Insurance Information Centre

In simple terms, the key parts of our process can be broken down to

I. Your Past: You may be over-reserved for existing risks, meaning reserves can be released to safely support buying less future insurance

II. Your Future: You may be exempt from normally mandatory covers (e.g. employers’ liability)

III. Your Custom-Made Product: You can design your own insurance product to meet your strategic objectives and ask for bespoke product designs from new insurers

IV. Your Best Providers:There are thousands of insurance brokers and insurers – not just the limited panel of insurers your brokers may use, or your normal tenders may attract

V. Your Money: Your Premiums are often paid neither to your named broker nor the insurer, but to a third party (wholesale) broker; did you carry out appropriate Anti-Money Laundering (AML) checks? Furthermore, what is the security for your claimants?

VI. Your Review Process: Most clients do not have appropriate management information (MI) reports to assess whether they made the correct risk transfer decision, then repeated the (incorrect) decision at the following renewal.