Introduction. | Insurance Claims. | Insurance Inspections. | Insurance Risk Management. | Insurance Risk Management Services. | Professional Fee. | Glossary (A-F) | Glossary (G-Z)

Irfan Hassan Dar & Co. (Pvt) Limited. Lahore, Pakistan.
Extensive & Distinct 4 Dimensional, Insurance Risk Management Services. Large organizations employ full-time, qualified insurance risk managers to monitor insurance coverage issues and ensure financial stability as well as cost-effective administration of their insurance programs. For organizations without internal risk-manager, these services are widely available on a contractual basis, typically spanning 6 to 12 months. These contracts achieve the same strategic objectives and ensure efficient, cost-effective insurance renewals accurately aligned with actual risk profile.
Scope Of Work & Professional Fee Structure: Insurance Coverage Analysis & Alignment. Study complete insurance program, review stock positions & evaluation report to check insurance coverage gaps. Conduct detailed risk audit & inspection to double check insurance coverage alignment with actual risk profile, pinpoint critical areas and their corresponding insurance coverage gaps. Examine insurance wording to identify & resolve confusing or conflicting issues. Recommend measures to maximize insurance coverage alignment with actual risk profile. Deliver: Detailed analysis on insurance coverage covering all sections. Service Duration: 10 working days after complete risk audit & inspection. Professional Fee: 3.00% of annual premium. Minimum charges Rs. 300,000/- Out-station travelling expenses are charged separately. Evaluate Insurance Premium Ratings. Physically check competitiveness of premium rates for individual risks & perils during inspection. Examine division & distribution of risk. Verify safety systems and evaluate possible discounts in premium rates. Suggest opportunities to safely lower premium rates. Deliver: Premium rating analysis for individual risks & perils covering all sections. Service Duration: 5 working days after complete risk inspection. Professional Fee: 1.00% of annual premium. Minimum charges Rs. 100,000/- Explore & Implement Realistic Risk-Improvement Solutions. Thoroughly examine sections with high premium rates during physical inspection. Explore risk improvement solutions through risk-management techniques & loss control mechanism. Employ collective wisdom with coordinated administrative effort to mitigate inherent hazards. Elevate operational safety while keeping your risk profile aligned with your policy. Implement risk improvement solutions and monitor results for a ‘90’ days period. Deliver: Section wise details of risk improvement solutions. Service Duration: 10 working days after complete risk inspection. Professional Fee: 2.00% of annual premium. Minimum charges Rs. 200,000/- Establish Insurance Claims Protocols. Review policy mandates for reporting, investigating, documenting, and settling insurance claims. Build a custom claims management framework aligned precisely with your coverage. Define exact action steps and compile mandatory documentation checklists. Deliver: Detailed claim reporting manual with loss mitigation guidelines and documents checklist. Service Duration: 10 working days after complete risk inspection. Professional Fee: 1.00% of annual premium. Minimum charges Rs. 100,000/- Payment Terms: Advance Mobilization Fee: 50% required upon signing the Scope of Work to initiate the services. Final Settlement: 50% due immediately upon delivery of the final reports and blueprints.