Insurance is one of the most effective ways to manage corporate risk. Understanding all known and anticipated risks allows an organisation to measure and prioritise, as well as take the appropriate actions to reduce the potential for losses. An effective risk management plan can:
- Save resources such as time, assets, income, property and people;
- Prevent or reduce potential legal or financial liabilities;
- Improve operational stability;
- Protect reputation and public image;
- Protect people and the environment from harm;
- Assist in clearly defining insurance needs.
Companies employing a risk management strategy need to identify, evaluate and develop strategies – generally through risk control and risk financing – to mitigate and finance risk in a way that vastly improves the protection of an organisation’s assets.
Sovereign Insurance Services (SIS) offers a range of traditional and non-traditional insurance solutions that are aligned to companies’ overall risk management strategies. SIS has also developed strategic partnership arrangements with underwriters and brokers throughout the world in order to meet the insurance requirements of our clients.
SIS will work for the Sovereign client, not the insurer, to obtain the most suitable insurance products at the most competitive pricing levels available in the markets. It will also ensure that you are not paying for insurance that you don’t need.