Comprehensive and professional analysis of the existing insurance policies with regards to the wordings, endorsements, schedules, special terms and conditions and adequacy of sums insured and to ensure that these are in line with international standards and practices, the analysis will include the following policies:
In Respect of Medical Insurance Policy (Emirate of Abu Dhabi) and as per the doctrine of the law No. 23 for the Year 2005, our service will be concentrated on:
Review of insurance provision in various contracts to be entered in to by the client including review and comment on all parties’ rights and obligations in relation to insurance, considering commercial aspects of the transaction, the agreed risk allocation between the parties, appropriate levels of indemnity and UAE insurance legislation and regulations.
For each contract we would propose drafting on insurance related clauses and to review policies taken out by M/s the client counterparties in line with the international practice in this respect and to ensure compliance with contractual obligations.
The type of contracts in question include, but are not necessarily limited to, construction contracts, facility management contracts, professional services agreements, concession agreements, lease agreements and minor works contracts.
Review the client assets and activities on an annual basis and identify any gaps in relation to existing insurance coverage (for example, non-existing insurance policies and/or inadequate provisions in current policies and contracts).
To perform the review, the undertaking of documentation reviews, interviews with staff (and possibly other stakeholders) and inspections of relevant locations across the Emirate of Abu Dhabi will be required.
The review will be concluded in a report submitted to the client which identifies the gaps, recommends remedial action and provides estimates for budgeting purposes of the premium costs. Un-insurable risks shall be identified with recommendations for mitigation. The report should also
Highlight relevant main trends and developments in the insurance industry that are of relevance to the client
Preparing Claim files including all documentary information to be submitted to the insurance companies and entering into joint negotiation for claim's settlement and coordinating with the client for the collection of claims funds from insurance companies.
We will be following the renewal tendering process where we bear the full burden of preparing all necessary and relating documents formatted in a very professional manner to be tendered in the market for quotations. This process will be in full cooperation with the client concerned staff represented by the Financial Manager and Operation Manger or any other staff in relevant field of operation and experience by holding 3-5 extensive meetings tackling all relating issues with the intention of having the permission of the client to go ahead with the information repaired . We will be taking the following steps in this regard:
Special Methodology on Risk Management to be implemented for Annual Insurance Review:
As your are aware of the importance of risk management in eliminating the hazardous factor surrounding the Branches and its major role in keeping these Branches working properly and effectively in respect of fire fighting & safety measures, this also will have a positive impact on the terms and conditions of the insurance coverage, and could substantially enhance these terms to your benefit, our service in risk management includes:
We confirm maintaining all information provided by the Company to us relating to the Company's business and operation as strictly confidential and shall not disclose the information to third party(s), except as required for the performance of the our obligations as your consultants, without the Company's prior written consent.
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