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What We Do

Providing a comprehensive assessment of your existing company insurance arrangements.

 Ensuring you enjoy the best the market has to offer.
If appropriately done, company insurance can be a quick and effective solution to managing your businesses risks. However, it can also be extremely risky. A poorly structured insurance program is not only a waste of money, but it can also have disastrous consequences for a business. 

We help you make the best use of your insurance capital by finding you the most appropriate, cost-effective insurance solutions available in the market. Regardless of your occupation, industry, or business activities  

Our services provide you with the peace of mind that:

Your insurance program provides adequate levels of protection in line with your specific activities and needs.
Your appointed insurance broker and/or insurance intermediary is truly acting as your advocate.
You maintain the broadest policy wordings and products available from insurers, free of any restrictive or onerous warranties or policy conditions.
You are not unwittingly paying hidden commissions or other forms of concealed fees to your broker or insurers.
You secure the most competitive premium rates available in the market from local and international insurers.

POLICY WORDING REVIEW

A detailed assessment of your Policy Wordings to ensure there are no hidden warranties or conditions that could leave you either under or uninsured.
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INSURANCE PROGRAM 
HEALTH CHECK

An excellent solution for any organisation that is looking to test, challenge, benchmark, and/or critically analyse their insurance arrangements.
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BENCHMARKING STUDIES

Find out how you stack up against the global competition. Are you paying too much? Are you sufficiently covered? Are your policies appropriate?
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Insurance Program Health Check

Are you looking to test, challenge, benchmark and critically analyse your current insurance arrangements? Then you need an insurance program health check.

Dynamics in the insurance market are constantly changing. No one knows these dynamics and the complexities that come with them better than an insurance broker. As a result, brokers can provide relevant information with the latest trends and activity in the marketplace. Some brokers have a wealth of resources and capabilities across multiple disciplines, while others specialise in particular industries or have specific areas of expertise. 

At The Lion Partnership, our Statement of Capability tender management service allows you to engage with multiple insurance brokers, at the same time, to examine the overall adequacy of their insurance arrangements. So how do we do this? 

STATEMENT OF CAPABILITY PROCESS

We offer a comprehensive company insurance tender management service that provides access to multiple, suitably qualified and experienced brokers via a single project. It delivers a thorough examination of your entire insurance program, allowing you to examine all the key components that make up your insurance program, so you end up with the most appropriate, cost-effective insurance solutions available in today’s market. 

You don’t have to change from your incumbent broker to benefit. If you are dissatisfied with your brokers' performance, have questions about your current company insurance strategies, are looking to better manage your costs, or simply wanting to gauge the overall efficiency of your existing arrangements, this process is the ideal way to address these matters. 

Key benefits?

Allows you to capitalise on the knowledge, data, resources, and technical input of the most suitably qualified brokers in the market.
No need to change from your incumbent broker/advisor to benefit from the process. Many clients elect to reappoint their incumbent broker yet still achieve the goals they set out to accomplish.
Provides you with a clear snapshot of the various pros and cons of your current insurance policies and identifies opportunities to correct any deficiencies in cover and secure improved policy conditions..
Generates competitive tension in an open and transparent environment to maximise your chances to secure the best possible financial outcomes.
Delivers enhanced levels of broker service and performance.
100% flexible so it can be tailored to meet your individual needs and core specifications.
An excellent corporate governance exercise that demonstrates to shareholders, board members and senior executives that proper due diligence has been carried out in managing the company's insurable risks.

This tried and tested process ensures you are getting real value for money and making the best use of your insurance capital. We manage the entire process from start to finish, allowing you to focus on your core responsibilities and duties. 

We have managed over 200 tender projects on behalf of organisations eager to test their insurance arrangements. Find out how we can help you as well. 

Why is our Statement of Capability tender management service so important? Find out more.

Policy Wording Review

While there is no such thing as the perfect insurance policy, with careful evaluation of your needs and requirements for cover, it is possible to draft a policy that can fulfil your needs and stand you in good stead if you should ever need to rely upon it.
While many companies share comparable exposures or risk profiles given the similarities of their operations, each company is different and therefore requires a more defined program that meets their own specific needs. 

 Our technical Policy Wording Review tests the effectiveness of your insurance policies by examining, in detail, the actual levels of coverage provided against your organisation’s specific risks; thereby guaranteeing the maximum performance of your insurance program. 

 We also compare your policies against other similar wordings available in the market to identify broader and more appropriate coverage offered by alternative insurers.

Ultimately, our technical wording review helps to address the following critical questions:

Are your 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 contained in the policy wording which could give rise to insurers repudiating a claim in the event of a loss?
Do your policies provide a broad scope of cover or contain restrictive policy conditions?
Are your wordings bespoke products tailored to meet your specific needs or merely standard “off-the shelf” insurer products that have been modified through a series of convoluted or unnecessary endorsements?.
Does your program effectively transfer all your insurable risks or are there unknown gaps that need to be closed and/or better managed?

Benchmarking Studies.

Gain an independent perspective about how well you perform compared to other companies.
For many organisations, knowing how their insurance programs perform compared to their peers can often be of great value, as it effectively shows you where you are and helps you decide where you want or need to go.

The objective of our Benchmarking Studies is to demonstrate how your existing program sits in comparison to other organisations of comparable size with similar business activities and subsequent insurance needs. 

The process focuses on the key components of your insurance program in terms of coverage and pricing. It benchmarks them against similar businesses to allow you to fully evaluate and measure the performance of your own insurance program. 

This enables you to better understand the adequacy of your program and make more informed decisions regarding your insurance and risk financing methods.
26 Maplewood Close, Brookfield, VIC 3338

t: +61 418 299 225
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(03) 9863 8583