Once we have identified and quantified our clients' risk exposure (ie. Risk Profile), then we are in a position to design an appropriate risk transfer (ie. insurance) program.
The insurance program we design will take into account the following factors:
- Risk appetite (ie. how much risk you want to retain).
- Probability and consequence analysis.
- Financier and other third party requirements (eg. contractual requirements).
- Other risk management measures (eg. physical protection, critical spaces etc).
- Analysis of possible and probable loss scenarios.
- Historic claims experience.
- Cost Benefit analysis.
- Normal / prudent insurance covers (particularly relevant for publicly listed companies).
- Structured so that it can accommodate future changes in risk profile.
- Complies with legal and legislative requirements.
- Is tailored to cover specific and evolving risks.