Global Insurance Management Questions & Answers

 

JLT Specialty’s dedicated Global Service team provides expertise and support to global clients across all sectors. 

The team answer a series of frequently asked questions. Contact us if you would like to discuss any of these questions and answers in more detail.

WHAT HAPPENS IF...


Your insurance broker will be able to advise you on what is legally required for your business operations, and what would be appropriate given the risk exposures and central insurance strategy.

Ask your insurance broker to do this for you as they will also ‘sense-check’ responses, and query any anomalies directly with the subsidiary. Common queries can be fed back to the head office to improve communication in the future.

Your insurance broker will be able to arrange a fronting tender in the country concerned using their knowledge of the local insurance markets capabilities.

Your insurance broker can undertake a stewardship review of the services and remuneration of each local broker, and collate responses from both local business units as well as the local brokers. This can be used as a KPI.

The local insurance broker will be given clear guidance on the overall strategy and global placements. They will be monitored on their ability to ensure the local business units adhere to these, whilst meeting local regulations.

Your insurance broker should advise you on any local regulatory requirements and understand the services needed to support the local business units. A recommendation can then be provided as to whether a local broker should be appointed - it is not necessary to have a broker in every country you operate in.

Your insurance broker will be able to advise you on what is legally required for your business operations, and what would be appropriate given the risk exposures and central insurance strategy.

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