TaveRM makes sure that our clients' insurance programs deliver full coverage for existing international exposures. TaveRM effectively collaborates and builds productive relationships with our global broker service partners.
Our experienced staff provides marketing expertise so that you benefit from the best possible coverage terms and conditions on global and controlled master programs.
We maintain regular communications with our overseas brokers, exchanging relevant information about customer needs and operations. We explain the nuances of your business and give our broker partners clear instructions about your insurance program.
In addition, TaveRM will:
- Provide insurance premium allocation services, prepare invoices, and collect premiums from overseas subsidiaries.
- Develop an annual insurance policy summary including all coverages placed locally and overseas.
- Provide an initial exposure analysis for new operations, updating as changes arise.
- Manage global, controlled master programs and locally admitted insurance as well as non-admitted insurance programs.
TaveRM partnered with a global manufacturer to assist in the due diligence and successful merger of a $300 million European acquisition
- Global Manufacturing Client
- Revenue of $2,000,000,000
- Highly technical product, potentially subject to recall
- Identify potential exposures and trailing liabilities
- Assure a smooth integration of coverages into the clients' master program
- Minimize costs and duplication of coverage
Challenge: Client was acquiring a large non-U.S. operation. The success of integration and managing trailing liabilities was critical to the profitability of the new venture.
Business Solution: Using our proprietary, customized process, TaveRM analyzed data relating to the acquisition and prepared overview information detailing potential exposures; uninsured risks and trailing liabilities.
TaveRM accessed local European and London markets to quote specialty coverages such as Products Recall and Environmental. We integrated all other lines of business within the client's global master program.
Results: Coverages for the new European entity were successfully integrated within the client's global program. Premium reductions were negotiated to assure profitability of the new entity.