Cross border solutions
A client set up operations in India and identified that strategically, for the company to grow, it had to understand and adhere to strict local regulations. The cover needed was difficult because of language and cultural barriers.
Working with the client in India via our local broking partner, local covers were purchased for minimum limits with a fully authorised local insurer. We maintained ‘grip and control’ from the UK and ensured that the global master policy wrapped around the company's full risk.
Another example of breaking through the cultural divides is clearly shown by how we opened up the French auctioneering market for a client. The French autioneering market was a closed shop. In order to secure a licence, a client had to provide evidence of insurance in a form recognisable to the French authorities.
While the client’s French operation was included within the company's group programme underwritten in the London market, it proved difficult to provide satisfactory acceptable evidence.
Working with our French broking partner, we placed a token local policy conforming to local market requirements for the licence to be granted, maintaining the global policy and protection on an umbrella basis.