Time to act on global programmes

Commercial Risk is hosting its first virtual conference dedicated to the Asia-Pacific risk and insurance management community, on the increasingly important topic of global programmes, on 24–25 November.

The conference, titled ‘Global Programmes Asia – gaining maximum benefit’ follows the success of Commercial Risk’s first virtual event focused on the same topic in Europe at the end of September.

Global programmes have become more important than ever in the post-Covid-19 world, as risk and insurance managers across the globe seek cost-efficient solutions for their ever-more complex risk and insurance management needs.

The commercial insurance market in Asia is hardening rapidly as it is elsewhere in the world, as insurers seek to bolster their profits and balance sheets after years of soft market conditions and the economic shock caused by the pandemic.

Risk and insurance managers are being advised by the leaders of their representative associations, such as Parima in the Asia-Pacific region, to start renewal negotiations with their insurers as soon as possible and find out what options and limits are available.

Those who fail to act swiftly and decisively could find themselves involved in difficult last-minute negotiations with their insurers and fail to find adequate coverage in key lines such as D&O and cyber.

To help contain costs at a difficult time, risk and insurance managers need to explore their options, such as higher self-retentions and the use of captives.

Global programmes offer a cost-effective means of managing cross-border exposures on a consistent basis and should be seriously considered by any companies that do not already use them, argued experts at the recent European event.

For the Asia-Pacific edition, the group of top-level speakers from leading insurers, brokers and specialist advisers gathered by Commercial Risk from firms including AIG, AXA XL, AXCO and TMF will provide expert advice for risk and insurance managers on how to best build and manage their global programmes in this tough market environment.

To sign up for the event and benefit from the expert advice and discussion please click here.