Policy Wording Review

Learn how effective the exact wording of your insurance policies really is.

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Chasing the ‘perfect’ insurance policy may be a pointless exercise, but drafting a more appropriate policy wording can safeguard you from future legal disputes and wasted premiums.

Testimonial(s)
"The Lion Partnership (LP) has developed a good process to achieve the goals set down. Relationships with all brokers were good, and the business-like approach of LP ensured a solid evaluation and outcome. Even though we ended up remaining with the incumbent broker, we (and they) gained a lot of knowledge.

We achieved monetary savings as well as improvements in scope of cover. The process is sound and gives a good basis for evaluation of the responding brokers. It is a systematic exercise which LP have developed over time and allows good comparison of the responders."
Stevenson
Testimonial(s)
"The Lion Partnership (LP) has developed a good process to achieve the goals set down. Relationships with all brokers were good, and the business-like approach of LP ensured a solid evaluation and outcome. Even though we ended up remaining with the incumbent broker, we (and they) gained a lot of knowledge.

We achieved monetary savings as well as improvements in scope of cover. The process is sound and gives a good basis for evaluation of the responding brokers. It is a systematic exercise which LP have developed over time and allows good comparison of the responders."
Stevenson

While many companies share comparable exposures or risk profiles given the similarities of their operations, no two companies are identical. Each will need an individual program that matches their own specific needs.

Our technical Policy Wording Review tests the effectiveness of your insurance policies. We examine, in detail, the actual levels of coverage provided against your organisation’s specific risks, to determine if your insurance strategy is delivering maximum performance.

We also compare the wording of other similar policies in the market to identify if broader, more appropriate coverage is available from alternative insurers.

A Policy Wording Review gives you the tools to answer:

  • Are our current insurance policies appropriate?
  • Do your policies contain any ambiguous policy language that could cause confusion around the extent of cover available in the event of a loss.
  • Are there any restrictive endorsements or warranties which could lead to insurers refusing a claim in the event of a loss?
  • Do our policies provide a broad scope of cover or contain restrictive policy conditions that may not be apparent?
  • Is our insurance product tailored to meet our specific needs, or a merely standard “off-the shelf” product that has been modified through a series of convoluted or unnecessary endorsements?
  • Does our strategy effectively transfer all our insurable risks or are there unknown gaps that need to be closed or better managed?

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