For large companies, the decision to procure insurance is largely motivated by perceptions of capital efficiency, cost, convenience and access to risk management knowledge & services
For the majority of companies, however, commercial insurance protection provides essential support to the business and can even, in the case of large insurable losses, determine their ability to survive.
How effective are your insurance protections ? How do you know ?
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When was the insurance procurement strategy last reviewed – and why ? What changes, if any, were instigated ?
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Are your current insurance contracts clearly structured, is the content clearly drafted, and is the coverage clear ?
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How well do your company’s commercial insurance contracts fit together ?
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When did you last stress test the adequacy and quality of the company’s insurance programmes ?
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Are external stakeholder interests (eg: customers, suppliers, financiers, regulators …) effectively addressed ?