Insurance services

1. Where can the company be threatened by a peril? Do the perils relate to:
   a) company property or property entrusted to it
   b) company personnel
   c) modus operandi or technological processes
   d) commercial turnover
   e) business partners
   f) products or services rendered
   g) data kept in the company
   h) persons outside the company.
   
2. Can the localised risk areas be effectively insured or is it necessary, or just more beneficial, to handle a given risk using non-insurance methods (e.g., quality improvements within the company, transfer of risk onto other subjects)?
3. Which insurance option(s) should be considered crucial in the company's particular situation, and which ones can the company do without? Where is the line between comfort and necessity - Is the comfort affordable?
4. Whenever insurance is indicated as a method of risk control, should it be a continuous insurance relationship maintained through repeated periods of time (general agreements), or it is more convenient to take out individual policies according to temporary needs (e.g., on purchase of vehicles, transport of goods, etc.)?
5. Must the company impose spending limits on insurance? If so, what is the maximum spending level or other criteria which should determine insurance expenditures?

1. Compile an inquiry in which to include the basic information regarding:
   a) insurance subject and worth to be covered,
   b) location and territory of insurance
   c) expected scope of insurance cover,
   d) desired system of insurance (e.g., fixed sum insurance, intrinsic value insurance, excess insurance, etc.),
   e) how the property or activity to be covered is secured against the occurrence of perils,
   f) history of claims and indemnities.
   
2. File the inquiry with pre-selected insurers whose know-how and capacity may grant the necessary cover. Be prepared to answer the insurers' questions and give more details on the risks to be covered.
3. Analyse and compare the offers submitted by insurers, paying special attention to:
   a) adequacy of proposed insurance cover
   b) terms and conditions of the insurance, especially the exclusions and limitations of the insurer's liability
   c) quotation of insurance premium
   d) claim handling procedures
   e) indemnity/compensation payout formula
   f) space for alterations.
   
4. Negotiate with selected insurers to tailor their offer to the needs and capabilities of your company.

1. Your company's ability to fulfil all the conditions for the insurance to be effective. This may concern the requirements for technical devices protecting property against damage or loss as well as prophylactics.
2. The financial credibility of the insurance companies involved.
3. The ability of the existing organisational structure of the potential insurer to provide efficient service, especially handling of claims in case of their expected high frequency and territorial dispersion.

1. Compliance of insurance terms and conditions with the company's profile, ensuring that none of the vital aspects of the company's operations, such as the specific nature of services, the use of leased property, employment of subcontractors, etc., are left outside the insurance programme due to general exclusions of the insurer's liability
2. Retention of the acceptable part of the risk within the company (deductibles, participation-in-loss formulas, justifiable curbing of insurance coverage and acceptance for a limitation of the insurer's liability) combined with an adequate reduction of the premium.
3. Adjustment of the sum insured to the claim calculation method, i.e. a system correlating the declared value of the insured property with the function to be fulfilled by the indemnity (e.g., allowing full replacement of the lost property or simply covering the demages).
4. Inclusion of additional provisions.

1. A dedicated unit working within the company, if it is justified by the volume of its insurance needs and the company has the required human resources.
2. A professional insurance broker.