Your Renewal – New Risks
Business circumstances change. Similarly, changes to claims trends may warrant a review. For peace of mind where the alignment of the policy protection to the activities of the business was not reviewed at the previous renewal, or if changes in business circumstances warrant it, we can perform a Challenge Review prior to a subsequent renewal.
The Elmore Challenge Review includes analysis of:
- Activities undertaken to suitable coverage purchased
- 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 Challenge Review is a formal report, including a risk analysis (poor, fair, good, excellent) to indicate key recommendations.
Two forms of Challenge Review are available
- 1 page snapshot overview of the entities insurance.
- No cost to undertake the review
- Limited in scope
- Typicall undertaken in 5 working days
- Full insurance due diligence-style audit report .
- Cost associated with Review.
- Detailed scope and assessment.
- Period can take between 3 and 4 weeks.
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