Risk is a challenge that knows no boundaries
A Silent Review can ensure an insurance program remains competitively priced and relevant to a business as it and the landscape around it (such as changing regulation) changes over time. It will ensure a programme with multiple policies and renewal dates are streamlined in coverage and provided with one common renewal date.
When Should a Silent Review be requested?
A Silent Review is particularly useful when business circumstances change; such as:
- significant change in business circumstances
- change of regulations (GDPR, MIFD, AIFMD, PSD2, PCI, SMR),
- upgrading systems or operations,
- expanding, acquiring or selling.
Similarly, changes to claims trends may warrant a review. If the insurances have just been renewed, a Silent Review can provide a good peace of mind, and in some cases identify important coverage issues that were not addressed at the last renewal.
The Elmore Silent Review includes analysis of:
- Suitability of the coverage purchased to the business activities
- All relevant policy terms and conditions
- Adequacy of the sum insured, deductibles and premiums
- Specified limits and sub-limits for all insured risks
- Review of customer and 3rd party contract provisions
- Policy appropriateness in light of recent claims trends
- The deliverable of a Silent Review is a formal report, including a risk analysis (poor, fair, good, excellent) to indicate key recommendations.
Complete the form to claim your Silent Review and one of the team will call you back.