Underwrite the Underwriter – Placing Hard Market Professional Indemnity Policies
Thu Apr 7 2022
Hard insurance markets are precisely that – they are HARD. There are of course many valid reasons that can impact and exasperate hard market conditions. Adverse loss activity; poor underwriting discipline and claims reserving practices; a departure of capital from the market; legislative changes and more. Nonetheless, be it for contractually mandated reasons or simply a desire to protect a business from risk; insurance buyers still need to procure insurance.
While trying market conditions do present many challenges, they also present an opportunity to reshape your approach to broking hard market business.
Aquarium Risk Consulting help facilitate this approach by supporting the Broker in telling a clients insurance ‘story’ in a comprehensive and targeted fashion. Their bespoke insurance buyer profiling hones in on each of the pertinent issues surrounding challenging insurance placements. This culminates in an underwriting package that is tailored to suit any given transaction. Aquarium help align all parties (buyer – broker – insurer) with a view to achieving a superior insurance outcome.
Aquarium Services for Brokers:
- Insurance Buyer Profiling and preparation of RFPs on both Annual & Project placements
- Sourcing of insurance capacity for ‘hard to place’ risks
- Evaluation of insurance programs and methodologies to mitigate costs
- Insurance placement structuring including coverage reviews and analysis
To learn more about how Aquarium Risk Consulting can support Brokers and insurance buyers alike, please visit their website or contact Jason Forsyth on email@example.com or (083) 206 0721.