– Partner Market came to Globex when their largest client had a shipment held up at the port of entry in Ivory Coast. Globex was able to place admitted coverage with a local insurer within 48 hours and have certificates issued on a weekend. Since then, our Partner Market has had us place admitted policies for this client in five additional African countries.
– Globex introduced a new warranty product to the Indian insurance market and work with local network partner to file the wording with the Indian regulator.
– Partner Market wrote the domestic exposures of a US based account. The insured expanded into Latin America and Africa. Risk Manager determined it was best to put together a global program and sought alternative quotations from traditional global insurers. Globex worked with Partner to place admitted/fronting policies in ten countries satisfying the Risk Manager and maintaining what was a long-term relationship with the client.
– Globex is working with local network partners to introduce new products and wordings to the local market place. Some recent examples include Comprehensive Media Liability and Solar Revenue Shortfall.
– Partner Market provided “global” cover on a non-admitted basis for a Fortune 1,000 client. The client’s board of directors decided that the program had to be admitted in order to meet all potential regulatory requirements. Partner was made aware that the program would be moved to a global carrier and asked for a 30 day window to generate a solution. Globex secured fronting policies in each country outside the United Sates (15 countries) within 12 days. Partner Market retained the account and increased their net premium in the process.
– European insurer decided to partner with Globex to address a perceived occasional need for local policies. Within ten months of entering into the Partnership the insurer wrote five large multinational accounts and is now seeing and binding submissions on a regular basis from top brokers.