SCAIR® can help to determine the direction for appropriate risk financing strategies
Loss estimates generated by this process can improve your negotiating position at insurance renewal.
Insurance coverage can be expanded to fill gaps in cover revealed by the process, and to include new types of ‘non damage’ business interruption risks.
Up-to-date loss profiles can influence the setting of internal risk retention levels.
Access to Innovative Cover
For the newly created Non Damage Business Interruption coverage developed by JLT, SCAIR® has been effectively “endorsed” by the global insurers involved as the tool to value the Business Interruption Exposure during the underwriting process.
While no insurer will agree pre-loss to any particular valuation approach for Adjustment, the methods and logic of SCAIR are supported as a good starting point for negotiation
From Lloyds of London:
“Market first helps pharmaceutical chiefs sleep at night”
Lloyds Underwriter Kiln and Broker JLT (Jardine Lloyd Thompson) use SCAIR® to address changing risks in the Pharma sector.
See the article here