Page 1 - Communique - Raghnall Insurance Broking 21.9.20
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21.09.2020 / MONDAY                                                                                                Volume 1 I Issue No 3


          BRIEF ABOUT                                                                                  PAGE 1



        Raghnall Insurance Broking & Risk Management Pvt. Ltd (RIB) has been formed with the primary objective of providing risk
        based advise to Commercial and Private Clients.
        Our aim is to provide a consistently high level of service to help our clients identify and assess risk with a view to recommending
        the optimum insurance solutions. Our success is based on our professionalism, independence and a commitment to always
        putting our clients' interests first.
        Our Commercial Solutions Team provides expertise and advice across the full spectrum of corporate and business risks working
        with a diverse range of clients to provide them with the right solution for their insurance requirements at a competitive and
        sustainable price.
        By choosing RIB for your insurance needs, you are reassured of the commitment and expertise of our specialist team operating
        across all sectors and in areas such as Commercial risks, Employee Benefits, Individual Risk & Claims management.
                                                                                WHY ARE WE DIFFERENT
                                         From The Editors Desk
                                                                                 At RIB we help our clients obtain the
         The  impact  of  Covid  19  pandemic  on   businesses stop, the insurance policy provides   right insurance product for their
         economy and businesses has been quite   indemnity  for  the  loss  of  profit  during  the   business, at the right price. We do
         unprecedented.  No  risk  manager  could   period of shutdown due to the insured peril.   this by following three simple steps:
         predict the severity of the pandemic and   In case of Covid since this was a pandemic it
         its possible impact. In the known human   was  not  covered  under  the  terms  of  the
         history  this  was  one  of  the  severest   insurance policy. Possibly the insurers would   We  take  the  time  to  really
         pandemic which had hit every part of the   like to bring new extension/add-on covers to   understand your business.
         world.                            provide coverage in this situations. Also there
         The business enterprises would obviously   are  possibility  of  bringing  standalone  covers   We provide expert advice on
         look  for  Business  Interruption  covers  to   for Business Interruption. Post this pandemic
         recover losses of business income during   the  demand  for  such  tailor-made  cover  will   managing your risks.
         the  crisis  period.    The  Business   arise.
         Interruption cover usually pays for loss of    These type of emerging risks must be studied   We  go  out  to  the  insurance
         net  profit,  any  standing  charges,  and   in more in-depth and possible solution through
         increase  in  working  capital  costs  due  to   insurance must be thought of. These risks are   market  and  secure  the  best
         interruption  in  the  business.  Once  this   quite unpredictable and may even endanger   deal for the cover you require.
         crisis  started  Business  enterprises   the  survival  of  the  business.  Getting
         explored  the  possibility  of  coverage  of   Reinsurance support for this kind of policies    ‘‘
         these  losses  under  existing  insurance   will also be challenging.        It takes nothing to
         policies.                          This pandemic has been of low frequency but    join the crowd but it
         Traditionally  the  Business  Interruption   high impact event. There is a dire need to pre-
         covers across the world has been provided   empt/explore possibility of similar calamities   takes everything
         as an extension to Fire Insurance policies.   in  future  and  prepare  a  proper  Risk   to stand alone
         When there is a loss or damage caused by   Management  plan  to  manage  such
         the insured peril and the operations of the   eventualities effectively.                         ”
                                                                                               - Hans Hansen
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