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