Specialist Underwriting Services
Our Underwriting Services
Our services work for you by taking an innovative approach coupled with a unique offering that helps companies effectively manage their risk. Our specialist experts are passionate about providing solutions that are serious about risk management.
With the purpose of creating sustainable risk and insurance solutions, we believe in creating real value for our clients by delivering on our promises and striving to create strong, long-lasting and profitable relationships with respected industry partners and customers.
Try our in-house built Risk Appetite Indicator & Threshold Claims Ratio (TCR) calculator.
Our success is your success and our offerings speak directly to the notion of assisting our clients in achieving more sustainable businesses.
Whether you’re a new business or been around the block for a good couple of years, PARTNER RISK has the tailor-made insurance solution that you need to become a sustainable business.
PARTNER RISK is proudly underwritten by Guardrisk Insurance Company Limited. For any enquiries, please get in touch with us for more information on our sustainable risk and insurance solutions.
Assets insurance
We offer customised insurance policies for commercial clients, only through intermediaries, which provide protection in the event of certain losses suffered to their income statement and balance sheet. These losses include property damage and consequential loss of income (or increased operational costs) caused for example by:
- Fire & allied peril events
- Machinery and electronic equipment breakdown
These additional covers may also be arranged concurrently with the above up to agreed limits:
- Accidental damage
- Theft
- Incidental transit
- Glass cover
- Money
- Business All Risks for portable equipment cover
- Incidental construction risks (CAR)
The type of insurance policies are constructed to suit the needs of our clients. These may be referred to as:
- Assets All Risks
- Seamless All Risks
- Multi-peril or commercial
- Buildings Combined
Multi-Peril Insurance
We offer multi-peril insurance policies should our clients prefer this type of policy under advice from their appointed broker.
SASRIA insurance
Where we are the lead or sole insurer on the property and/or multi-peril insurance policies, then we automatically offer assistance with the purchase of SASRIA insurance policies to protect the client in the event of damage to property or vehicles and consequential loss of income, caused for example by:
- Riots
- Political civil unrest
- Civil commotion
Our insurance solutions are different
Our solutions are aimed at a middle commercial market, i.e. clients with combined property/business interruption exposures between ZAR300,000,000 and ZAR1,300,000,000 (VAT exclusive) at their main business premises.
A good estimation of this target market would be a client with Turnover between ZAR500,000,000 and ZAR1,500,000,000.
Payback undertaking
In addition to standard industry practices of premium payment terms, e.g.
- Minimum and deposit premiums
- Burner premium tranches
- Continuity premium discounts
- Aggregate deductible and loss limit discounts on premiums
- Annual or Monthly premium payments
- Premium financing (through our principal insurer, Guardrisk Insurance Company Limited)
We also offer a low-claims-bonus (Payback) feature in our insurance policies. If our client’s claims do not exceed a pre-determined level (Threshold Claims Ratio “TCR”) specified as an endorsement to the policy, then a calculated amount of up to 5% of annual premium is set aside for expenditure toward risk management improvements.
The amounts are typically applied to enterprise-wide risk management improvements, e.g. risk assessments for the client, fire mitigation training or change management initiatives.
However, this undertaking is not offered if we do not issue the policy as the lead insurer.
The benefits to our clients include:
- Additional funding for risk mitigation to supplement client maintenance and improvement budgets
- Better understanding by the insurer of the client’s key risk areas and controls
- Optimal structuring and pricing of the client’s insurance policy.
Risk Management
In addition to standard industry practices (risk surveys), PARTNER RISK conduct bespoke risk mitigation plans to improve our clients’ risk management profiles.
This benefits our clients with;
- Lower maximum loss estimates
- Lower cost of insurance
- Better preventative measures against losses happening
These risk management interventions are discussed and agreed with your appointed broker and may be funded jointly by the client and PARTNER RISK.