Globex equips Partner Brokers with the capability to market, sell, deliver and control a true worldwide risk management capability that immediately differentiates them from their competition and “levels the playing field” against the global brokers.
Effectively positioned as an in-sourced international department, Globex adds value by proactively working with its Partners to generate new multinational business. We provide Partners with access to a broad range of products and services specifically designed to meet the needs of multinational companies.
- All principal Property & Casualty Classes, whether on a global or local level.
- Specialty Products, like Clinical Trials, K&R, International Surety and Political Risks.
Key Services Provided:
- A responsive service geared to providing a timely solution for all international inquiries.
- International experience to educate and inform.
- Strategic discussion and overview of available international options.
- A tailored approach based on customer needs & wants.
- Prospect / Client sales calls and RFP responses.
- Solutions driven; not network driven.
- Hands-on marketing and servicing of international business.
- On-going involvement through program review and evaluation.
- 160 country international broker “Network”
- Over 300 broker relationships.
- An independent, fully coordinated and customer focused approach
- Exemplary local service capability.
Global Risk Management Services
The majority of U.S. based multinationals have grown their overseas operations and exposures significantly over the past 10 years. In many cases, local AND global coverages do not accurately reflect the local exposures. As companies continue to expand outside their home countries, accurately assessing risk and exposures, implementing a customer-driven risk management program and managing this risk management program will be required in order to properly protect future growth plans.
Core Risk Management Questions:
- Do you know what your total cost of risk is, i.e. premiums,taxes, fees,
commissions and losses, in each country where you have operations?
- Do you have the same degree of control over your international program/risks as you do over your domestic program?
Globex clients can take advantage of our unique Global Risk Assessment to help multinationals bring all this information together in a single document.
A local site visit by qualified professionals.
An independent assessment of local exposures, values AND costs.
A review of existing service providers (broker underwriter, third party).
A discussion with local management about current operations, likes & dislikes of the current risk management program.
A summary of current insurance arrangements.
Detailed risk management observations and recommendations from a local as well as a global standpoint.
A tool to minimize your cost of risk.
A tool to better manage and control your overseas risk management program.
It is not:
Simply a review of local policies & coverages.
We provide services on a multilingual, local and multinational basis.
We are represented in 160 countries across the globe.
We are able to provide our service alongside of existing relationships so as not to upset local or global service providers.
We have a wealth of practical knowledge and understanding of local customs, laws, policy forms and insurance regualtions.
We provide an independent, third set of eyes via local experts coupled with a team of international insurance experts with over 200 years of international risk management experience.
In addition to detailed country reports we provide you with recommendations on how you can improve your current program from a coverage, cost and structural standpoint.
Our goal is to help you establish a platform upon which you will eventually be able to manage your international program to the same extent as you do your domestic program.
Global Special Risks
Directors & Officers Liability
Relying solely on a non-admitted coverage often does not protect local directors or managers or managers sent overseas to work abroad from the parent company.
Many countries do not recognize certain aspects of a typical US issued policy. Corporate Indemnification, Legal Defense Costs, and Payment of Premium issues can vary widely from what the insured in the US would like their intended coverage response to be.
In response to this landscape, Globex has developed a database to allow us to compare the current D&O environment, conditions, and insurance availability in more than three-dozen prominent markets against the different solutions available. This database is based on our own client centric view of the key issues for handling overseas D&O exposure.
Kidnap, Extortion & Detention
Kidnap, Extortion and Detention are real dangers for companies operating overseas often in important developing markets for their businesses or organizations. Standard package policies often exclude or limit coverage for important ‘hot spots’ that insureds operate in.
Globex, in conjunction with the market leaders for this class of business, can provide Kidnap, Extortion and Detention, Emergency Response, and Business Interruption coverage extensively tailored to a client’s needs.
In an ever growing number of countries, coverage for Clinical Trials is compulsory and a local policy must be issued. Policies in some countries are written on a “no-fault” basis, whereas in others they are liability based. Where coverage is compulsory, certain minimum limits very often apply.
Frequently, the acknowledged providers of Clinical Trials insurance here in the US are unable to extend their reach to some of the emerging clinical trial locations.
Globex is able to provide a solution for all clinical trials exposures outside North America, whether on a single country or multi country basis.