From our point of view, insurance solutions are never the goal, but merely a (possible) means of ensuring your business continuity. Nothing more, nothing less.
Not all risks need to be insured. That is nonsensical and a waste of money. Certain risks should be eliminated or avoided. Other risks, you can easily bear yourself. With such risks, the phenomenon of ‘insurance’ has no real added value. After a risk and insurance analysis has been carried out, the business risks have been identified and mapped. It is now up to you - with the support of your account manager - to decide how to deal with the now identified risks. In short, what risks do you regard as actual risks and to what extent? The formula ‘Risk = Probability x Scope’ forms the starting point here. For example, risks that have a small chance of occurring but with great consequences should probably be insured. Think of a huge fire. Eliminating or 100% preventing such an occurrence is often impossible.
It is really all about managing your risk costs. It is often assumed that insurance premiums are the only costs relating to risk management within a company. However, insurance premiums are only one of the five risk costs you will be dealing with.
Risk costs consist of:
- Uninsured damages;
- Uninsurable damages;
- Risk management costs/prevention;
- Insurance premiums
Risks you want to insure will be (internationally) purchased and actively maintained for you by our insurance specialists. Of course, at the most favourable premium.