A major part of any insurance programme review will include the assessment of layering and reinsurance reviews. Again, there have been examples of overlining of insurance capacity and placements where decisions have been made more closely aligned to remuneration than achieving the best position for the Client.
As with the Broker review and Service Level Agreements, ikt is key that the Insured manage their relationship with key Insurers and, where appropriate, their reinsurers. Obtaining the best support from both areas will ensure the client maintains the strongest level of protection and avoids any shocks as markets turn and prices and coverages are restricted.
PB Risk Management has many years experience in working with Insurers and their reinsurance participation. This will allow us to independently support a Broker’s suggested placement and provide stakeholders with comfort that the decision has been made totally in their interests as well as protecting the relationship across the Insurer/ Broker markets.