How To Manage Construction Risk
|
|
- Justin Davidson
- 3 years ago
- Views:
Transcription
1 Construction Risk and Insurance solutions Aon Latvia Jaap Veenenbos, managing director Risk Consulting & Construction Aon Central Eastern Europe
2 Content 1. Introduction to Aon Construction 2. Aon Risk Based approach, crafting the right solution 3. Typical construction insurance 4. Innovative solutions for construction risk Jaap Veenenbos Managing director Risk Consulting & Construction Aon Central Eastern Europe Aigars Milts Country manager Aon Latvia 2
3 Aon plc. Aon s three main business units Aon plc. Aon Risk Solutions Retail Brokerage Risk Assessment and Advisory Employee Benefits Benefits Administration Captive Management Affinity Programs Premium Finance Claims Advocacy and Administration Select Personal Lines Aon Benfield Treaty reinsurance brokerage Facultative reinsurance brokerage Capital Markets Financial Advisory Analytics and Technical Services Claims Management Aon Hewitt Human Capital Consulting Executive & Broad Based Compensation Total Rewards Employee Communications, Engagement & New Media Solutions Human Resource Business Processing Outsourcing 4
4 Aon Baltics Aon Baltic Management Team CEO Aon Lithuania Aon Latvia Aon Estonia Pan-Baltic Business Lines Accounting and Finances Support functions The Largest Insurance broker in Baltic States The Head office held in Vilnius, branches are in Kaunas, Alytus, Klaipeda and Riga, Tallinn 104 employees The total amount of insurance premiums written in year 2013 reached 40.4 MEUR Aon Baltic Latvian Branch 13 employees high caliber professionals Written premiums in year MEUR Our Mission: To deliver superior client value! 5
5 Aon Construction Broker for 50 % of top 50 global contractors global team of construction specialist Advisor on 475 PPP projects globally Global Construction annual Premium total million $ Europe 390 million $ UK 200 million $ CEE 20 million $ 6
6 Aon CEE Risk Consulting & Construction team CEE, dedicated construction team, advising: Principals (public sector, private sector) Contractors Developers Financiers Industry sectors: Infrastructure (motor roads, rail roads, airports) Power generation (coal, gas, nuclear, wind, solar, thermal) On shore energy (gas distribution, electrical grid) Utility buildings (manufacturing plant new builts) Commercial real estate (high rises, amusement parks) 7
7 What Is the Risk?! 8
8 Expect the unexpected, in the old days 9
9 Expect the unexpected, nowadays Paris airport France Metro drilling M6 Motorroad concession Hungary car deck restaurant 10
10 Content 1. Introduction to Aon Construction 2. Aon Risk Based approach, crafting the right solution 3. Typical construction insurance 4. Innovative solutions for construction risk 11
11 Not all construction risks can be insured Non insurable risks high Reduce probability via preventive measures Remain in control over cause Partially insurable risks Show stoppers Reduce both probability via prevention and impact via repression or alternatives low Acceptable risk Reduce impact Insurable risks Probability Retain (self finance) Cost of risk in budget Anticipate on risk, ensure conditions Insure small impact 12 catastrophic
12 Risk Management Risk Allocation Risk Identification / Assessment Risk Quantification Risk Allocation Not Transferable Transferable On balance sheet Balance sheet protection Bonds Derivatives Insurance Products Financing ART JV / Third Party Transfer 13
13 Aon Risk Based Approach Contractor/Principle expertise Risk Analysis Aon expertise Project specific risk profile Max loss exposures Risk mitigation (contract, management) Limits, sub limits, deductibles Prelimanary design construction all risk policy Final design construction all risk policy 14
14 Aon Risk Based Approach Crafting the right policy-coverage Understanding project risks Prelimanary design Approach CAR insurers WW Assess offerings Advice client Negotiate and define final wording Rehearse until Lowest Cost of Risk solution Close covers 15
15 Insurance Standard build contract Investor ROI Principal Program of requirements Architect Engineer design General Contractor Project management Advisors Sub contracting Sub contracting Sub contractorr Sub contractor supplier Supplier 16
16 Categories of risk Property damage Third party damage Construction Direct financial loss Design Assets Revenues Continuity Liabilities 17 Legal Contractual Legislation 17
17 Aon Risk Based Approach We review following documentation: project information memorandum project layouts specifications for related works geotechnical report environmental report time schedule project structure: parties involved key project contracts (or drafts) with: Employer, Designers, Sub-contractors, Suppliers, others insurance requirements of: the Employer, financial institutions e.g. banks (if any), others copies of all insurance policies related to the Project 18
18 Aon Risk Based Approach 2. Risk & Insurance Strategy Risk and insurance strategy design, including risk and insurance allocation Insurance costs estimation / e.g. for tender purposes Advisory in negotiations with employers, designers, sub-contractors, suppliers etc. (hereinafter referred to as partners ) related to risk and insurance Advisory in designing Chapters Risk & Insurance in tendering and contracting the partners Review and comments, concerning insurance requirements provided by third parties eg. employers, subcontractors Aon Risk Solutions 19
19 Aon Risk Based Approach 3. Insurance Broking Services Designing complex insurance programs Obtaining insurance proposals from the insurance markets Obtaining insurance bonds proposals (bid, performance, maintenance, advance payment) from the insurance markets Placement & daily handling of insurance and bonds programs Insurance and claims handling procedures design and implementation Preparation of Insurance Manual Claims handling: site surveys if necessary, assistance and support in preparing documentation, claims letters, negotiations with the insurance companies, etc Insurance trainings 20
20 Content 1. Introduction to Aon Construction 2. Aon Risk Based approach, crafting the right solution 3. Typical construction insurance 4. Innovative solutions for construction risk 21
21 Main classes of insurance 1/2 Asset Insurances Revenue Insurances Liability Insurances 22
22 Main classes of insurance 2/2 Peripheral Insurances Statutory Insurances 23
23 Construction allrisk, true allrisk: Loss of, or physical damage to, interest insured, Whatever cause (closest to real all risk) Including: faulty design, faulty material and faulty workship, including the fault itself Maintenance cover based on full quarantee up to 3 years (exceeding by far, standard extended or visit maintenance) Triggers Delay in Start Up cover (compensates revenu losses) 24
24 Insurance Who should take out insurance? ROI Investor Principal Owner Engineer design Program of requirements General Contractor Architect Project management Contractor Advisors Sub contracting Sub contracting Sub contractorr Sub contractor supplier Supplier 25
25 Contractor controlled versus owner controlled 7/7 Program Features OCIP CCIP 1. Insurance Policy Control Owner / Developer - Flexibility Multiple contractors Low flexibility 2. Policy Administration Aon Centralized Contractors own insurance agencies? 3. Policy Wording Manuscripted broad-form policy All Stakeholders interests Standard wording designed for the contractor keep the costs down Contractor s interests 4. Insurer Selection & Security Owner Selected Contractor Controlled 5. Uniformity of Coverage 6. Delay in completion coverage 7. Phased completion and early generation coverage 8. Access to Insurance market Consistent Avoids cross party disputes Available Aids ability to finance Broad CAR expands coverage Yes Interfacing issues between construction and operation are addressed Streamlined consolidated approach efficiently utilizes market capacity Inconsistent among contractors Unusual No financial interest Confidentiality issues No Construction phase only Individual approach restricts available market capacity 9. Insurance Premium Cost Leveraged purchasing generates savings Profit center for contractors and their related insurance agencies and insurance companies 10. Premium Payment Owner directly Full Transparency Owner pays through contractors 26 Minimum transparency 2 6
26 Content 1. Introduction to Aon Construction 2. Aon Risk Based approach, crafting the right solution 3. Typical construction insurance 4. Innovative solutions for construction risk 27
27 Solutions per Construction Sector Investors and Principals Contractors Developers and Project Managers Architects, Engineers Banks, lenders Other parties 28
28 An innovative solution covering all parties involved Delayed Start Up / Business Interruption following damage / pure financial loss coverage, Aon Construct Integrated coverage Constructon All Risk Material Damage Erection All Risk Leg3/De5 Las Palm Directors & General Third Offciers Party Liability Environmental Liability Liability Environmental Damage Planning/Design Liability All parties at first party basis local fronting coverage 29
29 Contact details Aigars Milts Aon Baltic Latvia Branch Country manager T: M: Jaap Veenenbos MSc. Managing director Risk Consulting & Construction Aon Risk Solutions CEE, Russia and CIS jaap.veenenbos@aon.nl Office: Paalbergweg AG Amsterdam, the Netherlands 30
Captive & Insurance Management
Aon Risk Solutions Global Risk Consulting Captive & Insurance Management Location of captive parent company 500+ captives 250-500 captives 51-249 captives 10-50 captives
More informationModern insurance solutions protect innovative technologies RENEWABLE ENERGY
Modern insurance solutions protect innovative technologies RENEWABLE ENERGY Your projects secure the future we ensure they happen Focus on the renewable energy sector has never been higher. Due to the
More informationTHE LATEST TECHNOLOGY AN EMERGING RISK PROFILE THE WILLIS RENEWABLE ENERGY AND SOLAR CONSTRUCTION TEAMS
SOLAR POWER THE LATEST TECHNOLOGY AN EMERGING RISK PROFILE RISK MANAGEMENT EXCELLENCE THE WILLIS RENEWABLE ENERGY AND SOLAR CONSTRUCTION TEAMS Willis 2 THE SUN IS RISING ON THE SOLAR POWER ALTERNATIVE
More informationHealth Care Practice. An Integrated Approach to Meet the Financial and Risk-Related Needs of Health Care Organizations. Aon Risk Solutions
Aon Risk Solutions Health Care Practice An Integrated Approach to Meet the Financial and Risk-Related Needs of Health Care Organizations Risk. Reinsurance. Human Resources. Empower Results 1. Solutions
More informationGlobal Logistics Practice. World-Class Global Logistics Risk Management. Aon Risk Solutions Aon Broking
Global Logistics Practice World-Class Global Logistics Risk Management Risk. Reinsurance. Human Resources. Empower Results 1 What is Logistics? Logistics refers to the part of the supply chain that plans,
More informationAon Risk Solutions. Trucking Practice. Specialized Services for the Nation s Road Transportation Industry. Risk. Reinsurance. Human Resources.
Aon Risk Solutions Trucking Practice Specialized Services for the Nation s Road Transportation Industry Risk. Reinsurance. Human Resources. 1 Solutions Designed to Address the Challenges in the Road Transportation
More informationProject Finance & Insurance. Christopher Cook November 2012
Project Finance & Insurance Christopher Cook November 2012 JLT SpecialtyLimited Financiers Insurance Due Diligence Team - Jardine Lloyd Thompson Group largest non USA insurance broking & consultancy globally
More informationLife Catastrophe Benchmarking Study 2013
Life Catastrophe Benchmarking Study 2013 Global Comparison of Life Catastrophe Covers October 2013 Empower Results Table of Contents Scope of the Study 3 Study Participants 4 Useful background on participants
More informationPPP IN INFRASTRUCTURE RESOURCE CENTER
1 General Insurance is an area of project finance that is often left to the end of negotiations, with little attention given to it. Availability of insurance, levels of cover and deductibles will, however,
More informationAon Risk Solutions (에이온의 리스크 처리)
Aon Risk Solutions (에이온의 리스크 처리) Investment Opportunities in California Insurance Compliance and Risk Advisory (캘리포니아에 투자 기회 보험규정준수 및 리스크 자문) Presented By: Ken Caldwell, Senior Executive Vice President,
More informationAon Risk Solutions. Aon Trade Credit. Unlocking the Value of Trade Credit Insurance
Aon Risk Solutions Aon Trade Credit Unlocking the Value of Trade Credit Insurance Trade Credit and the Global Economy If your business crosses borders, consider these questions: Do you regularly sell to
More informationJLT Mining. Utilising our expert knowledge of the mining industry and through understanding your individual business, JLT Mining can deliver:
Mining Jardine Lloyd Thompson is one of the world s largest providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT s client proposition is built
More informationInsurance solutions for construction and erection projects
Aon Risk Solutions Construction Insurance solutions for construction and erection projects Comprehensive cover for your complex construction projects. Risk. Reinsurance. Human Resources. Safeguarding your
More informationSUBJECT: APPROVAL OF OWNER DATE: March 11, 2004 CONTROLLED INSURANCE PROGRAM FOR AIRPORT MASTER PLAN PROJECTS
COUNCIL AGENDA: 03/16/04 ITEM: TO: HONORABLE MAYOR AND CITY COUNCIL FROM: Scott P. Johnson Ralph Tonseth SUBJECT: APPROVAL OF OWNER DATE: CONTROLLED INSURANCE PROGRAM FOR AIRPORT MASTER PLAN PROJECTS Approved
More informationSPECIALIST INSURANCE SERVICES
SPECIALIST INSURANCE SERVICES energy WWW.PRICEFORBES.COM contents about us...5 our approach...6 five steps to service delivery...8 upstream & Mid-stream operations...13 downstream operations...14 claims...15
More informationAon Risk Solutions. Life Sciences Practice. Providing End-to-End Solutions for Life Sciences Companies. Risk. Reinsurance. Human Resources.
Aon Risk Solutions Life Sciences Practice Providing End-to-End Solutions for Life Sciences Companies Risk. Reinsurance. Human Resources. 1 The Life Cycle Risk Continuum An overview of industry-specific
More informationUK Healthcare Team RISK AND INSURANCE SOLUTIONS FOR THE HEALTHCARE INDUSTRY
UK Healthcare Team RISK AND INSURANCE SOLUTIONS FOR THE HEALTHCARE INDUSTRY Healthcare providers need a strategic partner with an in-depth understanding of the complexities of the healthcare industry.
More informationConstruction Webinar October 16, 2012. Stewart Roberts Claims Manager
Construction Webinar October 16, 2012 Stewart Roberts Claims Manager CURIE Property Policy 4.3 PROPERTY EXCLUDED This policy does not apply to: a) motor vehicles licensed for regular highway use b) New
More informationReal Estate Practice. Fact-Based Solutions for Real Estate Risk Management. Risk. Reinsurance. Human Resources.
Aon Risk Solutions Real Estate Practice Real Estate Practice Fact-Based Solutions for Real Estate Risk Management Risk. Reinsurance. Human Resources. Today s Real Estate Risk Trends and Priorities Our
More informationJLT Specialty Limited is a member of the Jardine Lloyd Thompson Group of companies. Jardine Lloyd Thompson Group plc is an international group of
JLT Specialty Limited is a member of the Jardine Lloyd Thompson Group of companies. Jardine Lloyd Thompson Group plc is an international group of Risk Specialists and Employee Benefits Consultants. Listed
More informationClient Engagement and Compensation Guide
Aon Risk Solutions Client Engagement and Compensation Guide Risk. Reinsurance. Human Resources. Introduction The aim of this document is to provide a high-level summary of the work that Aon Risk Solutions
More informationAn ISO 9001 : 2008 Certified Company WINNING AND SUSTAINING CUSTOMER TRUST
An ISO 9001 : 2008 Certified Company WINNING AND SUSTAINING CUSTOMER TRUST. 15 YEARS OF INSURANCE BROKING WELCOME TO INDIA INSURE India s first Licensed Insurance Broker with a Team of 150 professionals
More informationBARRY F. LORENZETTI MISSION STATEMENT A MESSAGE FROM THE PRESIDENT
15 MISSION STATEMENT To be the most professional, client-oriented and innovative insurance brokerage and consulting firm in Canada, through a disciplined and dedicated team approach. A MESSAGE FROM THE
More informationTECHNICAL & ENGINEERING INSURANCE ACE TECHNICAL LINES
TECHNICAL & ENGINEERING INSURANCE ACE TECHNICAL LINES Companies today are looking for an insurer who can cater for their whole range of technical or engineering insurance requirements, from machinery breakdown,
More informationProperty Insurance Market Report United States. Summary and Forecast Q1 14
Property Insurance Market Report United States Summary and Forecast Q1 14 Property Summary Property underwriters enjoyed a profitable 2013 due to lower losses and higher rates, which followed two-plus
More informationFinancing PPPs: Project Finance June 2006
Financing PPPs: Project Finance June 2006 Index Section I. Section II. Section III. Project Finance Spanish Market Advantages Risk Matrix P. 2 Section I Project Finance Project Finance Definition Definition:
More informationTHE LAW OF BIOMASS Setting Up Shop: Design, Engineering, and Construction of Biomass Projects
THE LAW OF BIOMASS Setting Up Shop: Design, Engineering, and Construction of Biomass Projects Karl F. Oles Stoel Rives LLP 600 University Street, Suite 3600 Seattle, WA 98101-4109 206-386-7535 kfoles@stoel.com
More informationGENERATING VALUE POWERING REVENUE A PARTNER IN SUCCESS: THE WILLIS UTILITIES PRACTICE
POWER GENERATION GENERATING VALUE POWERING REVENUE A PARTNER IN SUCCESS: THE WILLIS UTILITIES PRACTICE Willis 2 When your generation assets generate your revenue, you need to be sure those assets are properly
More informationDefinition of Public Interest Entities (PIEs) in Europe
Definition of Public Interest Entities (PIEs) in Europe FEE Survey October 2014 This document has been prepared by FEE to the best of its knowledge and ability to ensure that it is accurate and complete.
More informationRenewable Energy Insurance When You Need Specialist Advice
Renewable Energy Insurance When You Need Specialist Advice The Renewable Energy Industry is diverse and fast evolving, however, with advances in technology comes new risk. Insurance for the renewables
More information#21 MEMORANDUM PERSONNEL DEPARTMENT
To: John C. Phillips, City Manager #21 MEMORANDUM PERSONNEL DEPARTMENT Subject: Liability Insurance Program for 2007/2008 Date: April 19, 2007 The City of Rock Island is entering its thirteenth year of
More informationJLT Mining. The Canadian economy is, in part, driven by a robust and sophisticated Mining Industry.
Mining Jardine Lloyd Thompson (JLT) is an international group of Risk Specialists and Employee Benefits Consultants and one of the largest companies of its type in the world. We offer a distinctive choice
More informationSOLVING THE RISK MANAGEMENT NEEDS OF THE NUCLEAR REVIVAL
SOLVING THE RISK MANAGEMENT NEEDS OF THE NUCLEAR REVIVAL REVIVING THE NUCLEAR POWER OPTION Satisfying our ever-growing demand for electricity and protecting air quality to minimize global warming are dual
More information12/14/2015 HOT TOPICS IN MULTI-USE BUILDINGS: INSURANCE, CONSTRUCTION AND DEVELOPMENT INTRODUCTION AND OVERVIEW
HOT TOPICS IN MULTI-USE BUILDINGS: INSURANCE, CONSTRUCTION AND DEVELOPMENT Philip K. Glick, CPCU, RPLU Two Liberty Place 50 S. 16 th Street, Suite 3600 Philadelphia, PA 19102 P: 267-702-1374 C: 610-551-4734
More informationHOT TOPICS IN MULTI-USE BUILDINGS: INSURANCE, CONSTRUCTION AND DEVELOPMENT
HOT TOPICS IN MULTI-USE BUILDINGS: INSURANCE, CONSTRUCTION AND DEVELOPMENT Philip K. Glick, CPCU, RPLU Two Liberty Place 50 S. 16 th Street, Suite 3600 Philadelphia, PA 19102 P: 267-702-1374 C: 610-551-4734
More informationMANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1Q/2015 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300 Fax:
More informationUBS Global Financials Conference
UBS Global Financials Conference George Culmer, Group CFO Simon Lee, CEO International 11 May 21 AGENDA Overview George Culmer, CFO UK International Simon Lee, CEO International Emerging Markets Wrap up
More informationCONSTRUCTION RISK MANAGEMENT. TABLE of CONTENTS:
CONSTRUCTION RISK MANAGEMENT TABLE of CONTENTS: 1. Introduction 2 2. Project Start Up Risk Exposure Analysis 3 3. Insurance 5 4. Additional Advice 8 5. Bonding 9 6. Subcontractor Default Insurance 11 1
More informationTHE WILLIS UTILITIES PRACTICE
THE WILLIS UTILITIES PRACTICE UTILITIES: INDISPENSABLE RISK: UNAVOIDABLE THE RIGHT RISK PARTNER: INVALUABLE THE WILLIS UTILITIES PRACTICE Willis 2 POWER As the utility industry adopts strategies that emphasize
More informationThe International Operating and Client Servicing Procedures are divided into the following sections:
INTRODUCING BUSINESS Section : Introducing Business Page : 1 of 22 The WBN International Operating and Client Servicing manual has been prepared by and for the members of Worldwide Broker Network. It provides
More informationInsurance and the Construction Failure
Insurance and the Construction Failure 18 th Annual Construction SuperConference December 12, 2003 San Francisco, California James D. Hollyday hollydaj@pepperlaw.com 1 Introduction 1. Contract Drafting
More informationREGULATORY BOTTLENECKS/BARRIERS TO TRADE IN INSURANCE SERVICES THE ZAMBIAN EXPERIENCE
REGULATORY BOTTLENECKS/BARRIERS TO TRADE IN INSURANCE SERVICES THE ZAMBIAN EXPERIENCE OUTLINE OF THE PRESENTATION Introduction The Zambian Insurance Market Regulatory Bottleneck/Barriers to Trade in Insurance
More informationFeedstock Supply Chain Insurance
Feedstock Supply Chain Insurance Feedstock supply chain management Innovation and adaptation are key requirements for successful businesses, as developers, investors and landowners seek alternative ways
More informationBonding for Contractors. Barrie Construction Association September 17, 2015
Bonding for Contractors Barrie Construction Association September 17, 2015 1 Topics What do bonds do? How does a bond benefit you? How do you get a bond? What are the information requirements? What is
More informationMANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1-2Q/2015 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300
More informationA tailored approach to risk management ENERGY PRACTICE
ENERGY PRACTICE A tailored approach to risk management Insurance Brokerage Benefits & Retirement Consulting Claims Administration & Advocacy Fiduciary Advisors Alternative Risk Program & Administration
More informationAXIS PRO Application for Design Professional Liability Insurance
IMPORTANT NOTICE AXIS PRO Application for Design Professional Liability Insurance This is an application for a policy, which if issued, will be on a claims made and reported basis and covers only claims
More informationDAVID WILLIAM BLACKETT
DAVID WILLIAM BLACKETT 222/1 Georgina Street, NEWTOWN NSW 2042 0417 235 634 david@risktransfer.com.au INSIGHTFUL GENERAL INSURANCE PROFESSIONAL David is a versatile, results-orientated general insurance
More informationBONDING AMAN UNION. November 21 st, 2012. Daniel Stausberg. Atradius Re
BONDING AMAN UNION November 21 st, 2012 Daniel Stausberg Atradius Re 0 Bonds Presentation - Agenda Introduction 1 - Overview Global Bonding Market 2 - Products 3 - Characteristics 4 - Atradius Re s expertise
More informationMANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1-3Q/2014 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300
More informationConstruction Liability Overview
Construction Liability Overview Insuring Construction Risks What: Insurance Requirements Who: Owners, General Contractors, Subcontractors When: Prior to Commencement of Work What: Insurance Requirements
More informationSurety Bonding Solutions for Risk Management GFOABC May 31, 2012, Kelowna
Surety Bonding Solutions for Risk Management GFOABC May 31, 2012, Kelowna Introduction: Surety Association of Canada National & Regional Presence Your bonding resource Membership: Surety (Bonding) Companies
More informationWILLIS RETAIL PRACTICE ADVICE AND PROTECTION FOR THE RETAIL SECTOR
WILLIS RETAIL PRACTICE ADVICE AND PROTECTION FOR THE RETAIL SECTOR CUSTOMER RELATIONSHIPS. BRAND. REPUTATION. PROFIT MARGIN. PROFIT MARGIN. AS A RETAILER YOU WORK HARD TO GROW THEM - AS AN INSURANCE AND
More informationMANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1-4Q/2011 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300
More informationEmployee Benefits Panel, October 6, 2015 PROFESSION INNOVATION DIVERSITY
Employee Benefits Panel, October 6, 2015 PROFESSION INNOVATION DIVERSITY Moderator and Speakers Sabrina Hartusch: Global Head of Insurance, Triumph, Switzerland; president of SIRM Paolo Marini: Global
More informationTABLE OF CONTENTS INTRODUCTION 1. CHAPTER ONE - RISK MANAGEMENT 1.1 Overview 4
TABLE OF CONTENTS INTRODUCTION 1 CHAPTER ONE - RISK MANAGEMENT 1.1 Overview 4 1.1.1 Risk Management Defined 5 1.1.2 Why Manage Risk? 6 1.1.3 Who Should Be Responsible for Managing Risk? 7 1.1.4 Risk Management
More informationSub-section Content. 1 Formalities - Post title: Risk Consultant - Reports to: Head of Group Risk - Division: xxx - Location: xxx
Sub-section Content 1 Formalities - Post title: Risk Consultant - Reports to: Head of Group Risk - Division: xxx - Location: xxx 2 Job Purpose - To support the implementation of an Enterprise Risk Management
More informationThe River Devoll Project
EVN Hydropower Development in Albania The River Devoll Project Dr. Michael Laengle, CFO Agenda > EVN Overview and strategy > Albania Electricity market in SEE > The River Devoll project 2 Company profile
More informationCross Border Solutions
Allianz Insurance plc Cross Border Solutions Your guide to cross border solutions with Allianz For intermediary use only ALLIANZ The world from your doorstep Territories covered Allianz & AGCS Offices
More informationHolman Fenwick Willan CONSTRUCTION CAPABILITY
Holman Fenwick Willan CONSTRUCTION CAPABILITY WHY CHOOSE HFW FOR YOUR NEEDS IN CONSTRUCTION? HFW s construction law team is one of the largest specialist international groups in the market. The partners
More informationINTERIM REPORT 1Q/2010
SE SAMPO LIFE INSURANCE BALTIC INTERIM REPORT 1Q/2010 Business name: SE SAMPO LIFE INSURANCE BALTIC Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300 Fax: 6812
More information2014-15 Property and Liability Insurance Program
A&I 12/18/15 2014-15 Property and Liability Insurance Program The Risk Management department coordinates the University s comprehensive risk financing program which includes the purchase of commercial
More informationYour Partner in International Trade, Investment & Structured Finance. Aon Trade Credit Asia
Your Partner in International Trade, Investment & Structured Finance The ever-changing financial and political landscape makes it impossible to predict the future. Our culture encourages us to aggressively
More informationArticle: Nuts & Bolts of Modern Wrap-Up Liability Insurance by Theodore L. Senet, Esq.
Article: Nuts & Bolts of Modern Wrap-Up Liability Insurance by Theodore L. Senet, Esq. After years of hard learned lessons, your company has finally mastered the purchasing of insurance for your construction
More information1. Name of Applicant: (If Partnership or Corporation, show firm) 2. Address: Street City State Zip Code 3. Addresses of all Branches Offices:
ADMIRAL INSURANCE COMPANY 6455 East Johns Crossing, Suite 240 Duluth, GA 30097 Phone: 770-476-1561 Fax: 770-418-9597 Internet: http://www.admiralins.com APPLICATION FOR ARCHITECTS AND ENGINEERS PROFESSIONAL
More informationINSURANCE SOLUTIONS SPECIALTY CONSTRUCTION
CONSTRUCTION INSURANCE SOLUTIONS There are many traditional insurance solutions available, offered on either an annual basis or project specific basis that cover select parties or provide cover for all
More informationRIGA Anete Rubene, attorney-at-law Tel: +371 6 7365 000 Email: anete.rubene@sorainen.lv
INSURANCE BALTIC LEGAL UPDATE www.sorainen.com No. 5 Spring 2007 Key insurance specialists at Sorainen Law Offices: TALLINN Andrus Kattel, attorney-at-law Tel: +372 6400 900 Email: andrus.kattel@sorainen.ee
More informationGALLAGHER FOOD & AGRIBUSINESS. Risk Management Solutions
GALLAGHER FOOD & AGRIBUSINESS Risk Management Solutions We have the food and agribusiness expertise you need; from field to fork. The Food and Agribusiness industries are vital to the viability and sustenance
More informationColorado Municipal League
Recovery Colorado Municipal League Comprehensive Audit Of Municipal Christopher Mosley, Esq. I. Introduction A. Background Chris Mosley/Sherman & Howard Recovery Group B. Scope Of Presentation 1. General
More informationThe Use of Controlled Insurance Programs as a Risk Management Alternative on Construction Projects
The Use of Controlled Insurance Programs as a Risk Management Alternative on Construction Projects J. Mark Taylor, PhD, JD Auburn University Auburn, AL This paper discusses the use of controlled insurance
More informationDeconstruc*ng Construc*on Coverage: What on Earth Do Construc*on Policies Cover?
Deconstruc*ng Construc*on Coverage: What on Earth Do Construc*on Policies Cover? (SESSION CODE LGL003) SPEAKERS: Peter D. Laun, Esq., Partner, Jones Day David Marino, Executive Vice President, Aon Risk
More informationBusiness-critical Insurance
Business-critical Insurance Identifying those insurances that support the business and its strategy Guide 2015 Contents Introduction... 4 Categories of insurance... 5 Determining which insurance covers
More informationBuilding a Multinational Insurance Program: When, Why and How
Multinational Programs: Building a Multinational Insurance Program: When, Why and How David Valzania Head of AIG Multinational Americas 1.617.330.4419 david.valzania@aig.com www.aig.com/multinational WWW.CHICAGOLANDRISKFORUM.ORG
More informationOperational Companies VAT Indirect Taxes. Why Luxembourg: VAT advantages for commercial companies*
Operational Companies VAT Indirect Taxes Why : VAT advantages for commercial companies* Why : VAT advantages for commercial companies as an international decision-making, financing or distribution hub:
More informationGLOBAL SPECIALTY LINES GLOBAL EXPERTISE, DELIVERED LOCALLY.
GLOBAL SPECIALTY LINES GLOBAL EXPERTISE, DELIVERED LOCALLY. 02 Global expertise, delivered locally. introducing rsa RSA is one of the world s leading multinational quoted insurance groups. The services
More informationMANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1Q/2012 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300 Fax:
More informationWillis China Willis Pudong Insurance Broker Co., Ltd Introduction and Overview
Willis China Willis Pudong Insurance Broker Co., Ltd Introduction and Overvie Click Here to Enter Expertise ith Local Knoledge and Delivery Overvie Overvie Our Teams Our Netork Facts at a Glance Willis
More informationPage 1. Private Client Services
Page 1 Private Client Services Frank Crystal & Company Private Client Services Presented to: Wealth Protection Workshop San Francisco, CA October 9, 2009 Presented by: Mary Gust Managing Director Frank
More informationSchedule 12 - Insurances
RFP Version There are two parts to this Schedule 12: Part A Insurances applicable to the D&C Phase; and Part B Insurances during the O&M Phase. [State Note: The State in its discretion may procure any
More informationNasdaq Baltic Market COMPANY PROFILE FOR SUCCESSFUL BOND ISSUE
Nasdaq Baltic Market COMPANY PROFILE FOR SUCCESSFUL BOND ISSUE FOREWORD For fast growing companies seeking to raise capital, a bond issue can be one way to fund its growth. In the long run, a financing
More informationAfter major construction
Anderson Kill & Olick, P.C. REAL ESTATE & CONSTRUCTION A D V I S O R www.andersonkill.com Summer 2012 Ten Tips for Pursuing Insurance and Bond Claims After Construction Accidents By Finley Harckham Finley
More information12 Considerations for Managing Foreign Supplier Risk
12 Considerations for Managing Foreign Supplier Risk November 2014 Lockton Companies A growing number of manufacturers over the past VINCE GAFFIGAN, CPA EVP, Director, Risk Consulting Risk Management Services
More informationThe Delaware Advantage
October, 2012 The Delaware Advantage Flexible and Modern Business Entity Statutes; Respected Courts; Exceptional Service; Stable Environment ; Significant Case Law Decisions; and Unsurpassed Corporate
More informationHow To Get A Good Deal On Insurance In Korea
Our specialist insurance services for Property risks About Us 1 Our Service 2 Manufacturing and Process Industries 3 Airports and Ports 4 Agricultural Industries 5 Hi-tech and Bio-tech 6 Heavy Metal Industries
More informationWILLIS GROUP HOLDINGS HOW WE GET PAID
WILLIS GROUP HOLDINGS HOW WE GET PAID WILLIS GROUP HOLDINGS HOW WE GET PAID INTRODUCTION The purpose of this paper is to provide an overview of the ways that Willis is remunerated for the value we deliver.
More informationMANDATUM LIFE INSURANCE BALTIC SE
MANDATUM LIFE INSURANCE BALTIC SE INTERIM REPORT 1-3Q/2010 Business name: MANDATUM LIFE INSURANCE BALTIC SE Commercial registry code: 10561490 Address: Viru väljak 2, 10111 Tallinn Telephone: 6812 300
More informationFor Smart Insurance Solutions Choose Coverforce
For Smart Insurance Solutions Choose Coverforce Our Capability Issue Date 1st October 2012 A different company Creating smart insurance solutions for clients is what we do. Our determination to genuinely
More informationBonding and Insurance Workshop. Presented by Ingrid Merriwether, President & CEO
Bonding and Insurance Workshop Presented by Ingrid Merriwether, President & CEO 1 What is to Be Gained? Practical Knowledge of insurance and bonding How insurance and bonding protects you and others How
More informationManaging Risk in Mega-EPC Projects Where Do We Start?
42 24 29 N 20 15 50 E CIVIL GOVERNMENT SERVICES MINING & METALS OIL, GAS & CHEMICALS POWER Kosovo Motorway, Kosovo Managing Risk in Mega-EPC Projects Where Do We Start? What is Risk? Concept: Risk A risk
More informationGlobal Infrastructure Practice INFRASTRUCTURE DEVELOPMENT
Global Infrastructure Practice INFRASTRUCTURE DEVELOPMENT 1. INTRODUCTION Infrastructure development is a powerful force in today s global economy. Hundreds of billions of dollars are being spent every
More informationLEX HELIUS: THE LAW OF SOLAR ENERGY Solar Energy System Design, Engineering, Construction, and Installation Agreements
LEX HELIUS: THE LAW OF SOLAR ENERGY Solar Energy System Design, Engineering, Construction, and Installation Agreements Alan R. Merkle Stoel Rives LLP 600 University Street, Suite 3600 Seattle, WA 98101-4109
More informationInsurance Functions AGENCY LAW INSURANCE OCCUPATIONS. Chapter 5 Page 1
Insurance Functions Chapter 8 1 AGENCY LAW An agent is a person authorized to act on behalf of another person who is the principal Duties of the agent: Loyalty Not to be negligent To obey instructions
More informationUSING OCIPs AND CCIPS TO BRING ORDER TO PROJECT INSURANCE
USING OCIPs AND CCIPS TO BRING ORDER TO PROJECT INSURANCE CMAA Southern California Chapter October 30, 2014 8:00 a.m. The Grand Conference Center 4101 E. Willow Street Long Beach, CA Panel Greg Kildare
More informationPROCUREMENT AND THE INSURANCE INDUSTRY WHAT YOU NEED TO KNOW NOVEMBER 2015
PROCUREMENT AND THE INSURANCE INDUSTRY WHAT YOU NEED TO KNOW NOVEMBER 2015 National Practice Leader Public Entity Corporate Insurance Topics to be discussed: Corporate Insurance understanding the difference
More informationInsurance Specialists to the building and allied trades
www.tradedirectinsurance.co.uk Insurance Specialists to the building and allied trades Welcome Welcome to Trade Direct Insurance, we hope that you find our brochure informative and that our range of policies
More informationOnline risk solution s is an underwriting agency which focuses on trading with broker partners only.
HOME PAGE Online risk solution s is an underwriting agency which focuses on trading with broker partners only. We have a proactive and flexible approach to business with the aim of developing long-term
More informationACE Advantage Contrators Solutions
ACE Advantage Contrators Solutions ACE ADVANTAGE CONTRACTORS SOLUTIONS Table of Contents Introduction 3 Builders Risk 4 Casualty Coverage 6 Umbrella s / Excess Liability 8 Contractors Pollution Liability
More informationLife & Protection. Scott Ham CEO. John Hunter COO. Analyst & Investor Conference
Life & Protection Scott Ham CEO John Hunter COO Analyst & Investor Conference New York City, December 2010 Key messages Grow profitable new sales Leverage expertise to increase recruiting and expand existing
More informationAUSTRALIA S BEST BUILDERS CHOOSE MBA INSURANCE SERVICES CAPABILITIES STATEMENT
AUSTRALIA S BEST BUILDERS CHOOSE MBA INSURANCE SERVICES CAPABILITIES STATEMENT Table of Contents page 1 Introduction... 3 1.2 Our Approach... 4 2 Insurance Broking Services... 5 3 Our Service Approach...
More informationZurich Captive Services. Help take care of your people and business together
Zurich Captive Services Help take care of your people and business together Zurich Captive Services Release the true value of your captive Captives have long helped large multinational companies to finance
More information