in the Sale and Purchase Agreement and / or Transitional Services Agreement)
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Buy side advisory including identification of red flags risks and value creation opportunities
/ Our insurance due diligence services
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Rapid implementation of post completion execution plans to capture and deliver value within accelerated timeframes (e.g. engaging the most qualified broker and locking in renewal savings with enhanced coverage)
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Unbiased, transparent and practical advice that can be relied upon by the Buyer or Seller
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Confidence that go-forward insurance will mitigate potential future losses or claims exposures
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Identification of exposures or retained losses which could impact financial modelling or financial statements of the target
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Value creation through identification of potential cost savings initiatives impacting EBITDA
/ Key outcomes for our clients
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Unable to establish the full cost of insurance and accepting the buyers view of insurance related EBITDA items
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Placing reliance on advice provided by brokers who may have conflicting interests (whether the incumbent broker or hoping to replace the incumbent)
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Asset impairment as a result of inadequate terms, limits and types of insurance
/ Potential issues facing our clients
M&A - Insurance Due Diligence in Deals and Transactions
Training and Development Solutions
Health, Safety and Environmental Risk Management and Solutions
Cyber and Digital
Crisis Response
Political Risk and Country Risk
Organisational Resilience
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Risk identification and assessment
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Business continuity management
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Crisis readiness, response and recovery
Organisational Resilience
/ Our process
The appointment of the best reinsurers by utilising the services of an expert reinsurance broker
We will manage the feasibility study for you without any conflict of interest and with 50 years of insurance management experience.
Our tender processes will ensure the appointment of best captive manager, independent of any insurance broker, as well as
Claims will be managed by an independent expert third party claims administrator.
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Failure to prepare accurate financial and actuarial projections.
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Failure to determine the level of risk the captive is willing to take.
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Failure to understanding of all tax implications, including tax deductibility of premiums.
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Inappropriate claims management and reserving processes.
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Failure to avoid (1) Advisor Risk (the appointment of a captive broker or reinsurance broker who is the agent of the captive’s insurers or reinsurers) and (2) Management Risk (a captive manager who also provides broking and risk management services to the captive).
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Failure to undertake a non-conflicted feasibility study.
/ Potential issues facing our clients
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Independent expert reinsurance broking will provide the Best Value reinsurance cover.
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Independent expert captive management
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Well-defined strategic objectives.
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An appropriate feasibility study, including financial and actuarial projections, and budgets.
A successful captive setup process which includes:
/ Key outcomes for our clients
Captives and Alternative Risk Transfer Solutions
/ Our process
Benchmark risk retention options to determine the Best Value for money.
For each risk category identified the organisation expresses the level of risk it is willing to take – facilitated by our experts.
We will help develop a risk advisory statement which will express the strategic objectives, including purpose, vision and values of the organisation.
Actuarial determination of the risk retention options, which offer the Best Value for money.
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The development of a clear statement of the broad risk categories to which the organisation is exposed.
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The risk categories identified will be comprehensive and reflective of the risks to which the organisation will be exposed in the normal course of its operations,
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A clear understanding of the level of risk the organisation is willing to take for each category is developed.
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Actuarial determination of the risk retention options, which offer the Best Value for money.
/ Key outcomes for our clients
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Management does not know the organisation’s boundaries for risk taking.
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The organisation may be over-insured wasting valuable risk capital.
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The organisation may be under-insured facing unexpected financial losses.
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Difficult to make informed decisions in relation to the achievement of the organisation’s strategies and goals.
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The organisation’s risk appetite may fail to clearly articulate the amount and type of risk it is willing to take in pursuit of its corporate objectives and goals.
/ Potential issues facing our clients
Enterprise Risk Management, Risk Appetite, Tolerance and Retention
Boards, Audit and Risk Committees as well as key stakeholders, demand rigorous risk frameworks and governance solutions. Our risk and compliance solutions can be tailored to ensure your organisation has the most appropriate, efficient and effective governance and compliance framework without overburdening your organisation’s operations.