Page 1 - Communique - Raghnall Insurance Broking 21.9.20

21.09.2020 / MONDAY Volume 1 I Issue No 3

COMMUNIQUE

BRIEF ABOUT PAGE 1

RAGHNALL INSURANCE BROKING

AND RISK MANAGEMENT PVT. LTD

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