The Reasons and the Benefits for Employing GRS
Many corporate buyers of insurance are unaware as to whether the insurance arrangement they have are adequate, or cost effective. They may have complex risks which require risk management or loss prevention advice and guidance on how best to insure (or not insure) specific exposures. In such cases, the professional and technical advice of a qualified and experienced insurance Broker is very important.
Market Knowledge and Expertise
We have a complete and thorough knowledge of the Insurance Market within which we operate in Hong Kong and other countries in Asia. This enables us to do business effectively with those insurance companies which are secure and are the most appropriate for any given type of risk.
With the detailed financial information on all local insurance companies available to us, we are in an ideal position to accurately assess the level of security offered by a particular company on behalf of our clients.
It would, generally, be quite impossible for an individual "Insured" to have anything close to the substantial knowledge and expertise which we have built up over a number of years in the local Insurance Market.
Because GRS is recognized in the Insurance Market for its skills and because it controls a substantial insurance premium volume, it is able to exercise considerable influence over the insurance companies with whom it effects insurance cover on behalf of its clients.
We feel that our complete impartially allows us to do the job for our clients that much better than if we were in any way tied to, or acted on behalf of, insurance underwriting companies.
Our impartiality allows us to give objective advice to our client, "the Insured", and it enables us to look after his insurance interests without feeling we should, perhaps, be protecting the Insurers' interest also.
Access to Specialized Markets such as Lloyds of London
Many risks are of such a complex or unusual nature that the local or other regional Insurance Markets are either inappropriate or are unable to respond to the required degree of insurance cover considered necessary by us to protect the exposures.
In such cases, we utilize the Lloyds Insurance Market in London or other overseas markets.
We also have access to other Asian markets including China where many risks of large capacity are placed.
Since the only product of an insurance policy is the payment of a claim for a loss which the policy has been designed to protect, it is vitally important that our clients can rely upon us for skilled and effective claims handling and negotiation.
There have been many instances over the recent past where an Insured would normally have received a substantially reduced settlement from his Insurers following a claim. However, by using our skills, influence and relationship with insurance underwriters and loss adjusters, we have invariably been able to negotiate a dramatic improvement in settlement amounts.
If an "Insured" undertakes the handling and direct placement of his own insurance arrangements, he naturally incurs considerable administrative costs and ties up manpower which would best be used in the running of the business itself.
GRS are able to assume full administrative duties on all insurance matters on an ongoing basis on behalf of their clients.
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