Download AGCS Russia: International Insurance Programs At A Glance

Allianz Global Corporate & Specialty
Sales
Appetite
May
2015
Allianz Group - The
world‘s leading
Property & Casualty
insurer, with 147,000
employees serving 85
million customers in
70 different countries.
Ask us about our
coverage for Aviation,
Energy, as well as for
Corporate Property
and Engineering.
www.agcs.allianz.com/global-offices/russia
International Insurance
Programs At a Glance
Russia
International Insurance Solutions ('IIS') for multinational risks
The effective management of global risks is our
core business. This is why Allianz Global
Corporate & Specialty has been structured and
resourced specifically to meet the needs of
international companies, whether they are
operating in Austria or in Zambia, or indeed in
more than 160 other countries worldwide.
We have established a reputation as a leading
provider of international insurance solutions for
corporate clients with international multi-location
exposures.
Our experience speaks for itself: We currently
manage almost 2,000 such global insurance
programs for our clients, coordinating 15,000 local
policies, covering a wide range of risks – including
Property, Liability, Energy, D&O or even Marine
Cargo.
Our worldwide systems and infrastructure are built
to handle the increasingly complex challenges of
international tax regimes, cross-border payments
and local regulatory demands – delivering local
compliance and global portfolio transparency for our
clients.
Our network combines Allianz-owned insurance
companies in more than 70 major countries with
selected network partners in others, giving an
unrivalled combination of ‘own office’ reach with
cost-effective partners in others. The result is
international insurance coverage in more than 160
countries.
Global insurance programs from A-Z
www.allianz.ru
www.agcs.allianz.com
We can tailor global insurance programs to fit the
needs of each client, whatever and wherever their
business might be. Customization is essential, as is
a flexible approach. No one solution can fit every
challenge.
Typically, these global programs will combine a
global ‘Master Policy’ with locally admitted policies
placed in the individual risk locations. The Master
Policy will provide Difference in Conditions or
Difference in Limits (‘DIC/DIL’) coverage over and
above the local policies, backing these up with the
highest financial security ratings of any global
property and casualty insurer.
Within Europe, for Property, Engineering and
Marine coverage, we can also take advantage of
European ‘Freedom of Services’ legislation, if and
when appropriate.
This approach ensures harmonized cover across a
worldwide risk portfolio, coordinating a client’s global
risk exposure on a central basis. With a global
program, the client has one global insurer to partner
with. This creates the best combination of local
delivery with centralized global oversight and
management, which ensures responsiveness and a
‘big picture’ perspective in the event of a claim.
Clients benefit from portfolio transparency and easy
access to Allianz decision-makers, as well as from
having the confidence of clearly defined service
level agreements.
We combine this global view with an integrated risk
consulting approach. More than 250 engineers
across the globe can provide coordinated risk
surveys and advisory services to match our clients’
local requirements, wherever advice is needed.
To learn more, please contact:
Maxim Smirnov
Head of International Programs, Russia
Tel.
+7 495 2323333 ext.5181
Mob.
+7 903 7922683
[email protected]
Program structure – process and practice
Spanning many industries and countries worldwide,
there is a wide variety to the individual requirements
of our clients. Their varying exposures and local
needs demand individually adjusted international
insurance structures – which are always carefully
designed on a case-by-case basis.
No two programs are the same: not only do
clients’ needs vary, but so does the structure of
International Insurance Programs in respect of
For instance, an Engineering program will require a
different approach to a Marine Cargo solution. This
is one of Allianz’s key strength because of our
experience in the bespoke design of individual
International Insurance Program s – as well as the
breadth of our product range. In order to demonstrate how a typical International Insurance Program
is structured, we outline below two examples of the
more common International Insurance Program
product types: Property and Liability.
different product lines.
• Local policies issued dependent
on risk and maturity of market
• Master cover provides global umbrella
Master Policy provides Difference in
Conditions (DIC) and Difference in
Limits (DIL) cover, over and above
locally admitted policies
• Harmonised coverage across the program
1 Parent company
(e.g. in Russia)
• Combines best local practice with
global requirements
2 Germany
3 UK
4 Canada
5 Australia
6 Mexico
• Local regulations are complied with (taxes/levies)
• Premium is allocated in relation to local risk
and exposure
• Similar to Property IIP concept
but with additional specific
Umbrella coverage for US risks
• Assures compliance with special
regulatory and market
requirements in this region
Master Policy provides Difference in
Conditions (DIC) and Difference in
Limits (DIL) cover, over and above
locally admitted policies
1 Parent company
(e.g. in Russia)
2 Spain
3 Poland
4 Hong Kong 5–7 US Primaries
License by the Federal Service for Financial Markets C#029077
Copyright © 2015 OJSC IC Allianz. All rights reserved. The material contained in this publication is designed to provide general information only. Please be aware that information relating to policy coverage, terms and conditions is provided for guidance purposes only and is not exhaustive and does not form an offer of coverage. Terms and con-ditions
of policies vary between insurers and jurisdictions. While every effort has been made to ensure that the information provided is accurate, this information is provided without any
representation or warranty of any kind about its accuracy and OJSC IC Allianz cannot be held responsible for any mistakes or omissions.