insurance

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