A local broker was facing a challenge in securing a policy certificate from the Australian insurer in time to ensure their client did not lose the contract with their vendor in Australia. They were struggling to manage their client expectations. Our advisors guided them to secure a certificate of currency from the insurer which ascertains the continuity of the contract. The client was assured that this is one of many compliance documents required to be supplied and issued by the Insurer and would fulfil their contract requirements. This helped the broker retain their client’s faith and ensure their interests were addressed. We understand the importance of keeping clients happy and building trust.

• A large technology company was in a process of securing an insurance policy in Australia that would form a part of their global policy on renew. Their broker was unsure about how to go about it. The main concern was about appointing the right broker who would be compliant with the Brokers & Agents Act that mandates all funds be held in the broker’s trust account in Australia. They reached out to our advisors to seek guidance on selecting the right broker and ensuring the broker was capable of handling their clients request while maintaining transparency.

Our advisors are committed to providing valuable guidance on risk  management and insurance policies, especially when it comes to compliance with local laws and regulations. In this case, we helped the broker identify and connect with a trustworthy and compliant broker, we were able to get the policy issued as requested by the client thereby protecting both party interests. Our goal is to help our clients navigate complex insurance requirements and minimize risks by always being compliant with local regulations.

• A large energy company was seeking to include their Australian exposure in their master policy. However, they faced a challenge when asked to provide their claims record on company letterhead. The signatory for the company was unavailable to sign the document, causing delays and creating frustration for the client. The broker sought advice from our advisors to find an alternative solution. Our advisors explained the legal requirement for the claims information on company letterhead in Australia to prevent fraudulent claims and ensure authenticity and may be used as evidence in court if necessary. They guided the broker on proper procedures for submitting all necessary relevant claims information. The client was able to understand the importance of this requirement and provided the necessary documentation, resulting in a smoother policy procurement.

Conclusion –

Having an expert advisor who is familiar with the nuances of international markets can be extremely helpful in avoiding misunderstandings, frustrations and delays. Our advisors can proactively provide guidance on the specific documentation and procedures needed to comply with local laws and regulations in different jurisdictions, as well as explain the rationale behind certain requests or requirements. Additionally, our advisors can help bridge any communication gaps between the broker and their client, and ensure that both parties are fully aware of the expectations and requirements for a successful policy issuance process.

Our ultimate aim is to strengthen the broker-client relationship through trust and transparency, and our advisors are ready to provide the necessary expertise and support to achieve this. As a service provider, we understand the importance of providing you with relevant information to address the needs and concerns of your clients, and we are committed to helping you maintain their trust