International Capabilities
In a global economy an effective, long-term, global insurance program is a critical element in addressing risk. Our network of independently owned, international insurance operations provides access to all major worldwide insurance markets.
Our strategic process for constructing a global risk management program is to embrace and build upon the client’s existing risk management philosophy and objectives. This includes taking into consideration and being sensitive to the requirements of the overseas operating entity as well as the local regulatory environment. Our objectives in this process are to:
- Enhance and complement your growth worldwide
- Construct a cohesive program of insurance built for flexibility allowing
for future expansion
- Provide access to independent foreign service partners at all your major
overseas locations
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To achieve these objectives we review your long-term growth objectives and worldwide organizational structure in collaboration with you and determine the best risk management strategy. As part of this analysis, your current insurance program is reviewed to identity gaps in coverage or “over-buying“ of insurance and to ensure legal compliance within the jurisdictions where you operate.
Our global service partners are experienced at working with multinational corporations. Their expertise in local insurance practices, market access, and market leverage provides our clients effective local representation. Like The Plexus Groupe, our international partners are committed to high standards of excellence.
As part of our marketing strategy, if we approach overseas markets in London (Lloyds) or Europe, we will consult with you and recommend a local Plexus partner equipped to achieve a successful outcome. This outsourced approach to local market access has many benefits including a high degree of flexibility and accountability.
Once the risk is evaluated and the global partners are selected, we utilize an integrative approach for the implementation of the global risk management program. Potential structure solutions may include:
- Procuring locally admitted or non-admitted insurance policies
- Utilizing a “Difference in Conditions” Insurance product in conjunction with a Foreign General Liability or Property Program, Controlled Master Programs or Global Programs
- Employing fronting policies backed by facultative reinsurance in territories where required
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At Plexus we understand global risks and we have the necessary expertise and resources to facilitate your growth overseas by providing a solid foundation of insurance coverage and other value-added services, commensurate with your risk management principles.
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