Page 6 - Centor Global Insurance brochure

Case Study Next15 A communications organisation with sixteen subsidiary brands and 1,248 employees across 18 countries. Overview Centor’s Solution Centor conducted an extensive review Centor invest in really getting to know our of Next15’s existing insurance cover and client’s business. We conducted a series identified a range of gaps in cover and errors of meetings with the UK brands and USA / in the way the portfolio had been placed. Asia Pacific departments to understand their Key issues included: business and insurance needs. The results: • Professional Indemnity cover required 4 Seamlessly integrated the existing, ‘admitted coverage’, meaning claims locally arranged, US Professional may not have been paid Indemnity cover into a single global • Each territory arranged their own policy, generating a significant saving insurance, with no central control or and eliminating gaps in cover governance from the UK. This resulted 4 Worked with the insurer to arrange in gaps in cover and a costly premium a Global Master Policy with monoline • The client is rapidly expanding through cover, allowing other territories to fall acquisitions, and their existing policy seamlessly underneath. This ensures could not respond to their fast paced no gaps and a requirement to only environment, leaving them exposed purchase minimal statutory cover locally 4 The UK parent company now has control of the entire insurance programme and has full knowledge of the covers placed globally Overall, Centor provided Next15 with a robust insurance programme which was designed to suit their exact needs. We significantly increased cover whilst saving the client in excess of $50,000.