Our captive insurer has recently been authorised to write Employee Benefit Insurances and we're in the process of implementing. We have had a global broker agreement in place for the last 3 years, supporting the transition from locally managed and procured insurances to centrally driven placement with 2 preferred global networks. With no/very limited remarketing activity expected in future, we're reviewing the need for and value of a global broker. Does anyone have any experience they could share?
Thanks
I would ensure you consider smaller country coverages where you might not be able to secure something locally, and would therefore benefit from a regional policy. The global/regional brokers do take the hassle out of handling the local challenges such as translations and negotiations around minimum lives covered.
Hi Phil. It would be great to chat. We've had a global broker for 3+ years and are really only looking to change because of the approval of our captive. Drop me an email at lorna.macmillan@maersk.com with some availability next week (am traveling from Wed-Fri) and I'll send an invite.
Many thanks
Lorna
Hi Lorna,
We are going in almost the opposite direction as you - having no global broker and wondering about the benefits of one. Would a call be useful to work through the pros and cons of either position from our recent experiences?
Phil