The Client

A recycling and resource recovery operation had experienced instability at its executive level. Given business expansion and a changing risk profile, incoming board members and senior finance executives sought an independent assessment of the insurance arrangements to determine their appropriateness.

Our Actions

Following briefings from the client’s executive and review of relevant documentation and strategy papers, Inscon prepared a detailed report addressing:

  • Insurer counterparty security exposures, analysing insurer participation and recognising rating agency levels;

  • Price competitiveness;

  • Appropriateness of coverage assessed policy by policy;

  • The basis of the client’s engagement with their broker;

  • Emerging risks in light of recent and upcoming expansion.

The Outcome

Our report identified;

  • Coverage gaps and issues requiring clarification;
  • Insurer selection issues requiring attention in light of the client’s changing needs;
  • Potential improvements in the formalisation of the broker engagement.

With the client’s agreement Inscon worked with their broker to correct the identified coverage issues and consider an insurer remarketing strategy.

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