Insurance Management

insuranceManagementAt Paramount we cut through the intricate world of insurance to provide cost effective and comprehensive insurance cover that gives each property owner peace of mind.

We are not tied to any brokers and do not accept any commissions from insurance brokers for placing your business and are extremely proud of our commitment to pass all negotiated reductions in insurance premiums back to you the owner.

Our insurance rates continue to be significantly lower than other developments and we have a 100% satisfactory rating in the administration and settlement of insurance claims.

Our insurance services include:

Valuation

  • Regular professional reinstatement valuations of buildings
  • Assessment of bespoke plant and machinery values
  • Reviews of public liability cover
  • Assessment of possible deficiencies in cover
  • Correct level of cover for Directors and Officers
  • Evaluation of Employers liability
  • Agreeing alternative accommodation / loss of rent provisions

Procurement

  • Competitive tendering for brokerage services
  • Annual tendering for insurance cover renewal
  • Compliance with statutory regulations
  • Placing of Cover
  • Prepare budget
  • Analysis of tenders
  • Satisfaction with premium, terms and conditions of policy
  • Ensuring competitive excess rates

Analysis of tenders

  • Satisfaction with premium, terms and conditions of policy
  • Ensuring competitive excess rates

Administration

  • Paying premiums
  • Entertaining and processing claims
  • Fast turnaround of claims
  • Implementation of risk assessment reports to achieve lower premiums
  • Compliance with insurer’s inspections and reports
  • Simple and straight forward amendment of policies to policies
  • Registration of Owner’s / Mortgagee’s interest

Performance

  • Premium rate details for each property
  • Information on how we insure, including commission rates and excess amount
  • More detailed breakdown of premiums
  • Total premium comparison to the previous year
  • Valuation comparison to the previous year
  • Listening to feedback and suggestions

Register of claims

  • Record details of all claims
  • Identify and address frequent claim types