Insurance Approach and EMLs - InsuranceInspect Services

Our reviews cover each of the following areas, according to your Healthcheck Scope

		Included in Initial Heathcheck	Included in Full Heathcheck
I. Your Past	Realistic Reserves
	Data Inventory
	Core Risk Metrics
	Legacy Policies: fit for purpose?
II. Your Future	Risk Appetite
	Statutory Obligations & Exemptions
	Data Inventory
	Expected Maximum Losses (EMLs)
	EML cash-flow/term profile
	EMLs: Insurability
	EMLs: Risk Consistency
	EMLs: Balance sheet volatility
	Cost of capital
	Indirect hedging
	Non-insurance alternatives
III. Your Custom Made Product	Optimal product design
	Structuring and Layering
	Premium decision range
	Strength of LTA wording
	Compensation Scheme Access?
	Marketing: Solvency II friendly?
	Specific broker experience
	Specific insurer experience
IV.Your Best Provider	Gap analysis
	Insurer profit margin
	Solvency guarantees?
	Solvency II capital coverage
	Recoverability of sales taxes
	Policy add-ons/”freebies”
	Broker remuneration
	Solvency monitoring/exit clauses
	Evidence of “hard-ball” negotiation
V. Your Money	Money-Laundering
	Contract certainty: risks & delays
	Claimant security
VI. Your Review Process	Reviewing the risk transfer decision
	Solvency II issues/premium impacts
	New/replacement products
	Premium rates and trends

What can you learn from your past? How much profit have insurers made from you?
What can happen in your future? How likely are large claims really? What’s the best way to pay for them?
Is an off-the-shelf policy right for you? What are the alternatives? Why insure in the first place?
Is the brokers’ panel comprehensive enough? How much are they being paid? What if you need a bespoke solution?
Is there security for your claimants?
Did you make the right decision at your last renewal?

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