The underwriters, reinsurers and captive managers require an accurate word picture of the assets to be insured to enable them to assess their exposure to risk and also to assess their exposures and retention limits in a definitive manner. Underwriting reports are most commonly provided for property (or ISR) insurance but can also be provided for public liability, product liability, machinery breakn adn construction risk insurance covers. RiskTech can provide a range of standard format Underwriting Reports that will provide:-
- Disclosure of material facts of the asset risks to be insured;
- Qualified material damage and business interruption loss estimates under normal, probable maximum and maximum foreseeable loss scenarios (property underwriting reports only);
- Insurance industry accepted and structured report format and information;
- Highlights of the client’s risk management activities; and
- Digital photo representation of the assets to be insured.
Some of the benefits of this process will include:
- Cost effective risk representation through a selection of formats designed to respond to the magnitude and complexity of the risk; and
- RiskTech’s credibility is its word. Their consultants are known and trusted in the local and international insurance marketplaces.