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UNISONTIMESHAMBURG | GERMANY | THURSDAY, SEPTEMBER 20, 2018 | THIRD EDITION
PREVENTINGCONTAINER FIRES –A huge challenge for both the shipping and marine insurance industries
NETWORKING OFOUR COMPANY
ARTICLES OF THE MEMBERS & INSURERS
IDCREVIEW
4 8 20
02
While this year’s Independence
Day Conference in Cuba still
echoes in our minds and we
joyfully reminisce our days in tropical
Havana with the legendary unison-convoy
drive along the Malécon in a fleet of vin-
tage cars typical of Havana, we now find
ourselves back in the midst of day-to-day
business, quickly approaching the last
quarter of the year.
Looking back at an eventful first half of
the year and focused on a veritable final
dash in the last quarter, I welcome you to
the 3rd unisonTimes edition in 2018.
We are very proud of the continuous
growth of unisonSteadfast and are pleased
to welcome new broker colleagues to our
network. You will find their short company
presentation on the following page.
In this edition, you will find articles of our
members on the current developments in
the international insurance markets as well
as a success story of a member, winning
the tender for servicing the international
risks of a client with the support of the
unisonSteadfast network. We would like
to encourage our members to share with
us articles and information they find inter-
esting and inspiring and look forward to
your editorial contributions in the future.
In the meantime, the integration of the
Steadfast model into our network is ad-
vancing. The implementation of the Cluster
model of our Australian colleagues on a
global scale is still in process and while
data collection is still underway, discussions
with multinational carriers have already
begun who have shown considerable in-
terest in this development.
We thank all members for participating in
the data survey conducted by KPMG and
for the trust you have placed in us.
Moreover, we have recently initiated ac-
cess to the Steadfast ERATO PI insurance
concept, aiming at providing a limit of in-
demnity of EUR 60 mil. in total to all of
our network members. With regard to
technological innovation, we are on the
verge of releasing a major update to our
IT environment.
We will soon launch the test phase of
our new operational process-integrated
IT platform uniNet 3.0 with a web-based
application.
Innovation and transformation have be-
come permanent and essential elements
in today’s business environment and we
are grateful for your support and assis-
tance in becoming a more powerful and
integrated network on a global scale.
Yours
Rolf Diekhoff
Dear members, dear business friends,
PROLOGUE
03
Cornes & Co.,Ltd (Insurance Division)
offers insurance risk management
and consulting services to com-
panies operating in Japan and worldwide
through our partnership network.
Our origins can be traced back to 1864,
when we established an underwriting
agency (14 years before Tokio Marine was
established). This underwriting agency
business lasted until 1990 when we
changed over from underwriting to an
insurance agency and insurance broker
business.
As an independent insurance agent and
broker, we provide property, liability,
marine and specialized insurance services
to over 500 corporate clients in Japan.
RFIB is an independent international
insurance and reinsurance broker.
We opened our doors to business
in the heart of the City of London in 1980.
As an independent international insurance
and reinsurance specialists with in excess
of 220 associates, we arrange focused,
effective solutions for clients worldwide.
Our specialist teams focus on providing
access to major international markets,
including emerging nations through our
continually expanding global infrastruc-
ture. No matter your requirement, be it for
the usual or the unusual, RFIB can offer
the solution.
We provide focused, effective and tailor-
made solutions for our clients, placing
business into the London and international
insurance and reinsurance markets, also
from our regional RFIB hubs in the major
international centres of Singapore, Middle
East, Saudi Arabia and Africa. Across RFIB’s
business we have expert and seasoned
professionals with a comprehensive under-
standing of the intermediary business and
what it takes in today’s world to deliver the
right solution.
Classes of business on which we focus in-
clude: Marine (e.g. Liability, Cargo, Treaty
reinsurance, Ports and terminals, Terrorism),
Global Risk (e.g. P&C, Construction, Cyber,
M&A, Trade credit), and Reinsurance (e.g.
Aviation, Captive consulting, Treaty Rein-
surance).
Member:
RFIB Group Ltd
www.rfib.com
Contact:
Mr. Andrew Smyth
Member:
Cornes & Co Ltd
www.cornes.co.jp/en/
Contact:
Mr. Simon Wallington
NEW MEMBERS
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AD
VE
RT
ISE
HE
RE
04
iXledger, a pioneer in blockchain en-
abled insurance solutions, and unison-
Steadfast, one of the largest international
broker networks, with over 590 brokers in
130 countries, 22,000 employees, and over
USD 20 bn in gross written premium, today
announced a partnership to develop a
solution based on iXledger’s blockchain
enabled platform to streamline work
processes and expand services to their
members and customers.
The initial phase of the strategic partner-
ship is focused on implementing solutions
to drive value through network manage-
ment, communications and knowledge
sharing. In addition, it is our vision to create
a next-generation online marketplace and
client management platform that will utilize
iXledger’s blockchain technology.
“Blockchain enabled solutions have great
potential to enhance member services, in-
crease customer engagement, grow rev-
enue and increase efficiencies,” Wolfgang
Mercier, President and CEO of unison
Steadfast said.
“ Partnering with iXledger will enable us to utilize the capabilities of blockchain technologies to streamline processes in an increasingly complex regulatory land-scape, especially when dealing with cross-border communications and compliance.”
“unisonSteadfast has a reputation for
facilitating excellent service and the use
of state-of-the-art technology solutions,
which has enabled growth over the past
decade,” Ingemar Svensson, Founder and
CEO of iXledger said. “We are excited that a
global insurance organisation like unison
Steadfast has recognised the capabilities
of iXledger and engaged our company as
their blockchain technology partner. We are
confident that our partnership will result in
greater control and visibility across complex
workflows across the member network,
achieving greater efficiencies.”
iXledger
iXledger leverages blockchain technology
to create innovative, next generation solu-
tions for the insurance industry that offer
all participants consistent, shared and se-
cure processes that increase efficiency,
reduce costs and have the potential to
grow revenue and loyalty by enhancing
customer engagement. iXledger is head-
quartered in London, with offices in New
York and Singapore.
unisonSteadfast engages iXledger as Blockchain Technology Partner
NETWORKING OF OUR COMPANY
Contact:
Mr. Andrew Hodgett
www.ixledger.com
0505
UnisonSteadfast, the largest inde-
pendent insurance broker net-
work in the world with a premium
volume of USD 20 billion and around
22,000 employees, and Munich Re have
entered into a cooperation in the field of
natural hazards risks. The subject of this
cooperation is the use of the Munich Re
Risk Suite by the unisonSteadfast network
and its members.
Natural Hazards Assessment Network
(NATHAN) is used to assess natural hazards
risks worldwide to accelerate the business
processes of insurance brokers and their
customers, as well as to assist in portfolio
and claims management.
The NATHAN module is part of the Munich
Re Risk Suite and is based on an accurate
systematic collection of global hazard data
from four decades. Munich Re has devel-
oped a risk modelling process specifically
to make this gigantic risk database usable
for risk assessment purposes.
In addition to national and worldwide risk
assessments, the program also includes
location analyses and claims overviews.
In addition to address-specific individual
risks, entire risk aggregations can also be
checked and evaluated.
Besides running the program on your PC,
there are also NATHAN applications for
the smartphone and the tablet to perform
the respective data analyses.
Do you also need assistance in assessing
storm, hail, flood and earthquake risks for
your premises or a customer‘s sites, or for
general location analysis?
If you are a unisonSteadfast member
interested in using the NATHAN tool,
please contact:
Mr. Henrik Herrera
You will then receive more information
about the terms and functionality of this
offer.
NETWORKING UNSERES UNTERNEHMENS
NATHAN for Location Risk IntelligenceunisonSteadfast partners with Munich Re
About Munich Re
Munich Re is one of the world’s lead-
ing providers of reinsurance, primary
insurance and insurance-related risk
solutions. The group consists of the
reinsurance and ERGO business seg-
ments, as well as the capital invest-
ment company MEAG. Munich Re is
globally active and operates in all lines
of the insurance business.
Since it was founded in 1880, Munich
Re has been known for its unrivalled
risk-related expertise and its sound
financial position. It offers customers
financial protection when faced with
exceptional levels of damage – from
the 1906 San Francisco earthquake to
the 2017 Atlantic hurricane season.
Munich Re possesses outstanding
innovative strength, which enables it
to also provide coverage for extra-
ordinary risks such as rocket launches,
renewable energies, cyberattacks, or
pandemics. The company is playing a
key role in driving forward the digital
transformation of the insurance in-
dustry, and in doing so has further
expanded its ability to assess risks and
the range of services that it offers.
Its tailor-made solutions and close
proximity to its customers make
Munich Re one of the world’s most
sought-after risk partners for busi-
nesses, institutions, and private in-
dividuals.
Background image:Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community
06
UnisonSteadfast has entered into a
formal alliance with The Harmonie
Group and its sister group, the
Canadian Litigation Counsel. Here is a bit
about this interesting global network of
independent insurance law firms. To view
more, visit: www.harmonie.org.
About The Harmonie Group
The Harmonie Group was founded in
1992 at the Harmonie Club in New York
City, when several experienced and well-
respected members of the defense bar met
to discuss forming a national network of
high quality law firms that had the proven
ability to serve the special needs of the risk
industry. The Group believed then, as it
does now, that both clients and attorneys
benefit from a better understanding of
the unique circumstances and concerns
facing each of them.
The members at the initial meeting wanted
to create an organization where quality
members would be encouraged to intro-
duce their quality clients to other members,
to promote an exchange of ideas between
clients and lawyers, and to have frank
discussions concerning the lawyer / client
relationship.
Potential Harmonie Group members were
identified from contacts in the following
areas: the risk industry, the International
Association of Defense Counsel, the
Federation of Defense and Corporate
Counsel, the Defense Research Institute,
the American Bar Association Sections,
and from law firms having high industry
ratings. The founding members, and later
the organization as a whole, carefully
identified quality firms in jurisdictions
across the country, from which the best
of the best, were chosen to join.
Since inception, Harmonie has expanded
into an international network of defense
firms with 58 firms in the US. The sister
group the Canadian Litigation Counsel
has 8 firms in Canada. In total, around the
world, the network has over 100 defense
firms with more than 5 000 lawyers to
serve your legal needs.
The Harmonie Group provides interna-
tional access to excellence. The defense
firms in our network handle complex and
difficult high stakes litigation for corpora-
tions, third-party administrators and insur-
ance companies. The process of looking for
counsel can be time consuming, uncertain,
Formal alliance with The Harmonie Group and Canadian Litigation Counsel
Connecting peopleFor years now, our global network has
been successfully connecting partners
worldwide. This year, we were more than
delighted to learn that we are not only
successful in supporting our members in
building up business relations, but also
the private ones as two of our members
and wonderful friends Natalia Zaborovska
of MAI CEE and Darryl Morris of Ceneta
got married on July 4th.
The beautiful wedding celebration took
place in Darryl’s hometown Perth in
Australia.
We would like to congratulate Natalia
and Darryl on this very special occa
sion and wish this great couple all the
happiness, lots of love and magic mo
ments! May you have many wonderful
years together!
and difficult. Harmonie is a by invitation
only network where the firms are subjected
to a rigorous review process to meet our
standards, ethics and values before they
are invited to join. The Harmonie Group is
pleased to provide online access to the law
firm directory and the 24-Hour Emergency
Response Directory on the website at
www.harmonie.org.
unisonSteadfast notes that while accept-
ing that our alliance is non-exclusive, we
highly recommend that if you have need
for legal services around the world, this
would be a good choice to investigate to
see if the local Harmonie Group member
is able to assist. As with all business deci-
sions and choices, your full due diligence
is required to see if this is a good fit for
your needs.
NETWORKING OF OUR COMPANY
Contact:
Mr. Tim Violet
www.harmonie.org
07
Our members have expressed great
interest in having an extensive PI
umbrella solution provided by
unisonSteadfast for the network.
Steadfast Australia itself has run a Group
Professional Indemnity policy for its
members since 2004.
They have maintained market leading
pricing for 14 years, providing coverage to
262 insurance brokerages over Australia
and New Zealand.
The policy offers a limit of AUD$ 100 m
AOC with full reinstatement and cascading
layers.
In addition to the Professional Indemnity,
the unisonSteadfast brokers are invited
to access the placing facilities of Stead-
fast Group Limited in London.
By using the Steadfast London office,
unisonSteadfast brokers benefit from
the greater leverage Steadfast has in the
London market in all lines from property
through financial lines and casualty lines.
With this increased leverage comes the
ability for our office to share the commis-
sions that flow from London placements
with the producing unisonSteadfast broker.
The attraction of the London market is
still strong, and its multi-jurisdictional
capability will prove invaluable to our
global network.
Benefits for unisonSteadfast brokers
+ Access to Global Lloyd’s
Hubs in Miami, Singapore
and London
+ Increased occupation
apetite
+ Greater leverage with
London Market Insurers
+ Increased commissions
+ Multi-Jurisdiction
Capabilities
For placing inquiries, please contact the
Head of the London office, details below:
David Saxton
Head of London
52-54 Gracechurch Street,
London, EC3V 0EH
Direct Tel: +44 (0)20 37 45 89 02
Mobile: +44 (0)79 03 87 44 02
E-Mail: [email protected]
www.steadre.com.au
Should you have any questions or require
any further clarification, please feel free
to contact our unisonSteadfast team in
Hamburg.
If you are interested in this offer, we
kindly ask you to provide the following
information:
Policy data
+ Insurance Carrier
+ Limits of indemnity
+ Insurance Period
Claims data
+ Ground up loss data
(5 years history)
+ Includes paid, reserves,
currency, open/closed
+ Type of claim
+ Claim jurisdiction
+ Was claim litigated or settled
You are kindly requested to send the data
directly to our assistant, Ms. Polina Balko
Professional Indemnity Policy (PI) for the global unison network
Steadfast London open for London placements
NETWORKING OF OUR COMPANY
Benefits for unisonSteadfast brokers
+ International program
+ Advantage of group buying
+ Limits of indemnity to align
with international brokers
+ Excess limits over
locally issued policies
Coverage
Wordings structure to respond to the
breadth of jurisdictions and legal re-
quirements:
+ Both Common Law and
Civil Law jurisdictions
+ Differing country legislation
08
As a highly specialised Marine in-
surance broker, Care has been
following with careful attention
the recent container fire events. What
can be learned?
Container fires have recently been quite
an issue, following two events in the
middle of the Arabian Sea affecting large
merchant vessels. Two fires in ten days
on vessels of the same owner is definitely
a bad coincidence.
These are just the latest episodes in a long
series of fires that have afflicted and continue
to afflict maritime transport. According to
the American Bureau of Shipping (A.B.S.),
the phenomenon has been driven by the
introduction on the market of increasingly
larger container ships with consequent risk
aggregation, where a single event generates
an exceptionally large number of losses.
But naval gigantism is not the only issue;
the causes and sources of ignition can be
ARTICLES OF THE MEMBERS & INSURERS
multiple and are due to malfunctions of
equipment, accidental causes related to
working with flames or the lack of pre-
caution in the stowage of flammable sub-
stances or solid bulk materials, reacting and
self-combusting. And it is precisely these
goods that constitute the main cause of
this phenomenon.
Many fires are in fact unfortunately linked
to the mendacious declaration of the type
of cargo stored in the containers. According
Preventing container fires, a huge challenge for both the shipping and marine insurance industries by Federica Costagliola di Polidoro, Marine Claims Manager, Care International Insurance Broker
09
to reports by Gard, substances at risk of
misdeclaration are generally calcium
hypochlorite, coal (sometimes registered
as “disinfectant” ,“water tube tablets”),
lithium ion batteries (registered as “cell
phone accessories”), paints and aerosols.
It is clear that this issue is the more “def-
lagrating” the greater the capacity of the
ship. Prohibiting the transport of such sub-
stances is an utopian if not even counter-
productive hypothesis, as the market de-
mand for these commodities is strong.
An excellent ally in this challenge can
surely come from technological devel-
opment and IT systems able to monitor
loads. In order to make the checks homo-
geneous and the degree of security certain,
however, these systems should be put in
place by all the involved companies.
The goals of fire prevention are essentially
to reduce the risks to life, the ship, its
load and the environment, preventing
the deve lopment of fires and explosions.
Effective measures such as firebreak
divisions, the removal of risk zones from
peopled areas, the restriction of the use
of combustible materials and an accurate
identification of dangerous goods, duly
declared, are required.
All these listed measures constitute the
first and most important phase, necessary
to avoid or mitigate the risk. However, it is
useless to deny that ordinary business is
still far from fully implementing all these
requirements. Thus, the importance of a
retrospective mitigation system emerges,
which is nothing else but insurance.
As already widely stated, the damages
resulting from „misdeclaration“ and fire
often have extensive and economically
exaggerated consequences. Precisely for
this reason, a proper marine insurance
policy should be equally as extensive and
capable to limit the risk and reduce dam-
ages, to the full benefit of the business.
Member:
CARE International Insurance Broker
www.brokercare.com
Contact:
Mr. Matteo Giulio Albertini
ARTICLES OF THE MEMBERS & INSURERS
10
Seventeen Group has announced that
it has acquired Everard Insurance
Brokers Limited (‘Everards’) on the
2nd July for an undisclosed sum.
Everards are based in West Malling, Kent, and
was established in 1969. It is a specialist
marine and marine trades broker as well as
handling general clients. Everards controls
gross written premium of £ 10 million. The
vendors Stephen Roper and Tim Gilbert
plus all staff will be remaining with the
business which will continue to operate
out of the existing West Malling premises
and operate as a specialist division within
Seventeen Group’s broking subsidiary
James Hallam Limited.
Stephen Roper, MD of Everards comments
“We thought long and hard about the type
of broker we would want our staff and
clients to join and James Hallam within
Seventeen Group felt like the right choice
from the outset”.
Fellow Everards Director Tim Gilbert adds
“Having developed the business and its
reputation over many years we are keen
to see these foundations built upon. We
can add enormously to James Hallam in
terms of our specialist knowledge and
will likewise gain from being part of a
specialist dynamic Group”.
Seventeen Group is a privately owned
insurance Group which includes James
Hallam insurance brokers,
Touchstone Under writing
and 4Sight Risk Management.
Paul Anscombe, Chief Executive Officer of
Seventeen Group comments
“ The acquisition of Everards is consistent with our strategy of growing and creating specialist lines of business. The team in West Malling are hugely knowledgeable in their field and are ambitious to grow the business. Everards have excellent relationships with their key insurers which we are keen to maintain and to expand the product range”.
Anscombe further adds “We were sup-
ported in this transaction by Paul Hambrook
and the Clydesdale Bank insurance team
and we will seek to work with Clydesdale
on future opportunities going forward.
We are also grateful to Gary Medcraff
of Darwin Smith for introducing
Everards to us. Successful acquisi-
tions require experienced business
partners and there is no doubt that
both Clydesdale bank and Darwin
Smithwere instrumental
in helping both parties
achieve our desired outcomes.”
About Everard Insurance Brokers
Everard is a forward thinking independent
Marine Insurance Broker established in
1969. We have two in-house schemes
specifically tailored for marine businesses.
We are able to provide a wide range of
covers including Marine Traders Combined,
Combined Liabilities, Marine Instal lations,
Builders Risks, Professional Indemnity,
Contractors All Risks and associated in-
surances such as Motor Fleet and Proper-
ty to name a few.
With our exclusive scheme arrangement
we feel that we will be able to provide you
with something a little different from your
existing insurance provider. Although we
deal with a wide range of providers we
draw the line at providing „cheap“ cover
at the expense of quality. We are happy to
avoid those providers who offer poor ser-
vice, substandard policies or inferior cover.
All of our clients deserve better cover year
on year.
Seventeen Group announces specialist broker acquisition in Kent
Member:
James Hallam Limited SME
www.jameshallam.co.uk
Contact:
Mr. Gary Jago
ARTICLES OF THE MEMBERS & INSURERS
11
Beginning September 1, all general
insurance companies in India will
have to offer third-party motor
insurance for longer duration as against
one year at present. This follows a
Supreme Court’s order dated July 20
in which it made it clear that third-party
insurance cover for new cars and
two-wheelers should mandatorily be for
a period of three years and five years,
respectively.
Accordingly, insurance regulator IRDAI
has directed companies to collect the
premium for the entire term but recognise
the same over the duration of the policy.
So, gross written premium for each year
will be total premium divided by cover-
age duration, while the rest of the funds
would be considered premium deposit or
advance premium.
From a consumer’s perspective, long-term
premium payments would substantially
increase the initial outgo on purchase of
new vehicles. Prima facie, the order will
increase insurance penetration and will
benefit insurance players. While it is still
early days, we outline the dynamics of the
third-party motor insurance industry and
how this move will impact growth and
profitability of the insurers.
Motor insurance: The largest segment for
general insurers in FY 17
Motor insurance is offered for private motor
cars, two-wheelers and commercial ve-
hicles and consists of third-party liability
(TP) as well as own-damage cover (OD).
The latter protects a vehicle owner from
damage or theft to his / her own vehicle.
OD coverage is optional and insurers can
set premiums freely based on their risk
parameters.
Thirdparty motor insurance mandatory
but a tariffed product
TP motor insurance covers the legal liabil-
ity for the damage caused by the insured
Third-party motor insurance ruling: Here’s how it impacts the general insurance companies
ARTICLES OF THE MEMBERS & INSURERS
12
vehicle to a third party in case of bodily
injury, death and damage to third-party
property. Unlike OD motor insurance, TP
motor insurance is mandatory. Every motor
vehicle owner in India is required to pur-
chase TP motor insurance and insurers
cannot refuse to sell customers the same.
TP motor insurance is a tariffed product,
which means pricing in this segment is
regulated. The premium rates for TP motor
insurance are set by the Insurance Reg-
ulatory Development Authority of India
(IRDAI) and reviewed and adjusted every
year by them using a prescribed formula
which considers cost inflation, frequency
of claims, average claim size and expenses.
Low profitability of TP motor segment
In the past, the TP motor insurance segment
had a combined ration higher than 100 %.
The combined ratio (measure of an in-
surer’s profitability) above 100 % indicates
that an insurance company is paying out
more money in claims and operating ex-
penses than it is receiving from premiums.
Profitability in TP motor insurance seg-
ment is contingent to a large extent on the
premium / tariff hike announced by IRDAI.
The regulator has offered average premium
hike of about 6.1 % for FY19 as against an
average hike of 15.3 % for FY18. Insurance
companies suffer losses if the hike an-
nounced falls short of claims inflation.
IRDAI revises motor third-party rates on
an annual basis. Depending on claims ex-
perience, the insurance companies prices
the renewal premium. However, in the
long-term policies, the insurer cannot re-
vise the premium rates for the duration of
the policy. So, the newly mandated long-
term policies can hurt profitability of insur-
ance companies if the business is written
at low prices and can lead to reserve de-
ficiencies.
The long-term profitability of insurers in the
motor segment is to improve with passage of
The Motor Vehicles (Amendment) Bill, 2016.
Longer duration policies will boost pre
mium growth for insurance companies
Industry TP motor insurance GDPI grew
at 21.5 % CAGR between January 2015 to
December 2017, driven by increasing in-
surance penetration, higher vehicle sales
and upward revision of tariffs by IRDAI.
Despite being more advanced than other
forms of non-life insurance products in
India, motor insurance still continues to be
Member:
Prudent Insurance Brokers
www.prudentbrokers.com
Contact:
Mr. Shamsher Singh Dhupia
underpenetrated relative to global levels.
CRISIL Research estimates that only 60 %
of cars older than 3 years are insured in
India as against the global benchmark of
90 % and only around 25 % of 2-wheelers
are insured against a global benchmark of
over 90 %.
The first year policy is sold through the
dealer but in later years it is through an
agency or online. The renewal rate is poor.
The long-term policies will reduce the
uncertainty related to renewal premium.
Hence, we see strong growth in TP mo-
tor insurance premiums driven by both
growth in new vehicle sales and long-
term policies.
ARTICLES OF THE MEMBERS & INSURERS
Source: https://www.moneycontrol.com/news/business/moneycontrol-research/sc-third-party-motor-insurance-ruling-heres-how- it-impacts-general-insurance-companies-2901361.html
13
Philippe Beti has been appointed
Managing Director of Ascoma
Cameroun and the Central West
Africa Zone (Burundi, Central African
Republic, Equatorial Guinea, Rwanda,
Chad), in replacing of Sylvain Cousin, who
led Ascoma Cameroon for 15 years.
Moustapha Tawel Kamara joined Ascoma
in April 2018 as Director of Ascoma Mali.
He held various positions among African
Insurance. Aboubacar Kabore has been
appointed Director of Ascoma Niger
since April 2018. He previously worked
Our longstanding client Barenbrug,
worldwide leading in grass seed
production, research and devel-
opment and marketing & sales of pro-
fessional grass seed for various applica-
tions, with a worldwide turnover of over
€ 250,000,000 and 740 employees pro-
ducing 82,000 tons of grass seed per year,
has chosen to appoint the unisonSteadfast
brokers in 15 countries around the world,
based upon a survey of their insurance
portfolio carried out by the Concordia de
Keizer account team last year.
They have put an enormous effort in
collecting all the necessary data and to
present it to Barenbrug Holding.
Due to the flexibility and professionalism
of the unisonSteadfast network, Barenbrug
Holding decided to appoint Concordia de
Keizer to start negotiations for the im ple-
mentation of international programmes
for their Property damage, Business inter-
ruption, General and Products liability,
Director’s and Officer’s liability and Marine
insurance.
for Ascoma in Ivory Coast. Ascoma Benin
celebrated 10 years of existence on June
27th. On this occasion, Michel Glazman,
outgoing Managing Director of Ascoma
Benin, hands over his successor Landry
Malan, who joined the Ascoma Group in
2002 in Ivory Coast.
Ascoma’s International desk in Paris is at
your disposal for any request in Africa.
Member:
Ascoma
www.ascoma.com
Contact:
Mr. Laurent Gizardin
Appointments at Ascoma
Barenbrug Holding – a client success story
Member:
Concordia De Keizer
www.concordiadekeizer.nl
Contact:
Ms. Judith Huisman
Henry van
den Heuvel
Account Director
Harold Nijkamp
Sr. Account Manager
Judith Huisman
Manager Account
Support
Aimee Frik
Account Support
With our colleagues around the globe, we
are proud to add value to the success of
Barenbrug and provide professional risk
management and insurance services.
With thanks to the Concordia de Keizer
account team!
ARTICLES OF THE MEMBERS & INSURERS
14
The National Health Protection
Scheme (NHPS) of India proposed
in the Union Budget 2018 is a
mega health insurance scheme aimed at
covering over 100 million poor Indian
families with the benefits flowing to about
500 million people. The per family cov-
erage is proposed to be Rs. 5,000,000.00
(about USD 7246.00). Tentatively, Rs.
1,100.00 (USD 16) has been thought of as
the cost per family to provide the health
cover of Rs. 5,000,000.00 for which the
proposed budget for the scheme would
be about Rs. 110 billion (USD 1.60 billion).
Indians pay about 62 % of health expen-
diture out of their pocket. As compared
to this, Brazil pays 26 % and China 32 %.
Therefore, such proposed health insur-
ance scheme is projected to mitigate the
out-of-pocket expense significantly.
If successfully implemented, arguably such
scheme could turn out to be the largest
health care programme in the world,
funded by a government. In India, as of now,
hardly 5 % of the population is covered by
the health insurance. The new scheme
aims at covering about 40 % which will
be a huge step forward. This scheme is a
follow-up to the various health care plans
already in place by the government such
as Rashtriya Swastha Bima Yojna (RSBY)
or the National Health Insurance Scheme
which is currently running in about
17 states and provides benefit to the tune
of Rs. 30,000.00 annually to the poor
families. The new scheme would enhance
the benefits multi-fold.
A back-of-the-envelope calculation shows
that NHPS will require a budgetary allo-
cation of 2.5 % of the GDP as against the
current allocation of 1.65 % of the GDP.
Moreover, it will not be easy to roll it out,
as we see several challenges.
Pricing of the product
Group Health Insurance in India is a bleed-
ing portfolio both for the public-sector
insurers and the private sector general
insurers, including the stand-alone health
insurers. Accordingly, it is yet to be seen
whether the insurers who are for bottom-
line results would at all be interested in
participating in the scheme.
Lack of infrastructure
Lack of infrastructure in rural areas coupled
with lack of doctors and management
mechanisms may make the scheme difficult
to execute in various under-developed
areas. India has 80 doctors per 100,000
population on the average, which is quite
low. Also, the health care sector will have
to grow its infrastructure in combination
with the general infrastructure. For ex-
ample, availability of a hospital would be
of help only when there is an adequate
transport network and a road network for
the patients to reach the hospital from the
neighbouring areas.
Furthermore, non-availability of the various
facilities in the small to midsize hospitals
compel the patients to move from one
place to another with duplication of various
investigations, useless stay and increase in
the overall expenses.
Out of about 1.3 million private in-patient
health care providers, nearly 91 % are
located in the metros and some prosperous
districts. For a private entrepreneur, mostly
the market opportunity comes before the
welfare of the poor. Therefore, having
facilities in rural areas would remain a
matter of huge incentivisation.
Revolutionary health insurance plan for India
ARTICLES OF THE MEMBERS & INSURERS
15
Administration of the scheme
In order to provide cashless, paperless
and quality medical care for hospitalisa-
tion, state-level agencies are proposed to
be formed. The operational efficiency of
these agencies will be a matter of concern.
Hospital bills
The government has various suggested
“package rates” for operations and other
procedures. Controlling the same and
keeping it under limit may not be fully
possible. Indian Medical Association (IMA)
has recently asked for increasing the rates
since such “package rates” cannot cover
even 30 % of the cost of procedures ac-
cording to IMA.
Potential Fraud
For a below-poverty-line family, an an-
nual medical benefit of Rs. 5,000,000.00
may be seen as a lottery. There is likely
to be huge claims from such poor under-
nourished people. Even if 20 % of the
families claim 20 % of the annual benefits,
the system will have an injection of about
Rs. 200 billion or USD 2.90 billion as the
claim money. This amount will go to the
hospitals, doctors, surgeons, patholog-
ical laboratories, drug manufacturers and
others related to the trade. As of now,
this could be the biggest incentive to the
people in the medical trade. The magni-
tude of the potential fraud is also likely
to be huge. The government is aware of
such possibility and it is going to set-up a
National Health Agency with compre-
hensive fraud control mechanism.
Conclusion
Although there are challenges, a universal
health care scheme is definitely the need
of the hour. If a concerted effort is made
to execute the project with an honest
approach, not only will the poor citizens
of India be benefitted but it will make
India a truly socially conscious nation. A
simultaneous focus on enhancing the
primary health care should continue with
a price-capping mechanism for various
drugs, hospital rooms, procedures and
investigations. Besides the focus on infra-
structure, intent and strictest enforcement
of all the positive measures under close
supervision, the success of this scheme
would crucially hinge on all states coming
on board.
It is understood that NHPS would require
a contribution of 40 % from the states,
which may not necessarily be accepted
by all the states who may run their own
health schemes through the lowest bidding
insurer. Some states may go in for a trust
model where the government sets up a
trust playing the role of the insurance
company. Such health insurance schemes
may be viewed similar to Mexico’s Seguro
Popular Scheme. Thailand also has a
similar scheme running.
In case of the insurance model, the gov-
ernment has to highlight the long-term
opportunities of cross-selling of other
retail insurance products to this insured set
of population. The development of various
fraud control mechanisms should be en-
couraged so that in the long run, the
scheme will become profitable even on a
stand- alone basis. Otherwise, the private
insurers may not be attracted to partici-
pate in the scheme.
Member:
Preferred Partners
Insurance Brokers (PPIB)
www.ppib.in
Contact:
Mr. Samiran Lahiri
Finally, the most important task for the
government should be to ensure that the
pharma and the medical industries cannot
take the driver’s seat with better bar-
gaining power to put things in their favour
and negate the ultimate welfare objective
of the government. Health care is a con-
tinuous process and such government
initiatives must be in principle supported by
all, keeping in view the long-term benefits
it can bring to the people as well as to the
economy, if executed properly.
ARTICLES OF THE MEMBERS & INSURERS
16
TGC Asia is delighted to intro-
duce MM2H, Malaysia My Second
Home, an exciting migration pro-
gram we are thrilled to support with a
variety of affordable, comprehensive health
insurance plans.
We have Plans 110, 160, 200 and 300 that
offer guaranteed acceptance, no medical
tests, no waiting periods, no co-payment, no
waiting and no complicated forms to fill in.
The MMH2 program is the brainchild of the
Malaysian Ministry of Tourism and Culture.
It is designed to let people from all over
the world who fit the right criteria to move
to Malaysia along with their loved ones
and enjoy a wonderful new life.
If you are accepted for MM2H, you will get
a multiple-entry social visit pass, which is
yours for ten years and is also really easy
to renew if you want to stay for longer. If
you are inspired to bring up your children
in Malaysia, create a brilliant career here,
make a magical life for you and your family,
you will be given a warm welcome.
Live well and peacefully in a tolerant,
happy country
+ Malaysia is a tolerant, peaceful place
where everyone has the right to
cultural and religious freedom
+ Our schools, colleges and univer-
sities are excellent
+ You will discover glorious beaches
and landscapes, wildlife, history, an
exciting sporting scene, plus great
food and wonderful shopping
Perfect for ambitious people who love the
good life
The MM2H scheme is available to people
from any country recognized officially by
Malaysia. It does not matter what race,
religion, gender or age you are. If you‘re
accepted for the program you can auto-
matically bring your spouse and any un-
married children aged under 21 with you.
About the Malaysian economy
Malaysia‘s vibrant international business
scene is perfect for ambitious people who
want to make their mark on the world of
commerce.
+ The Malaysian economy is the 4th
largest in Southeast Asia and the
world‘s 38th largest economy
+ Malaysian labor productivity is a lot
higher than Thailand, Indonesia,
Philippines or Vietnam
+ Malaysia is home to many knowl-
edge-based industries and cutting-
edge manufacturing technologies,
and has a powerful digital econ-
omy
+ Malaysian people have a much more
affluent lifestyle compared to other
upper-middle income countries
+ Malaysia has low national income
tax, plus low cost local food, fuel
and household goods
+ Malaysia offers fully subsidized single
payer public-healthcare and com-
prehensive social welfare benefits
If you would like to change your life for the
better, you can find out more about MM2H
from us. We, at TGC Asia are also able to
source and provide the best general and
commercial insurance products for busi-
nesses and individuals in every imaginable
circumstance, sector and industry.
Migrate to beautiful Malaysia with MM2H
Member:
TGC Asia Sdn. Bhd.
www.tgc-asia.net
Contact:
Mr. Alan Lim
ARTICLES OF THE MEMBERS & INSURERS
17
1. Background
Within our international programs, we
provide Freedom of Services (FoS) Master
Policies, which are an important corner-
stone of our multinational insurance pro-
position (MIP). For international programs
concluded with parent companies out-
side the EEA, exposures in the FoS area
have for many years been covered from
the UK. As you may know, we are currently
implementing plans to move this service
from the UK to Spain.
By bringing the FoS Network Center to
Madrid, Spain, we will leverage the proven
expertise on international programs within
Spain as well as executing on the strategy to
align our service delivery for international
business within International Programs.
Zurich is operating a phased approach
to transferring policies depending on the
currency they are issued in:
Phase 1 (March 2018)
All policies renewing on or after March 28,
2018 and issued in EUR currency (with
the exception of Corporate Accident and
Business Travel). Remaining policies (i.e.
non-EUR policies and CABT) will be
renewed and serviced by the UK
FoS Hub until Phase 2.
Phase 2 (September 2018)
All policies renewing on or
after September 15, 2018 in
all other currencies, i.e. USD,
GBP and CHF as well as CABT.
2. What does this mean for customers
and brokers?
All policy issuance, invoicing and collec-
tion, Underwriting support and Claims
handling will be handled in Madrid (Spain)
and renewed by the Spanish Branch of
Zurich Insurance PLC (ZIP), our main Eu-
ropean entity Zurich Insurance Public
Limited Company, rated AA- by S&P.
3. Questions and answers
3.1 Which country (Spain or UK) is re
sponsible for the policy during the phased
approach?
Any policy issued by ZIP UK will remain the
responsibility of, and be serviced by, the UK,
until further notice or expiry date. This in-
cludes all open or yet to be reported claims.
3.2 What are the main contractual
changes?
+ The Insurer will be Zurich Insurance
PLC Sucursal en España, Madrid.
+ Policies will provide for Spanish law and
jurisdiction. An exception applies to
policies integrated into an International
Program produced in Switzerland,
where like today, Swiss law may in most
cases be chosen.
+ A Policyholder from the EEA is needed.
Exceptions will be checked on a case
by case basis.
+ In addition, some changes are needed
mainly around mandatory legal clauses
such as data protection etc.
3.3 Intermediation
Brokers should ensure that they have the
appropriate licences to intermediate the
policy issued via the FoS Servicing Center
in Madrid.
3.4 What difference does changing the
governing law of the policy from English
law to Spanish law make?
The change from English to Spanish law
is a change from Common Law to Civil
Law. Overall, any impact will always de-
pend on the actual wording at hand and
the individual circumstances of the loss.
Zurich’s Freedom of Services Center relocates to Spain
ARTICLES OF THE MEMBERS & INSURERS
18
To enable you to better understand
Zurich’s products and solutions,
and the different types of risk we
write, we have created a mobile app that
allows you to view our risk appetite by
industry and products.
With the new app now live, we would en-
courage you to download it on to your
smart devices. Users of Apple devices can
download it now via the App Store and
users of Android devices can download it
via the Play Store (search for “Zurich Risk
Appetite”).
The app provides you with a quick and
easy way to access our global product
capabilities. You and your colleagues
should now be able to easily find specific
propositions or relevant local contacts for
a particular line of business by country.
By the end of July 2018, the following
countries / regions will be available on
the tool:
+ Global
+ Belgium
+ Germany
+ The Netherlands
+ Spain
+ Switzerland
+ UK
We will be adding more countries (cover-
ing all regions) to the tool in the months
ahead. With information on who to con-
tact, risk appetite, coverages and capabili-
ties all available at the swipe of a finger, the
app will truly support you in discussions
with your clients.
If you have any issues downloading the
tool, or would like to discuss it and its
functionality in more detail, please contact
our contact person or your local Zurich
contact.
Zurich releases mobile risk appetite app for commercial risks
In any case, the FoS Network Service
Claims handler will reach out to and col-
laborate with the producing country to
avoid surprises.
3.5 Can the UK be covered under the FoS
Master policy issued by ZIP Spain?
+ Prior to Brexit: Yes. As long as the FoS
authorization for UK is valid.
+ Post Brexit: Most likely ZIP will no lon-
ger be authorised to write insurance in
the UK under FoS post Brexit. In certain
circumstances, ZIP Spain may, however,
continue to be able to cover risks in the
UK on a non-admitted basis.
3.6 How will my Zurich contact help with
the transition?
Your usual Zurich contact will work with
you to cover and resolve issues that may
arise such as:
+ Local policy UK: Is there a need to set-
up a local UK policy?
+ Policyholder: Is there a need or the
opportunity to find a new policyholder
for the FoS Master?
+ Broker: Is there a need or an opportu-
nity to change the broker?
+ Currency: Would it be worth changing
currency to Euros to move as part of
phase one?
Insurer:
Zurich Insurance Ltd.
www.zurich.com
Contact:
Ms. Maxine Goddard
ARTICLES OF THE MEMBERS & INSURERS
Insurer:
Zurich Insurance Ltd.
www.zurich.com
Contact:
Mr. Dimitrios Mazarakis
Zufriedene Mitarbeiter.Vorsorge erlebbar machen.Nutzen Sie das Potential Ihrer Firmenkunden. Unsere Tarifhighlights:• Bereits ab 5 Mitarbeitern möglich. • Geringer Beitrag durch drei Altersstufen. • Ohne Gesundheitsprüfung.
Weitere Informationen unter wuerttembergische-makler.de
betriebliche Krankenversicherung
20
Havana, June 11 – June 13, 2018.
On June 11, the global unison
Steadfast community met for three
days of networking and professional ex-
change in one of the most exciting cities
in the world – Havana.
One might ask why Havana?
For the first time in the history of the
global network, it was decided to give
the members the opportunity to vote re-
garding their preferred location for the
next conference. Several absolutely dif-
ferent destinations were suggested. Hav-
ing scored more than 70 % of the votes,
Havana became the undisputed leader of
this competition. It was a huge challenge
for our unisonSteadfast team to organize
an international conference in the coun-
try where internet is just arriving, and the
administrative hurdles are enormous. Be-
side the natural catastrophes that hit the
Caribbean last year, we had to deal with
numerous political issues, restrictions and
compliance regulations. Since we attach
greatest importance to the safety of our
attendees, we needed to make sure that
the dates of the conference do not coin-
cide with the typical hurricane season of
the region and to thoroughly check that
all political and security parameters are
fulfilled.
170 brokers and insurance specialists from
35 countries joined the annual unison
Steadfast IDC to discuss the most im-
portant trends of the insurance industry,
shaping the future of the international in-
surance markets.
To ensure that the high-quality standards
of our conference facilities as well as of
the accommodation for our attendees are
maintained, our IDC 2018 was hosted at
one of Cuba’s most renowned hotels –
“Gran Hotel Manzana Kempinski”.
The Welcome Day included a sightseeing
tour through Old Havana and a welcome
drink at the panoramic pool terrace of
Gran Hotel Manzana Kempinski, offering
the most spectacular view over the city in
magic sunset atmosphere.
unisonSteadfast Independence Day 2018 in Havana, Cuba
IDC REVIEW
21
Conference Day 1
With the South American and the Carib-
bean regions being the major target of
natural disasters, the IDC 2018 in Havana
focused on natural catastrophes and their
impact on the worldwide economy and the
insurance industry, bringing together inter-
national experts in the field of climate re-
search, insurance and reinsurance leaders,
risk managers to discuss the geo physical
background and the possible preventive
measures as well as to present the latest
risk prediction and evaluation tools.
The presentations included “In the eye
of the storm: First-hand field report” by
Hyperion Risk Solutions, member of unison -
Steadfast based in Cayman Islands which
were hit by hurricane Irma in September
2017; “Science of Extreme Weather” by
AXA Research Fund in cooperation with
University of Columbia USA; “Munich Re
NatCat Intelligence” by Munich Re as well
as “Sustainability @ Zurich” by the Platinum
Sponsor of the IDC 2018 Zurich Insur-
ance, focusing on the sustainability and
social responsibility strategy Zurich has
successfully been pursuing for years now.
A new strategic partnership between
Munich Re and unisonSteadfast allows
the members of the network to access
NATHAN (Natural Hazards Assessment
Network) and the tools for risk evaluation.
The day was complemented by the spec-
tacular Gala Dinner in the majestic Alicia
Alonso Grand Theater of Havana. The
mecca of performing arts in Cuba and
one of the architectural icons of the city
opened its doors exclusively for the unison-
Steadfast community. Named to honor
the Cuban prima ballerina assoluta Alicia
Alonso, who is described to be „one of the
most important women in Cuban history”,
the theater is a true jewel in Havana‘s crown,
Cuba‘s cultural treasure and national pride.
The exceptionally elegant and glamou-
rous reception was opened by the private
performance of the ballet dancers of the
world famous Cuban National Ballet.
At the Gala Dinner, unisonSteadfast raised
donations to support the Cuban National
Ballet School and young Cuban talents.
This is just the beginning of a great char-
ity project unisonSteadfast would like to
continue within the framework of the
Independence Day Conferences hosted
all around the world.
Conference Day 2
Beside NatCat as the main theme, the
conference program also highlighted the
changing role of the broker in the digital
era, in times when the terms “blockchain”
and “disruption” are the order of the day.
With the Blockchain technology gaining
more and more importance nowadays,
unisonSteadfast devoted an entire con-
ference block to this subject, inviting global
experts and start-up companies to provide
insight into this complex issue. Among
others, the speakers featured IBM Global
Business Services reporting on “Reinventing
insurance with industry platforms, block-
chains and AI”, inblock.io, a blockchain
consultancy, presenting “Blockchain –
Infrastructure of the future?”. iXledger,
IDC REVIEW
22
unisonSteadfast Blockchain Technology
partner, presented an initiative to develop
a next-generation broker platform based
on the blockchain technology, allowing
the midsize brokerages of the network to
benefit from the advantages of this new
promising technology at no extra cost.
The afternoon sessions featured presen-
tations on Cyber products by Aspen Insur-
ance, re-insurance market by Munich Re
as well as new sales approaches for the
network.
In the early evening, when the sun was
slowly going down bathing the Malecón
in a golden light, 45 Havana’s most beau-
tiful vintage cars brought the attendees
to one of Cuba’s most famous locations –
the Hotel Nacional de Cuba, which is
considered a symbol of history, culture,
and Cuban identity. A place of legend and
glamour, the hotel stands out due to its
refined elegance and its ancient splendor,
which since 1930 has attracted a large
number of famous personalities from the
arts, science and politics, such as Winston
Churchill, Marlon Brando, Frank Sinatra,
Ava Gardner, Ernest Hemingway, Steven
Spielberg – just to name a few!
The smell of Cuban cigars, the taste of
mojitos and the irresistible rhythms of salsa
music played by Havana’s best bands –
the Farewell Party finished late at night,
contributing to a successful and certainly
absolutely unforgettable IDC 2018.
We would like to thank the fascinating
Havana for its uniquely captivating vibe
and its outstanding beauty, which is hard
to explain and difficult to understand until
you are there. Thank you, Havana, for
creating magic moments for all of us!
We are continuing our global conference
journey. Our next stop is Vienna!
For more information on the upcoming
unisonSteadfast Independence Day 2019
June 26 – June 28, please feel free to
contact:
Polina Balko
www.idc.unisonsteadfast.com
VIENNA / AUSTRIA
INDEPENDENCE DAYCONFERENCE 2019
26 – 28June2019
SAVE THE DATE!
IDC REVIEW
Source: www.lahabana.com
23
Zurich Insurance – placing sustainability at the center of our future
Insurance customers increasingly want
to know that the companies they do
business with are making sustainability
a top priority and insurers are responding
with new ways of creating value around
those concerns, Alban Laloum, Global
Broker Relationship Leader at Zurich
pointed out during the recent unison
Steadfast meeting in Havana.
“We might not have thought enough
about what this shift in customer demand
will mean for the insurance sector,” said
Mr. Laloum.
“ But as consumers put pressure on insurers and brokers, there is significantly more attention paid to sustainability”,
he stressed. Insurers traditionally start on
the road to sustainability by “giving back
to communities” through philanthropic
activities and encouraging employees to
become involved in improving the com-
munities where they live and work. From
there, many companies implement cor-
porate responsibility strategies that con-
sider how they can manage such areas
as their environmental footprint, supply
chain and diversity and inclusion policies.
“ The real game changer comes when companies involve the entire value chain and, ultimately, customers,”
said Linda Freiner, Group Head of Sus-
tainability at Zurich. “We see new brand
studies showing that consumers are in-
creasingly choosing to buy more sustain-
able products and this will include their
choice of insurance” she said.
Companies such as Zurich generally
think of sustainability as covering areas of
environmental, social and governance
issues, or ESG as it is commonly referred
to. Zurich has responded to shifting
customer demands with a focus on three
areas where it believes it can create
sustainable value. Those areas are the
evolving workforce, climate change and
cyber risk.
The digital age has created a need for new
ways of working and skills among em-
ployees of insurers and their customers.
As the world has become digitalized, em-
ployees often need re-training to develop
new skills. And, new solutions are needed
in an increasingly digital society, such as
innovative workers comp packages for
employees that are part of the new “gig
economy.”
Climate change is the topic most-often
associated with sustainability, and Zurich
believes it has a responsibility to support
the transition to a low-carbon economy
by providing insight and solutions that
help customers better manage climate
risks. “We also invest in understanding our
own climate exposure,” Laloum noted,
and Zurich has created such initiatives
as its global flood resilience program to
help manage what is among the most
devastating consequences of changes in
weather and climate patterns.
While being diligent about its own cyber
exposure, Zurich believes its role is to
provide solutions that give customers
confidence that their organizations are
resilient from the threat. Laloum also
stressed that the company must maintain
transparency around how it uses customer
data as it crafts cyber risk solutions.
Sustainability runs through Zurich’s value
chain and is a tenant of its business model,
according to Freiner. “The premiums we
collect need to be invested and we have
chosen to do so in a more responsible and
sustainable way,” she said. Zurich’s 2018
“impact investment” target of $5 billion in
green and socially responsible bonds that
fund renewable energy, infrastructure,
social projects and other such activities is
a clear example of the company’s com-
mitment.
“ We are also a manager of risk and need to ensure that we understand how different risks – including environmental, social and governance risks – play out in our underwriting business. Our claims functions play an important role to ensure that the loop gets closed in a responsible way. We also work with our claims hand-ling partners to ensure they meet certain requirements”,
she continued.
IDC RÜCKBLICK
24 IDC RÜCKBLICK
Insurer:
Zurich Insurance Ltd.
www.zurich.com
Contact:
Ms. Linda Freiner
Embracing sustainability means making
tough calls in some cases, Laloum said.
“ We are going to struggle to call ourselves a sustainable company if we do not take positions on certain contro-versial risks.”
Zurich considers environmental and
societal issues when considering dam
construction, mining and oil and gas risks,
Freiner explained. “However, there are
some sectors that we do not want to sup-
port from either a human rights or envi-
ronmental perspective,” she said.
Zurich will not write coverage for or invest
in companies that produce banned weap-
ons. It also has restrictions on writing cov-
erage for the thermal coal industry.
Sustainability provides Zurich with busi-
ness opportunities, Laloum pointed out.
“We have a strong portfolio of income
protection and savings products that offer
more sustainable solutions,” he said.
“But we think more can be done when
it comes to encouraging, for example,
green and resilient infrastructure, energy,
motor and supply chain solutions. We
hope that we can work with our brokers
and customers to develop those oppor-
tunities in the years to come.”
IMPRINT Environmental plea:
Think before you print!
Disclaimer:
Information appearing in unisonTimesTM is
checked for technical accuracy but is not
intended to provide a basis of knowledge
upon which advice can be given.
unisonSteadfast accepts no responsibility
for any loss occasioned to any person acting
or refraining from action as a result of the
material included in this newsletter.
unisonSteadfast AG
Chilehaus C | Burchardstr. 13
20095 Hamburg | Germany
Tel. +49 (0)40 – 8090729 – 0
Fax +49 (0)40 – 8090729 – 99
unisonSteadfast Corp.
200 S Wacker Drive | Suite 3100
Chicago | IL 60606 | USA
Tel: +1 (312) 67 44 939
Fax +49 (0) 40 80 90 729 99
www.unisonsteadfast.com
Editorial Team:
+ Melinda Keller (Chief Editor)
+ Susanne Adolphy (Graphics Design)
+ Polina Balko
+ Rolf Diekhoff
+ Lioudmila Evlaeva
+ Oliver Koops
