Insurance Planning Study
Insurance Planning Study
An insurance planning study is required by all organizations to review their Risk Management strategies and then avail insurance covers etc.
An unbiased study by a third party help us in identifying & measuring risk as well as can save on insurance cost. The same study would be a helpful tool while negotiating for premium.
The scope of the study will include the following:
- Review of existing risk control measures and offering comments
- Identification of all major internal and external pure risks including the natural risks and analysis of the impact of above risks
- Rationalization of basic rate of premium and widening of covers
- Application of suitable clauses, warranties and conditions
- Identification of possible areas for refund of premium and suggestions regarding procedure for the same
- Applicability / eligibility of discounts in premium
- Selection of insurance coverage on the basis of risk analysis
- Providing guidelines for fixation of sum insured and illustrate the same on a selected equipment
- Evaluation of business interruption exposure due to identified risks
- Providing guidelines on documentation requirements, procedures for claims under various policies
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