Before customers engage us as their mandated brokers, they may wish to satisfy themselves as to our capability to handle their insurance portfolio. To this end we offer to carry out a complete review of their current insurance programme, keeping in mind that insurance coverage is intended to be an integral part of Risk Management exercise in any organization.
Apart from a thorough review of the existing policy conditions, the exercise involves interaction with:
- Employees of insurance broking firms have to undergo rigorous training & examinations before they are granted permission to service clients
- Brokers are qualified in specialized technical fields of insurance giving them considerable leeway while handling tasks like portfolio audit, policy structuring and post sale issues like claim settlements
We provided a detailed report highlighting the adequacy of existing coverage, suggestions on removal of redundant policies, evaluation of the scope for self-insurance and examine need for additional coverage if any, terms of insurance cover, pricing, compliance with statutory requirements etc.
We can also organize valuation of the physical assets at a cost, to ascertain adequacy of valuation for insurance purposes.
This exercise can also be carried out as a standalone exercise as a "second opinion" on the insurance coverages.