Providing insurance consultancy services to clients to ascertain cost effectiveness of coverage and ensure adequacy of insurance policies.

Analyzing and assessing insurance market conditions and trends and presenting these to IIC's clients in overview reports.

Providing up-to-date reviews of insurance related new items including regulatory issues, major losses and results of adjudications and settlements.

Negotiating competitive terms and conditions, under the prevailing conditions of the international insurance market, always maximizing the benefits to the client.

Shouldering the task of Co-Coordinating claims handling, from initial reporting of a loss right through to final payment of adjust claims, thereby releasing the resources of the client for continuing normal activities with minimum disruption.

Controlling the manifold risks of projects and operating entities independently, with IIC technical risk management team, or in conjunction with the leading insurers/reinsurers. This is a valuable service which is being offered and, in some cases, required by leading insurance and reinsurance offices.

Trouble shooting problem-claims previously handled by the client directly with insurers or reinsures or through the co-ordination of others brokers.

Objectives and Responsibilities:

Our objectives and responsibilities are outlined as follow:
  • Pretender Submission Period
    After receiving the requested information International Insurance Consultants will start to draft the correct insurance quotation specification in line with the Insurance requirements and approach the approved Panel of underwriters to quote on equal basis and at the same time. The lowest cost achieved would then be factored into the tender price and once the particular conditions of the proposed quote is secured, would go into the market to firm up the quotes & solicit the most comprehensives and competitive Insurance Program.

  • Initial Advisory Services
    • Advice on the structure of the local markets and legislation affecting Insurance in the countries where our clients will be operational.
    • Advice on the use of local Insurers and / or Reinsures and the choice of suitable companies. This will include analysis of the market to ensure financial stability and flexibility towards outward Reinsurance to the International markets.
    • Advise on Political Risks associated with the country of operations and the extend to which these can viably be insured for the interest of all parties.
    • Develop a logical, consistent and cost effective strategy for the Insurance Programme, identifying options available and risks which may be difficult, costly or impossible to insure.
    • Liaise where necessary with the Insured’s legal or other advisers to achieve the above.
    • Provide premium cost estimates for budget purposes for the Insurance Programme.
    • Explain and justify the proposed Insurance arrangements with concerned parties and / or Insurance advisers and satisfy their respective concerns, whilst protecting our client interests at all times.

  • Placement Services
    • Assemble all relevant data and information on the operations.
    • Assist in preparation of a first class presentation of the Insurance Programme to the Insurance market, including detailed description of cover requirements.
    • Agree with our clients exact cover requirements, limits and deductible levels for the various covers, reflecting the needs of all parties, and agree draft policy wordings.
    • Obtain best possible quotations from the agreed markets.
    • Analyze these quotations and agree the lead markets and terms at which placements to proceed.
    • Fully placing all required Insurances with acceptable Insurers / Reinsures.
    • Finalize Policy wordings, Reinsurance conditions and Local Insurers terms.
    • Issue the necessary evidence of Insurance covers.

  • Post Placement Services
    • Ensure correct issue of all Policy documentation.
    • Follow up any policy assignment or other issues required.
    • Provide full servicing and managements of all claims.
    • Receive proposals from Loss Adjusters and negotiate to improve for any claims which arise in the respective countries.
    • Issue an Insurance manual and claims procedure guide for use by all Insured parties.
    • Ensure arrangements in place for recording, progressing and settling claims and maintaining up to date claims bordereaux.
    • Advice Insurers of any changes and negotiate any amendments, increases, and extensions to the Insurances.
    • Ensure all Insurance are maintained in effect until cessation of risk.
    • Advice on any relevant market changes or developments, which occur during the course of the services.

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