Zurich solutions for corporates

Transcription

FOR BROKERS
Zurich solutions for corporates
Across Asia Pacific
Contents
Why choose Zurich
01
Managing tomorrow’s
risks with today’s insights
Our solutions
03
Accident and health
Captives
Zurich International Programs
Risk engineering
Casualty – Employee compensation
Casualty – Environmental damage and pollution legal liability
Claims
Casualty – Public and product liability
Casualty – Product safety and recall
Summary of
solutions by country
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Construction
Corporate life solutions
Credit and political risk
Energy – Casualty
Energy – Offshore exploration and production
Energy – Onshore
Financial lines – Directors and officers
Financial lines – Employment practice liability
Financial lines – Financial institutions
Financial lines – Manufacturers‘ professional indemnity
Financial lines – Professional indemnity
Financial lines – Public offering of securities insurance (POSI)
Financial lines – Security and privacy
Marine – Cargo and liability
Marine – Fine art and specie
Motor fleet
Property
Surety
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Helping you to help your clients
In this guide you will find a comprehensive overview of the
many solutions that Zurich can offer to our mutual
customers across Asia Pacific.
As well as highlighting the key covers provided by each solution, we have included information on
available capacity, our appetite, and the benefits of recommending us to support customers for each line
of business. We would be delighted to tell you more about what we can offer, so please get in touch
with the contacts listed in each section who will be more than happy to share their knowledge,
expertize and insights.
We hope you find this guide useful and look forward to working with you and our mutual customers in
the future.
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Why choose Zurich
Managing tomorrow’s risks with today’s insights
A changing world can bring new opportunities, but it can also add unexpected
complexity and challenges to the management of business risks.
At Zurich, our goal is to provide the help our
customers need today and the flexibility to
change with their needs over time. It could be a
tailored insurance solution required to protect an
asset in a distant country. It could be a risk
engineering insight that will help make a
manufacturing process safer for employees. It
might be an international program flexible
enough to help protect operations in 180
territories. It could be an innovative corporate life
soutions program able to provide consistent
employee benefits locally as well as to mobile
workforces around the world. It might even be a
tailored solution to optimize pension liabilities. Or
it could be working with our customers’ captive
to optimize their retention levels.
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Delivering what matters when it matters is at the
core of Zurich’s customer-focused way of doing
business. We aim to be the best insurance provider
as measured by our customers, brokers and
employee benefit consultants. We strive to add
value far beyond simply assisting customers in
dealing with immediate risk management needs.
And we place particular emphasis on responding
in ways that customers tell us they most value,
including our relationship management culture,
the level of knowledge delivered by our underwriters
and the access we provide to key decision makers.
All areas where we are told we are doing well.
Supporting these and other critical values is a
culture of continuous improvement that challenges
our people to be even better and more customer
focused tomorrow than they were today.
Why choose Zurich
We have the financial resources to help meet
your risk management and employee benefit
needs. We provide integrated, consistent services
that extend across both general and life insurance
lines of business. We combine global reach with
deep risk insight and a determination to make it
easy to do business with us. And we deliver the
services of a worldwide claims organization that
provides the help customers need when and
where they need it.
 A leader in centrally managed, international
programs, with more than 4,500 such programs
around the world.
A committed relationship
Zurich believes the best solutions are those
resulting from strong, committed relationships
focused on meeting our customers‘ risk
management and employee retention challenges.
For customers seeking to develop sustainable
relationships with Zurich, a relationship leader will
coordinate a team of professionals with the
knowledge and depth of experience to design the
most appropriate program of solutions and value
add services. Once the program is in place, a
relationship leader will continue to work with the
customer to facilitate that their program keeps
pace with changing business needs and to help
avoid costly coverage gaps.
 Today, one of the few truly global insurers, with
a service network delivering capabilities in more
than 200 territories.
 A network of over 900 risk engineering
professionals in 40 countries, whose local
perspectives and risk insights help make a
difference in the mitigation of cost of risk.
 A worldwide claims organization with more
than 8,000 claims professionals.
 An expanding portfolio of innovative solutions.
The team at Zurich
Zurich’s highly skilled and experienced underwriters
will work with customers and brokers to understand
the business needs and tailor products, solutions
and capacity to help meet the risk management
needs and business objectives.
Zurich’s risk engineers work with customers,
brokers and underwriters to develop the
appropriate insurance program for our customers’
business. In addition they will provide risk insights
that can have a material impact on assisting
customers to avoid and reduce losses, thereby
helping to manage the total cost of risk.
Key contacts
Keith Thomas
Chief Executive Officer
Zurich Global Corporate Asia Pacific
Tel: +852 2977 0781
[email protected]
Kevin Leong
Head of Sales, Distribution and Market
Development
Zurich Global Corporate Asia Pacific
[email protected]
Zurich claims professionals work with customers
and brokers before, during and after a loss event.
Their experienced advice can help mitigate claims,
deal quickly and resolutely with those that
happen, and evaluate the circumstances of a loss
to help prevent similar events in the future –
giving greater control over the total cost of risk.
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Why choose Zurich
Zurich International Programs
At Zurich, we’re proud of our ability to help protect businesses that operate
internationally. For nearly 40 years, we have built a powerful network of Zurich
offices and insurance partner companies that gives our customers consistent,
excellent service wherever they operate.
 A dedicated team taking a ‘whole account’
approach to building, transitioning and
managing the program.
 Programs to suit companies of various
sizes, customized and aligned to fit the
customer’s business strategy.
 Cross-border regulatory alignment
which helps align policies with the
many applicable country tax and
insurance regulations.
 Fast cash flow from our network to the Zurich
office managing the master program so funds
can be transferred quickly.
 One global service platform which provides
premium invoice and policy issuance delivery,
supports the movement of premium and helps
with claims payment handling.
 Loss data and risk analysis for programs
with My Zurich, our industry leading customer
and broker portal.
 Rapid policy issuance and other performance
metrics tracked and communicated to
customers and brokers in comprehensive
service reports.
The Zurich difference
Managing one of the world’s largest networks
spanning over 200 countries, Zurich is a market
leader and has earned the trust of our customers
to take care of their global insurance needs.
Additionally, with our strong credit ratings,
Zurich has a firm foundation of financial strength.
This means we’re able to provide a broad service
offering, from structuring programs to managing
claims. To ensure a consistent standard of
insurance protection, we offer:
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Benefit from Zurich’s strong and
efficient network
Zurich’s global network is managed through an
innovative system of regional Zurich Hub offices
and carefully selected local insurance partners
who are leaders in their countries and
strategically located around the world. The Zurich
Hubs are staffed by insurance professionals who
understand the laws and cultures of the regions
they cover, giving them the ability to apply local
knowledge to global programs and to ensure
consistent service across the network.
Our network includes:
125,000 claims handled
200+ countries covered
900 risk engineering professionals
2,000 professionals dedicated to
worldwide
managing international programs
40 people dedicated to managing
6,000 international insurance
insurance partners around the world,
in addition to our central network
management team.
programs managed
8,000 claims professionals
A dedicated team to manage programs
A Zurich International Program is led by a
dedicated single point of contact and supported by
a team of customer service specialists who provide
transparent communication and collaborate with
customers and brokers throughout your program’s
life cycle. The Zurich team includes:
 Attentive service specialists who make sure
the program is delivered efficiently and on time.
 Experienced claims professionals with a
global and local perspective.
 Specialized risk engineers dedicated to
helping reduce operational risk, safeguarding
employees and avoiding environmental damage.
 Dedicated international underwriters
working with customers and broker using
Zurich’s exclusive Country Guide, a
comprehensive internal database that includes
vital country-specific underwriting information.
My Zurich provides:
 Transparency and detailed information on
insurance cover, claims and risk assessment.
 Access to global risk engineering expertize
and risk improvement actions.
 Our award winning compliance tool, the
Zurich Multinational Insurance Application
(MIA) brings clarity to complex multinational
insurance programs by ensuring alignment
with local insurance regulations and premium
tax obligations.
At the heart of our approach to international
programs is our proprietary International
Program system (IPS). This application integrates
customers’ data into one worldwide platform.
It links Zurich’s own offices, and direct partner
companies, enabling the steady flow of
information necessary to manage
international programs.
 Skilled captive professionals across the
globe who help deliver a consistent awardwinning captive fronting program.
Key contact
Zurich’s industry-leading tools give
customers more control
Head of International Sales and Distribution
Zurich Global Corporate, Asia Pacific
[email protected]
Tel.: +41 78 723 8037
My Zurich is a secure risk management centre
that helps our customers to control their
insurance and risk engineering programs. It
combines real-time data, Zurich and market
intelligence, and analytics – all helping them to
make the right decisions. My Zurich is accessible
24/7 online wherever our customers are.
Fernando Denes
For more information:
www.zurich.com/internationalprograms
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Why choose Zurich
Risk engineering
Our risk engineering pedigree
Risk engineering is fundamental part of the Zurich service comprising of a
global network of technical risk management teams with local representative
offices in 40 countries.
Zurich risk engineering, established globally in
1978, now employs over 900 risk professionals,
undertakes more than 60,000 customer risk
assessments annually and manages over 800
global risk engineering service programs.
Our global capabilities present a network of
specialist Property, Construction, Liability, Fleet,
Marine and Strategic Risk Consultants with practical
experience across a wide range of industries.
Their approach is backed by Global Centers of
Expertize to ensure a consistent and state-of-the-art
global approach to risk assessment.
Zurich risk engineering’s philosophy
Understanding and flexibility that fits
customers‘ business needs
Our partnership approach provides a well-proven
and successful model for effective risk
management. Being a reliable partner means
delivering the right types of risk management
services at the right time. By understanding
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business, with highly qualified professionals,
drawn from across all industry sectors, we
offer meaningful advice tailored to customers‘
risk management principles and philosophy.
We are pragmatic in our approach and will never
tell customers to act in certain prescribed ways.
Instead, we will work with customers and brokers
to identify best-fit solutions and will remain agile
enough to meet changing requirements and
evolving risk scenarios. We will also actively
support and help customers manage the risk
improvement advice that we provide them with.
Insight that goes deeper
The efficient flow of up-to-date information is
vital to enable our customers to assess the risks
they face and make informed decisions. We
leverage all the risk assessment data we collect
globally so that accurate benchmarking
comparisons are made to measure and improve
the customers‘ risk profile. We also link our risk
engineering assessment data with Zurich’s
underwriting philosophy, ensuring our customers‘
premiums accurately reflect their risk exposures.
Best practice and local compliance
Our advanced analytical methods prioritize threats
by taking a comprehensive view of exposure.
Our experts strive to ensure risk management
activity is compliant with local and international
legal requirements and our risk engineering
teams will spend much of their time providing
face-to-face support and dialogue with customers
to ensure a pragmatic risk management strategy
is both created and executed.
Knowledge sharing and training
We continually invest in the training and
development of our Risk Engineers, to ensure
that their skills remain up to date and abreast of
current risk management thinking. This provides a
basis for us for continuous best advice to our
customers. We are also happy to share this
knowledge with risk managers and plant
personnel using well-established training programs
based on more than over 30 years’ experience.
Key contacts
Asia Pacific Region
Grant Jensen
Chief Risk Engineering Officer
Zurich, Asia Pacific
Tel: +61(0)401 782 077
[email protected]
Mervyn Rea
Head of Risk Engineering
Customer Management
Tel: +61(0)3 9940 6634
[email protected]
Asia Pacific at a glance
 We have 50 risk engineers, located in 10 countries –
spanning from India across to Japan, north to China
and south to Australia/New Zealand.
 Over 3,000 customer site assessments annually
 10,000 risk assessments
 Our local risk engineers work in partnership with
regional specialists in International Program servicing,
construction, marine, product liability, power
generation, mining and petroleum/petrochemical/gas.
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Why choose Zurich
Claims
In Asia Pacific our claims value proposition is built around the concept of
bringing the best claims professionals together to create a team to deliver a
unique customer experience which is relevant to our customers' needs.
Here are the core components of our value proposition are:
1. Our claims management relationship with customers will be exclusively overseen by a dedicated claims specialist.
2. Regular and open communication and access to quality claims data and information.
3. Caring and empathetic claims professionals who are trained in the Zurich Way of Claims.
4. Clearly articulated claims process with time frames and agreed outcomes.
5. Partnering with our customers to deliver insights and claims solutions bespoke to their business.
6. Global networks to leverage capability, technical expertize and claims solutions.
Claims Account Management –
working together
We will work with our customers’ and seek to
understand their requirements, tailoring our claims
services to deliver on these through the creation
of customer claims protocols. The Claims Account
Team is an integral part of our service delivery in
Asia Pacific to keep our customers informed of
relevant legal developments, offering risk insights,
product support, vendor support, and ways to help
improve claims performance and risk
management.
Our team will provide claims/loss scenario modelling
workshops to help create certainty for our customers.
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Understanding how the policy will respond, potential
loss costs and what decisions need to be made
following large and complex losses helps our
customers to be better prepared in the event
of disruption to their business.
Access to a Claims Account Manager ensures
that our customer’s portfolio of claims is
managed in line with the agreed protocol
and that their tailored solution is consistently
delivered. Whether key concerns are cost
mitigation, brand reputation or employee
welfare, our claims account managers will
ensure the delivery of Zurich's claims handling
reflects our customers' priorities.
Claims data analytics are a key component
offering and we will work with our customers to
provide a high quality of claims data for
continuous risk improvement.
Global Claims solutions – local solutions,
global reach
All of our customers have access to global claims
expertize through our network. Our claims
handling teams have the expertize to deal with
complex programs and claims solutions. We
maintain this through an extensive, continual and
robust staff learning and certification process and
utilising our Group's global best practices.
The team across Asia Pacific develops customer
relevant claims strategies and ensures the delivery
of these strategies through our internal and
external partners. Our responsibility is to provide
a consistent claim experience to global and
multinational customers, and to maintain
appropriate internal and external governance,
including claims regulatory matters, oversight of
outside claim partners, managing international
program network partners and the provision of
quality claims data.
We have a broad range of expertize in the claims
arena, which we utilize to minimize the disruption
to your business and expedite normalized returns
when a loss occurs. This includes:
1. Large loss management
2. Catastrophe management
(weather and man-made)
3. Disaster recovery service providers
4. Managed contractor networks
5. Brand and reputational loss management
6. Litigation management
7. Supplier management
8. Subrogation management
9. Employer rehabilitation programs
10. Continuous loss cost improvement programs
Claims service standards are utilized for all of our
customers so they know what they can expect.
Technical claims expertize – we deliver
when it matters
Our coporate claims experts in Asia Pacific reache
all of the major business lines, including: marine,
property, energy, engineering, casualty, motor,
financial lines, employer’s liability, accident and
health and specialty risks.
A customer’s claims are matched with
professionals with line of business, industry
knowledge and experience that best suite
customer’s business. The customer focussed
culture ensures our claims professionals partner
with customers and brokers to mitigate loss,
minimize business interruption and protect the
customer’s reputation. Our claims professionals
will attend on-site at large losses and engage in a
project management style claims response. We
will work through the policy and explore
commercial claim options and outcomes that best
suit the customers’ business.
In the event of major claims our claims experts
will endeavour to confirm coverage as quickly as
reasonably possible with early payments on account
to support the business as may be required in
sourcing alternate premises, supply chain needs,
replacement of damaged stock and other
emergency liabilities. We ensure collaboration in the
selection of experts, adjusters and legal providers.
This is our major claims promise.
Our technical offering is complemented by several
supporting functions, which aim to ensure
optimal financial, business and reputational
outcomes. These include:
 Our global fraud centre with local and
regional experts assisting our customers to
only pay valid claims.
 Our recovery centre with local and regional
experts meaning striving for loss cost
minimization and recovery of what is owed.
 Our governance and quality assurance centre
with local and regional means our customer’s
business is protected via claims best practices.
 Our vendor teams who with local and regional
experts seek the best possible price and quality
for services and materials is achieved.
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Why choose Zurich
Claims
Key contacts
Regional key contacts include:
Derek Martin
Darren Livengood
Chief Claims Officer
With expertize in property, energy, casualty,
financial lines and speciality risks
TeL: +612 9995 2472
[email protected]
Head of International Claims
Tel: +852 2977 0165
[email protected]
Phil Durrant
Head of Energy, Engineering /
Construction and Property Claims
Tel: +65 6236 2452
[email protected]
Each country has a dedicated claims team across all lines of business
headed by a chief claims officer who are listed below.
Country
Contact
Telephone
Email
Australia / New Zealand
Daniel Franzetti
+612 9995 1756
[email protected]
China
Wayne Mei
+8610 8454 7832
[email protected]
Hong Kong
Duane Perkins (acting)
+852 2977 0564
[email protected]
Japan
Kenji Naruse
+81 3 6832 8235
[email protected]
Singapore
GP.Teo
+65 6236 2473
[email protected]
We also have key claims account managers in the following countries:
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Country
Contact
Telephone
Email
Australia
Steven Kopti
+612 9995 2207
[email protected]
China
Wayne Mei
+8610 8454 7832
[email protected]
Hong Kong
Kevin Durrant
+852 2977 0191
[email protected]
Japan
Toru Ishibashi
+81 3 6832 8238
[email protected]
Singapore
GP.Teo
+65 6236 2473
[email protected]
Summary of solutions by country
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Captives
Casualty: Employee’s Compensation
Casualty: Product Safety and Recall
Casualty: Public and Products Liability
Construction
Corporate Life solutions
Credit Insurance and Political Risk
Australia and New Zealand
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Partners licence
Hong Kong
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Indonesia
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Taiwan
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Casualty: Environmental Damages
and Pollution Legal Liability
Accident and Health
Our solutions
Summary of solutions by country
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Via
Partners
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Subcontinent
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Partners
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Energy: Casualty
Energy: Onshore
Financial Lines: Directors and Officers
Financial Lines:
Employment Practices Liability
Financial Lines: Financial Institutions
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Financial Lines: Public Offering
Securities Indemnity
Financial Lines: Security and Privacy
Marine Cargo and Liability
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Motor Fleet
Property
Surety
Marine: Fine Art and Specie
Financial Lines: Professional Indemnity
Financial Lines: Manufadcturer’s
Professional Indemnity
Energy: Exploration and Production
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Our solutions
Accident and health
When a company makes the decision to purchase Zurich Accident and Health
insurance, it discovers the benefits and the recognition that comes from choosing
dependable cover to protect their most valued asset – their employees.
Our experience in providing Accident and Health
solutions to some of the biggest and best known
companies in the world means we know what
customers expect from us. We work closely
with customers and brokers to provide relevant
protection with seamless service.
Our solutions
Group Personal Accident
There is considerable duty of care on employers
to ensure that their employees are safe while
working. However, if something does go wrong,
the extension of this care is to provide protection.
Zurich’s Group Personal Accident products can
provide cover in the event of accidental bodily
injury, resulting in death or disablement including:
 Loss of sight.
 Loss of hearing.
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financial disruptions that occur while they are
travelling – both domestically and overseas.
With Zurich, business travel exceeding a set
distance from the traveller’s residence or business
premises is covered, including business trips to
visit clients and suppliers, as well as trips to
attend conferences and seminars.
The solution provides the protection for
unforeseeable situations while the employees
travel for business overseas. Our solution is
designed to help protect employees / insured
persons in these instances. We also provide 24/7
access to emergency assistance experts, 365 days
a year. Some of the main elements of our
solution can include:
 Overseas emergency medical expenses
and repatriation.
 Loss of speech.
 Cancellation, curtailment and
rearrangement expenses.
 Permanent total or partial disablement.
 Luggage and personal effects.
Our policy also includes a comprehensive range
of extensions designed to give our customers‘
the protection they need in the event of a
personal accident.
 Business equipment.
Business Travel Accident
Zurich Business Travel Insurance provides
protection for small and local businesses to large
multinational corporations. It provides company
directors and employees with insurance for
 Charter flights.
 Replacement expenses.
 Travel delay.
 Flexible limits.
All designed to give customers peace of mind
when they travel for business.
Australia and
New Zealand
China
Hong Kong
Japan
Malaysia
Singapore
Indonesia
Taiwan
Appetite and availability across
Asia Pacific
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Our appetite includes, but is not limited to the
following sectors:
 Engineering.
 Financial institutions.
 Hospitality.
 Manufacturing.
 Non-profit organizations.
 Researchers and academic institutions.
 Recreation.
Business Travel Accident – There are many
unforeseen events that can happen to employees
of a company, which can cause financial disruption
to either themselves or the business. These events
can occur 24 hours a day, seven days a week
while at work, outside working hours or indeed
while travelling either domestically or overseas on
behalf of the company. Our Accident and Health
Claims Team steps in to manage these events,
ensuring that our customer’s employees are well
looked after.
We understand the importance of having
assistance immediately in the event of an
emergency. The Zurich Assist Line is accessible
24 hours a day, 7 days a week. It can provide access
to a worldwide network of skilled doctors, medical
professionals and emergency assistance consults.
Our team focuses on resolving these claims as
efficiently as possible.
We have friendly staff with professional claims
handling experience. Globally, we have 97 years
of experience in the industry and ensure we are
empathetic and customer focused.
 Shipping.
 Transportation and logistics.
 Telecommunications.
Key contact
Mark Kopec 高坤武
Why choose Zurich
Our global network and capabilities means we
can offer Accident and Health insurance
programs covering multiple territories, in up to 70
countries. We coordinate and implement cross
border programs leaving customers in control of
their overseas coverage, avoiding language,
cultural and business barriers.
Head of Travel Insurance
Zurich General Insurance, Asia Pacific
Tel.: +852 2977 0119
[email protected]
Claims handling
Group Personal Accident – We look after
employees of a customer when they lodge a
Personal Accident and Sickness claim. We have
experts on our panels to assist and assess the
employee so that decisions can be made in the
best interests of the individual and the company.
Under this solution, our claims department can
assess what entitlements and lump sum payments
(if applicable) are payable to the employee to
assist in their time of need.
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Our solutions
Captives
Organizations whose risk management strategy includes a captive insurer,
need the help of insurers who not only understand the complexities involved,
but who also have the infrastructure and experience to help them to
implement solid solutions across borders.
We have been engaged in the international
captive services business for over two decades,
and currently manage more than 200 captive
frontings, involving around 350
cessions worldwide.
We can provide the know-how, infrastructure
and flexibility to help Organizations succeed in
today’s fast-changing risk management
environment by achieving optimal value
generation from their captive.
Our captive customers also benefit from our
international programs solutions and our
network capabilities in establishing and
servicing international captive programs
in over 200 countries.
Our solutions
Fronting
Over 40 years we have built a global network
across Europe, North America and Asia Pacific,
that allow us to develop consistent international
captive fronting programs on a tailor-made basis.
This gives captive customers:
 Certainty of compliance.
 Quantifying insurance risks.
 Quantifying volatility.
 Determining optimum risk retention levels.
 Resolving uncertainty of potential loss scenarios.
 Identifying alternative captive structures.
 Access to Zurich’s Global Network.
 Improving Insurance structure based on
risk appetite.
 Access to captive reinsurance contracts.
 Determining feasibility of a captive.
 Reinsurance administration.
Captive
Fronting
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Quantitative risk analysis (QRA)
is an essential tool for any risk manager wishing
to better understand and quantify the risk within
their captive and determine their optimum risk
retention levels:
Captive management and consulting
Our captive management services include:
 Board meeting.
 Monthly review of technical accounting.
 Management information.
 Rent-a-captive administration.
 Interaction with regulator.
 Review insurance contracts and statistics.
We can provide a number of captive consulting
services including:
 Feasibility studies.
 Deal structuring.
 Assessment of capital requirements.
 Formation of captives in Europe and overseas.
 Loss portfolio transfer.
 Implementation of CRISS solutions.
Tailor-made captive aggregates, cross class
and Multi-Year-Multi-Line aggregates
Be it single line or cross class, we can help to create
an aggregate structure that allows captive owners
to retain the risk they want the way they want.
Tailor made aggregates for the captive helps to
reduce any risk from multiple incidents to the
captive to fit with the risk appetite and comfort
level of the parent company.
Cross class aggregates help to extend the
aggregate across multiple lines, reducing the
impact of multiple incidents on various lines of
business to the captive, helping to limit the
exposure and worst case scenario of the captive
across multiple lines of business, to again match
risk appetite.
Management of reinsurance agreements
We have extensive experience with various
reinsurance markets around the world. We
manage the agreements with both the captive as
well as with the Reinsurance panel besides/above
the captive (Net Cession). This helps reduce the
exposure of the captive as compared to 100%
cessions to the captive and transfers any possible
gaps between fronting and reinsurance policy
from the captive to us and helps to access further
capacity around the globe.
Loss portfolio transfer
Large corporations and their risk management
strategies evolve over time and at some stage of
the lifecycle of a captive, the owners of a captive
company may seek an exit strategy.
Regardless of the reasons for the exit, one of the
attributes of an insurance or reinsurance company
is that from the moment a risk has been assumed,
the company is active until all financial and
regulatory obligations are totally extinguished.
Funding will be required for the life of the
company unless a way to transfer the financial
obligations has been agreed. Loss portfolio
transfers (LPTs) provide one way of achieving this.
Zurich can help to tailor each LPT and the proposed
solution that provides the best fit will largely
depend on the captive owners motivations.
Main benefits of LPTs usually include:
 Collateral restructuring.
 Improvement of solvency.
 Reduction of potential unpredictable volatility.
 Possible cash flow benefits for the
captive/parent.
 Shareholder value enhancement.
 Administrative savings.
Multi Year Multi Line coverage with term
aggregate is a further extension of the concept by
extending the time line to multiple years with a
specific aggregate for the term, limiting the exposure
across lines of business and the terms (usually
three years) again helping to aligning the captive
exposure with the strategy and risk appetite.
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Our solutions
Captives continued
The benefits are:
 High flexibility in creating it
 No capitalization
 Low implementation and administration cost
 Profit sharing mechanism
 Entitled to a Low Claims Bonus (premium
refund) in case of a better than expected
loss development  CRISS account shows
a positive balance
 Obligation to pay an additional premium if
loss experience has been worse than expected
 CRISS account shows a negative balance.
Collateral (The toolbox)
 Parental Guarantee
 Letter of Credit
 Pledged Assets
 Trust (eZ)
 Cash (Escrow account)
 Premiums withheld
 Bond
China
Hong Kong
Japan
Malaysia
Singapore
Indonesia
Taiwan
CRISS is a self-insurance instrument on a
contractual basis as a part of the existing
insurance program, which enables a customer
to participate in the loss experience of their own
risk (as an alternative to a reinsurance captive)
Asia Pacific
Australia and
New Zealand
Corporate Risk Insurance Sharing
System (CRISS)
Alongside captives, Corporate Risk Insurance
Sharing System (CRISS) is another self-financing
instrument which Zurich can offer.
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Why choose Zurich
When it comes to captives Zurich has unmatched
global scale experience encompassing over:
 6,000 international programs managed
representing USD 3.4bn GWP in international
programs in 2012
 209 captives covering 355 programs amounting
to USD 1.9bn in premium in 2012
 50% of international program GWP from
captive customers
 USD 31M premium in Life fronting
 200+ countries with fronting
 2,000 people dedicated to handle
international programs.
As an industry leader in captive services, Zurich
draws on 25 years of experience to help captive
owners realize the benefits of their captive.
 Broad, Award-Winning – Service Offer
Zurich provides captive analytics and fronting
services from a global team of experts
organized in Captive Hubs (Continental
Europe, United Kingdom, Canada, United
States and Asia Pacific).
 Global Support – From an Experienced Team
Our network services customers in over 200
countries and territories. Zurich Captive Hubs
include various relevant disciplines –
Underwriting, Reinsurance, Accounting and
Finance, Actuarial, Sales, Legal and Compliance
– and are equipped to handle complex captive
needs, including ceding your international
program risk to a captive.
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 Reinsurance Expertize – A wide range of
services and expertize allows customers to
accommodate and manage complex reinsurance
agreements embedded within their international
insurance program. Zurich’s proven technology
infrastructure and tools administer globally
consistent reinsurance transactions and facilitate
efficiency in cash flow.
 Credit Risk Exposure and Collateral –
We customize individual credit risk exposure
assessments for each fronting transaction to
allow the most flexible collateral options that
provide a cost effective solution.
 More Effective Captive Utilization – With an
international program covering multiple countries
and risks, customers can fully unlock their
captive’s potential to integrate and expand your
Enterprise Risk Management (ERM) program.
 Extensive Employee Benefits Network –
One of the most extensive available, our
employee benefits network helps customers
to create a captive program tailored to a
multinational risk management strategy
and workforce.
Key contact
Sean Welsch
Head of Captive Management and
Business Development
Tel: +852 297 70334
[email protected]
Visit
www.zurich.com/captives
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Our solutions
Casualty – Employee compensation
Any business can become the target of costly and potentially damaging liability
or personal injury claims. At Zurich, we will work with you strategically and
provide solutions that can help ensure their organization has the appropriate
plan in place before anything happens.
Japan
Malaysia
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Taiwan
Hong Kong
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Indonesia
China
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Singapore
Australia and
New Zealand
Asia Pacific
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We will underwrite a broad range of trades and
business activities, in support of other Zurich lines
and on a stand-alone basis. In relation to a small
number of trades, which are perceived to have
hazard exposures, we would seek to better
understand the customer’s risk management
standards and procedures, in order to provide
competitive terms.
Our solutions
Cover protects a customer for any compensation
required to pay if an employee suffers an injury or
accident at work. The compensation includes pain
and suffering and special damages (including loss
of income) and disadvantage on the labour market.
Cover includes compensation to dependants of
workers killed at work and compensation to the
State for benefits paid to the employee. The
policy also covers an employee temporarily
working overseas, additional activities and
terrorism cover.
Extensions are available to cover work offshore.
Renewal bonus included, on a case by case basis,
as an incentive for risk management and to
recognize positive loss performance. We offer a
flexible policy with the opportunity to choose
from a wide range of quality coverage options.
Capacity
We can offer statutory limits of up to AUD100
million in Australia or HKD600 million in Hong
Kong S.A.R.
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Why choose Zurich
can offer Employee’s Compensation insurance
program in Greater China, Japan, Australia, New
Zealand, Malaysia and Indonesia. We coordinate
and implement cross border programs leaving
customers in control of their overseas coverage,
avoiding language, cultural and business barriers.
Risk engineering
Specific to Health and Safety we can offer the
following risk engineering expertize:
 Health and Safety status review –
a baseline assessment of key health and safety
management issues and determination of the
adequacy of current systems and resources.
 Health and Safety risk assessment –
reviews of existing methodology, customized
assessments and strategy development.
 Corporate Standards development – helps
develop health and safety policies and procedures
through a review of existing systems,
documentation and organizational culture.
 Training – works alongside the customer to
identify employee training needs and develop
robust action plans. Our training practitioners
are specialists in their field, demonstrating their
competence in a wide range of safety-related
disciplines and industrial sectors.
Claims handling
Zurich offers a market leading claims service,
incorporating specialist and expert knowledge of
a wide range of injury and illness types. We have
adopted a customer focussed approach to claims
with casualty claims at the heart of this.
Our strategy is to drive complex claims to settlement
at the earliest opportunity via our access to market
leading expert from lawyers and counsel through
to loss adjustors and forensic accountant.
Key contacts
Echo Chen
Kartika Maharani
Charlie Chai
Casualty Manager – North Asia
Zurich Global Corporate,Asia Pacific
Tel: +852 2977 0761
[email protected]
Casualty Underwriter
PT Zurich Insurance Indonesia
Tel: +62 21 2939 1426
[email protected]
Jane Tung
Teresa Wong
General Manager /
Head of China Liability
Zurich General Insurance Company
(China) Limited, Shanghai Branch
Tel: +86 21 2089 5590
[email protected]
Head of Casualty
Zurich Global Corporate, Hong Kong
Tel: +852 2977 0951
[email protected]
Chief Underwriting Officer
Zurich Insurance Malaysia Berhad
Tel: +603 21468890
[email protected]
Ryoji Kato
Angela Duffy
WA Workers Compensation
Underwriting Manager
Zurich Financial Services Australia Ltd
Tel: +61 8 9261 1331
[email protected]
Senior Casualty Manager
Zurich Global Corporate, Japan
Tel: +81 3 6832 8807
[email protected]
Jenny Wu
Assistant Vice President
Zurich Insurance (Taiwan) Ltd.
Tel: 886 2 21815000 Ext.1726
[email protected]
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Our solutions
Casualty – Environmental damage
and pollution legal liability
With new environmental regulations and increasing public awareness of
environmental issues, businesses must face up to emerging and potentially costly
risks. Costly in terms of the impact to the balance sheet, the company’s reputation
and in major cases individuals can even face jail sentences. Environmental Damage
and Pollution Legal Liability insurance coupled with risk management strategies
can help protect businesses against unforeseen environmental risks.
Our solutions
Zurich offer a flexible and broad solution to address
the existing, new and emerging environmental risks
faced by companies operating in Asia Pacific. As a
provider of environmental insurance for over 20 years
globally, we have applied our industry insight and
market knowledge to develop an insurance solution
to meet the needs of our customers in Asia Pacific.
Our Environmental Damage and Pollution Legal
Liability policy has been designed to offer a
flexible solution that can respond to a wide range
of environmental exposures. It has the breadth
of coverage expected from Zurich that is flexible
to suit the needs of the customer
Coverage highlights include:
 Clean-up costs, relating to discovery and
third-party liability for on-site and off-site
pollution events.
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 Environmental damage costs, which provides
primary, compensatory and complementary
remediation to restore environmental damage
to protected species or natural habitats, surface
water or ground water and land.
 Personal injury and property damage including
third party diminution in property value.
 Loss prevention costs.
 Defence costs including claims expenses.
We can include as required:
 Transportation loss.
 Business interruption in respect of expenses,
loss of income and rental value.
 Contractor’s operational loss.
 Transportation and logistics.
 Realty including commercial, retail, light
industrial, residential, municipal, institutional.
 Facility management, security,
operation, maintenance.
 Institutional facilities including hospitals,
laboratories, schools, colleges, universities,
water treatment and works yards.
 Waste handling facilities including: Recyclers of
residential waste, oil, solvents, and electronic
waste incinerators.
If required, we can provide additional
protection through:
 Hazardous transfer, storage and
disposal facilities.
 Underground storage tanks, known pollution
events, product pollution liability.
 Landfills.
 Crisis management expense, automatic
acquisition and others.
 Waste water treatment plants.
 Agricultural.
Capacity
We can offer competitive capacity up to USD10
million for the right risks.
Australia and
New Zealand
China
Hong Kong
Japan
Malaysia
Singapore
Indonesia
Taiwan
Solution and appetite across
Asia Pacific
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All the countries above handle received business
with the exception of Japan, which also handles
domestically produced business.
Our Environmental Damage and Pollution Legal
Liability Insurance policy is available for a wide
range of companies across different industries for
either a single location or a large portfolio of sites.
Coverage can be provided on an annual renewal
or multi-year basis. Target industries include:
 Manufacturing including metal, chemical, high
tech and electronics, plastics, textile and associated
assembly, packaging, printing and labelling.
 Mining.
Why choose Zurich
Market leading expertize
Zurich has over 20 years of experience in the
Environmental Liability insurance market and
our liability team is recognized as leaders for
providing expert solutions and insights in their
local markets. We offer a full suite of casualty
solutions and help protect some of the world’s
leading companies wherever they have interests
around the world.
Key contacts
Echo Chen
Tel: +852 2977 0761
[email protected]
Ryoji Kato
Tel: +81 3 6832 8807
[email protected]
 Bulk storage, blending and distribution of
chemicals and fuels.
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Our solutions
Casualty – Public and product liability
Wherever there are people, mistakes are inevitable. If these mistakes result in
damages, a company's very survival could be at stake. We take time to
understand our customers’ needs and bring in experienced risk and claims
professionals to develop the right strategy for them. The result is a liability
solution that fits like a glove. So our customers can focus on staying ahead of
the competition – not looking over their shoulder for what might go wrong.
Australia and
New Zealand
China
Hong Kong
Japan
Malaysia
Singapore
Indonesia
Taiwan
Asia Pacific
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Our cover protects organizations ranging from
small and medium-sized companies to large
global corporations. Typically, we provide cover
for the following sectors:
 Agriculture.
Our solutions
We offer a broad spectrum of casualty solutions
to help customers to meet the challenges of a
changing world.
Core solutions
 Combined General Liability Insurance.
 Standalone Public Liability Insurance.
 Standalone Exporters Products Liability
Insurance.
 Excess Liability Insurance.
 Umbrella Liability Insurance.
For the above insurance solutions, we can write on
'Occurrence' and 'Claims Made' policy triggers.
We can also provide worldwide policy territorial
covers, which may extend to include North America.
We can provide various program structures,
to suite each individual customer’s risk
management appetite.
Our capacity
We can put up large capacity for customers that
share the same risk management philosophy as
Zurich and match our risk appetite.
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 Manufacturing.
 Retailers and wholesalers.
 Banks and financial services.
 Property owners and real estate / Real Estate
Investment Trusts (REITs).
 Business and personal services.
 Hoteliers.
 Shopping centres*.
 Electronics.
 Food and beverage.
 Cinemas and amusement parks*.
* We only underwrite shopping centres and
amusement park based on the quality of the risks.
Why choose Zurich
can offer public and product liability insurance
programs covering multiple territories, in up to
200 countries. We coordinate and implement
cross border programs leaving customers in
control of their overseas coverage, avoiding
language, cultural and business barriers.
Risk engineering
Our risk engineering team has a deep understanding
of risk, which means our customers can depend
on us to help protect them against business
litigation in relation to personal injury and third
party damage, while minimising the overall cost
of risk. Specific Public and Products Liability
related risk engineering services we offer include:
General Liability
Risk assessment of the responsibilities of property
owners and occupiers towards third parties, and
their property. This can include injuries sustained
to third party contractors and visitors to premises,
or damage caused by unregistered mobile plant
and equipment.
Product Liability
Risk assessments covering property damage or
personal injury caused by manufacturers or
suppliers of goods that are defective.
Manufacturers and suppliers can even be liable if
they were unaware of the inherent faulty defect
that caused the injury or damage
Risk grading and benchmarking
Set of tools specifically developed to ensure
consistent assessment of a broad range of
exposures across a variety of locations. This
enables risk exposures and controls to be
evaluated consistently and systematically to
identify vulnerabilities or weaknesses. It also
enables benchmarking across multiple locations
and business segments.
Claims handling
When a claim does occur our priority is to help
our customers protect people as well as their
business. Our Casualty claims professionals have
speciality expertize and knowledge of a wide
range of injury and illness types. Benefits of our
claims team include:
 Practice leaders in Casualty with years of
expertize and understanding to deal with
these types of claims quickly and efficiently.
 Field force of highly experienced claims
inspectors to carry out site investigations and
collation of documentation. Access to a panel
of loss adjustors who can mirror the claims
inspectors across territories.
 Medical Management Centre – rehabilitation
is a key tool in managing injury claims.
For the majority of claims we seek to offer
rehabilitation to result in a quicker recovery.
This leads to reduction in claims costs and
speedier resolution.
Key contacts
Underwriters
Risk engineering
Echo Chen
Charlie Chai
Global Corporate, Asia Pacific
Tel: +852 2977 0761
[email protected]
General Manager /
Head of China Liability
Zurich General Insurance Company
(China) Limited, Shanghai Branch
Tel: +86 21 2089 5590
[email protected]
Mark Hunt
Head of Liability – Corporate
Zurich Global Insurance, Australia
Tel: +61 2 9995 1526
[email protected]
Ryoji Kato
Zurich Global Insurance, Japan
Tel: +81 3 6832 8807
[email protected]
Leslie Chew
Manager, Casualty – South East Asia
Zurich Global Insurance, Singapore
Tel: +65 6236 2449
[email protected]
Mervyn Rea
Senior Risk Engineer, National RE
Customer Relationship Manager, Head
of RE Customer Management, APAC
Level 10 , 505 Little Collins St
PO Box 232
Melbourne VIC 3000
Tel: +61 (0)3 9940 6634
[email protected]
Asia
Jane Tung
Tyde Dickson BEng (Chem), BA
Head of Casualty, Corporate Division
Zurich Global Insurance, Hong Kong
Tel: +852 2977 0951
[email protected]
Senior Risk Engineer – Asia Pacific
Zurich Insurance (Taiwan) Ltd
Tel.: +886 (2) 2181 5026
Mobile : +886 (0) 988 763 098
[email protected]
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Our solutions
Casualty – Product safety and recall
As a result of increasingly complicated product safety challenges, manufacturers,
wholesalers, distributors and retailers are more frequently turning to product
recall insurance in order to protect their brand and balance sheet.
Zurich’s Product Safety and Recall Insurance
provides a market leading combination of recall
planning and preparation advice, broad coverage,
plus post-loss crisis consultancy to help minimize
the impact of these risks.
Policy trigger event
 Accidental contamination or accidental defect
of a product.
Our solutions
 Malicious tampering of a product.
How Zurich can help:
 Competitive product recall cover designed to
meet the needs of corporate organizations in
challenging times.
 Malicious publicity.
 Flexible, unbundled coverage options including
stand-alone accidental contamination and
accidental defect cover.
 Greater balance sheet protection with
indemnity periods of up to 24 months for loss
of gross profits.
 Variable single loss limits and aggregate loss limits.
 A simplified, single policy covering food, drink
and consumer products.
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Coverage
We offer broad coverage that protects business
 Product extortion.
Insured products
 Within customers care – eg. within the
warehouse and during transportation
 Outside customers care – eg. once the product
has reached the retailer
Key contacts
Loss coverage
 Consultant and advisor costs.
Underwriters
 Product recall costs.
Echo Chen
 Third party recall costs.
Tel: +852 2977 0761
[email protected]
 Replacement costs.
 Rehabilitation expenses.
 Business interruption.
Mark Hunt
 Extortion costs.
Head of Liability – Corporate
Zurich Global Corporate, Australia
Tel: +61 2 9995 1526
[email protected]
 Defence costs.
 Additional expenses.
Capacity
For the right risks we can offer significant
capacity of up to USD 25 million or more.
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Singapore
Japan
Recall expense
endorsement
only
Hong Kong
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China
Australia and
New Zealand
Asia Pacific
Recall expense
endorsement
only
Why choose Zurich
Risk engineering
Our risk engineering team can help customers
assess the adequacy of their product safety
systems and recall plans and providing best
practice risk improvement advice. We also can
provide access to our appointed crisis consultancy
partners to help prepare for a recall and minimize
damage to the brand.
Ryoji Kato
Tel: +81 3 6832 8807
[email protected]
Risk engineering
Mervyn Rea
Senior Risk Engineer
National RE Customer Relationship Manager
Head of RE Customer Management, Asia Pacific
Tel: +61 (0)3 9940 6634
[email protected]
Asia
Tyde Dickson BEng (Chem), BA
Senior Risk Engineer – Asia Pacific
Zurich Taiwan
Tel.: +886 (2) 2181 5026
Mobile : +886 (0) 988 763 098
[email protected]
Claims handling
We have dedicated claims professionals to ensure
a rapid response and settlement.
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Our solutions
Construction
Zurich has one of the best specialist construction underwriting teams in Asia
Pacific. We are well respected by our customers and brokers for our expertize,
knowledge and understanding of local markets.
Our underwriting team enjoys very wide
underwriting authority and autonomy. Our
customers and brokers have access to decision
makers who are able to provide a quick response
to enquiries.
We provide specialist risk engineering experts
who understand customer needs in construction
and are accustomed to handling large
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complex risks and exposures. We also provide claim
solutions, supported by a specialist claims team.
We are and have been the lead insurer for major
construction projects located accross Asia Pacific.
We also provide coverage and support for customers
for their interests and investments in other regions.
Our solutions
Why choose Zurich
Construction All Risks (CAR) –
Building and Civil work:
We offer bespoke insurance solution on
construction projects where our specialist risk
engineering and claims capabilities add value to
our customers and brokers. Our expertize spans
across industries such as:
 Buildings.
 Infrastructure projects.
 Major civil engineering structures.
 Rails and roads, tunnelling, wet risks.
Erection All Risks (EAR) – Industrial Plants
 Power generation and nuclear, hydro/dams.
 Power generation.
 Mining, steel/aluminium mills/pulp and
papers/cement plants.
 Oil, gas and petrochemical plants
(including pipelines).
 Civil engineering completed risks/bridges.
 Mining.
 Utilities.
 Manufacturing and process plants of all types.
Our capacity
We have market leading capacity that enables us
to lead large complex projects.
Australia and
New Zealand
China
Hong Kong
Japan
Malaysia
Singapore
Indonesia
Taiwan
Asia Pacific
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We also offer a holistic solution to our customers
across other major project-related speciality
covers such as project professional indemnity,
marine delay-and-start-up cover, construction
excess liability, surety and contractors bonds,
as well as trade credit and political risks.
Risk engineering
Our risk engineering approach is to understand
our customers‘ risks, help protect their business
assets and reputation, and minimize their overall
cost of risk, including uninsured expenses.
Most organizations have a need for construction
insurance at some point; we find our main
customers usually come from the following:
 Owners / Developers / Investors.
 Contractors.
 Infrastructure Managers.
 Utility Companies.
 Oil and Gas companies.
 Mining Companies.
 Manufacturers.
 Government or Public Authorities.
 SPV / PFI / PPP / Consortia.
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Our solutions
Construction continued
The comprehensive overview of site operations
utilizes our familiarity with industry best practices
to mitigate risks.
 The service is provided by professionally
qualified engineers with relevant and recent
experience of local, regional and global
construction practices
 Engineers with relevant disciplines (eg. civils,
power generation, petrochemical, etc.) are
utilized throughout the project life as required
 Many of our engineers have extensive loss
adjusting experience and are thus familiar with
procedures following a construction incident
 Our engineers provide an independent and
unbiased assessment that is intended to
complement site management’s approach to
risk management
 Risk improvement advices are fully discussed
with site management during the survey
 Services can include corporate to project level
review, compliance monitoring against corporate
policies, benchmarking, production of reports –
findings and action development plans.
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Other risk engineering services available also include
construction professional indemnity site survey
 Quality management systems check
 OH&S training
 Subcontractor default risk analysis
Claims handling
Zurich has experienced in-house construction
claim professionals who truly understand this
business. Construction claim handling (adjusting)
is about finding solutions, based on a thorough
understanding of the issues. Our claims team has
the strength and stability to make construction
claims run as smoothly as possible and we apply
this knowledge to our working practices to ensure
we deliver the service our customers expect from
us. We utilize experienced, construction adjusters
who have strong communications skills and
technical expertize in the construction disciplines.
Key contacts
Underwriting
Brendan Dunlea
Jeff Hsieh
Head of Engineering Lines & Energy,
Asia Pacific
Tel: +65 6236 1765
[email protected]
Engineering and Energy Sec.
Corporate and Commercial Division
Zurich Insurance (Taiwan) Ltd.
Tel: +886 2 21815000 ext. 1723
Dave Kong
Head of Construction, Asia
Tel: +852 2977 0108
[email protected]
Kiyoshi Moriya
Patrick Li
Senior Engineering Lines Manager
Underwriting Department
Tel: +81 3 6832 8854
[email protected]
Senior Manager – Construction
Tel:+852 2977 0835
[email protected]
www.zurich.com.hk
Dia Jia
Head of Property and Engineering
Zurich Global Corporate, China
Tel: +86 21 8454 7829
[email protected]
Allan Obando
Patrick POH
Head of Construction
Tel: +612 9995 1307 (direct)
[email protected]
Head of Construction,
Zurich Insurance Malaysia Berhad
11th Floor, Menara Zurich
No 12 Jalan Dewan Bahasa
50460 Kuala Lumpur
Tel: +603 2146 8216
Steve Ng
Senior Underwriter
Zurich Global Corporate, Singapore
Tel: +65 6236 2253
[email protected]
Marco Sulser
Senior Construction Underwriter
Tel: +61 2 9995 2150
[email protected]
Jun. Y. Lee
Manager – Engineering
Tel:+65 6236 2206
Saviena Baraba (Viena)
Engineering Underwriter
Corporate/Commercial Lines Division
Tel: +62 21 255 436 25
[email protected]
Vian Yu
Assistant Manager – Engineering
Global Corporate, Hong Kong
Tel: +852 2977 0285
[email protected]
Dennis Ni
Senior Underwriting Manager
Property and Engineering
Tel:+86 8454 7860 (direct)
[email protected]
Claims
Risk engineering
Phil Durrant
Arthur Brook
Head of Energy, Engineering/Construction and
Property Claims
Zurich Asia Pacific
Tel: +65 6236 2452
[email protected]
Risk Engineer Manager
Construction
Zurich Asia Pacific
Tel: +61 (0)2 9995 2368
[email protected]
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Our solutions
Corporate life solutions
To attract the top talent organizations need top-drawer benefits. At Zurich,
we share our customer’s motivation to succeed and we work closely with our
customers business to deliver solutions for the long-term. As one of the most
stable insurance organizations in the world, we are heavily committed to the
employee benefits sector.
Our solutions
We have over 30 years of global employee benefits
experience, and offer a range of international
programs such as reinsured multinational pooling
and captive solutions, benefits for expatriates and
globally mobile employees, and fully compliant
local risk, savings and pension plans. All of our
international solutions can be tailored to meet the
needs of multinational companies looking for a
global carrier.
34
Introduction to multinational pooling
Pooling works by combining the financial
performance of a customer’s benefit plans
around the world into a consolidated account
that measures credits (primarily premiums paid)
against debits (claims paid plus insurer
administration charges, commissions and taxes).
The account is then adjusted to allow for the
insurer’s risk charge and any losses carried
forward from a previous accounting period. If the
overall result is positive the resulting amount will
be rebated to the customer as an international
dividend. If the account is negative, the loss is
either immediately absorbed by the Zurich
Employee Benefits Network (ZEBN) or carried
forward to the next accounting period, according
to the design and type of the pool.
Stand-alone pool
Multinational pooling allows companies to
improve the financing efficiency of their local
employee benefit plans. It does this through
 offering profit sharing terms for local, fullyinsured contracts that are pooled
 improving the underwriting terms and conditions
that would ordinarily be available locally for
participating subsidiaries to reflect the wider
global arrangement that has been agreed.
Requirements for pools
In order to set up a stand-alone pool, a
multinational firm needs to have at least 200 lives
insured by ZEBN Network Partners under
contracts in at least two countries with an annual
risk premium volume of EUR 200,000. Once
membership reaches 500 lives a wider range of
risk models is available to tailor the design of the
pool to more specific requirements.
Setting up a pool also means that customers then
receive detailed information on their benefit plans
around the world through an annual profit and
loss account showing the financial performance
of pooled plans. We assign a dedicated account
manager to each customer and they will be
happy to help with any queries that arise.
Risk Models
ZEBN pools work on an annual accounting basis
where customers receive a detailed report
showing income and expenditure for the period
in question. After allowing for the standard credit
and debit items, ZEBN levies a risk charge against
the pooled premium to guard against losses
based on the risk model selected by the
customer.
All plans are set up locally and are therefore fully
compliant in the country of establishment. This
means that local subsidiaries do not lose any of
the normal fiscal advantages of such plans by joining
a pool and continue to benefit from local solutions
and services tailored to their specific needs.
The ‘stop loss’ model: The full ‘stop loss’ model
is available to pools with over 500 lives and is the
most conservative risk option. If the pool reports
a negative result at the end of the accounting
year, this loss is written off entirely by ZEBN and
the pool starts the next year with a zero balance.
Flex pool
For companies that do not have enough business
in-force within the ZEBN network to set up their
own pool immediately, ZEBN offers a collective
pool. FlexPool combines the contracts of a
number of customers for accounting purposes to
smooth risk and generate dividends for the
participants. Joining FlexPool gives customers the
financial benefits of pooling until they can switch
new employee benefit schemes to ZEBN in order
to create a customer-specific, stand-alone pool.
The ‘loss carry forward’ model: The ‘loss carry
forward’ model is also available from 500 lives
upwards and has a higher risk profile than the
‘stop loss’ model. With this model customers
select an accounting period of between two and
five years or choose the ‘indefinite’ option. Any
losses incurred in a given year are carried forward
to subsequent years to be made good by future
profits before further dividends are paid. In order
to compensate customers for the additional risk
compared to the ‘stop loss’ model, the risk
retention charged by ZEBN is lower. As a result
the dividend payable in years of good experience
is higher than for a pool with a ‘stop loss’ model.
To be eligible for FlexPool a customer simply
needs to introduce one contract with a minimum
of 20 lives and EUR 20,000 annual risk premium
to any ZEBN Network Partner.
While the aim of all FlexPool customers should be
to move to their own stand-alone pool eventually,
the FlexPool itself has generated excellent results
and has returned a significant percentage of
gross premiums payable over the last five years.
This high level of return is largely due to the
prudent underwriting approach of ZEBN, which
ensures that the pool has a good spread of risk
and also strives to ensure that no unsuitable
contracts are included that may diminish returns
for other participants.
35
Our solutions
Corporate life solutions continued
The ‘extended stop loss’ model: The ‘extended
stop loss’ model, which is available for pools with
200 lives upwards, combines features from both
the ‘loss carry forward’ and ‘stop loss’ models.
This model allows customers to choose write-off
periods of two to five years and is extremely
popular since it offers potentially higher returns
than a ‘stop loss’ pool while reducing the possibility
of a pool carrying forward losses for prolonged
periods. The customer defines the accounting
period at the start and any losses still being carried
forward at the end of the set period will be
written off by ZEBN no matter when they occurred.
Under the stop loss, loss carry forward and
extended stop loss models, the customer is never
liable for repayment of a deficit at anytime as
ZEBN fully reinsures the risk, and deficits are
off-set either immediately or at the end of the
designated period (pool termination for the
loss carry forward indefinite model).
Captives
While captive insurers have a long tradition of
insuring and reinsuring non-life risks, their
exposure to life risks has been relatively limited
until recently. Now changes in insurer reporting
capabilities and potential advantages under the
36
Solvency II regime mean that captives are paying
more attention to the synergies that can be
gained by including life risks in their programs.
Zurich Global Corporate is a market leader in
managing non-life global captive programs and
ZEBN has extensive experience in fronting and
reinsuring employee benefit risk to captives.
Together we offer unique solutions to
multinational companies and their captives
as part of our ‘One Zurich’ approach.
For example, rather than assessing life and
non-life lines separately when setting collateral
requirements, we consider the global relationship
across all product lines. This means we require
less security from the captive, reducing the capital
required by the captive to support risk and improving
the financing efficiency of the programs.
ZEBN offers a wide range of solutions to captives.
These include full fronting services via our
Network Partners and a broad choice of
proportional and non-proportional reinsurance
options that allow the captive to tailor the
amount of risk taken on to precise requirements.
ZEBN agrees all fronting fees on behalf of the
captive with our local partners and provides a full
quarterly bordereau service to give the detailed
information a captive typically requires.
Our footprint
In Asia Pacific we partner with AIA, a market
leader in employee benefits in the region with
capabilities in 16 countries. In Hong Kong,
corporate life solutions are
provided by Zurich’s own operations.
Why choose Zurich
The Zurich Employee Benefits Network (ZEBN) is a
global network of market-leading insurance
companies offering products and services in over
110 territories. ZEBN consists of both Zurichowned companies and top-quality local insurers
in countries where Zurich does not have a local
presence. All partners are hand-picked with
strong balance sheets, proven track records and
market leading expertize in employee benefits.
Key contacts
Leo Fan
Senior Corporate Sales Manager
Zurich Corporate Life and Pensions
Tel: +852-3405 7192
[email protected]
The Zurich Employee Benefits Network (ZEBN) is
part of the Zurich Insurance Group’s International
Group Risk Solutions division of Corporate Life
solutions. The International Group Risk Solutions
team provides services and solutions for over 100
pooling and captive customers and more than
2,000 international risk and pension scheme
contract holders.
37
Our solutions
Credit and political risk
Faced with opportunities to grow and constant pressure to create shareholder
value, corporates and banks are increasingly turning to unique business
opportunities in new markets. With this expansion comes risks and potential
losses. Zurich provides a variety of solutions that minimize risks and help
customers to capitalize on lucrative opportunities.
Solutions
Zurich offers flexible trade credit and political risk
insurance expressly designed to meet the long-term
needs of multinational corporates and banks
operating in emerging markets throughout the world.
Trade Credit
Zurich offers trade credit solutions for exporters,
traders, manufacturers and other companies to
help protect their trade receivable from default
and bad debt risks, whether those risks arise from
commercial or certain political risk events.
Political Risk: Expropriation
Insurance protection in the event of losses arising
from confiscation, expropriation, nationalization
or other acts by a host government that deprive a
company of the fundamental right to its
investment or cause it to default on a loan.
38
Political Risk: Political violence
Insurance protection in the event of losses
resulting from damage or destruction of assets or
business interruption caused by political violence
such as war, revolution, insurrection, civil unrest
or sabotage. Replacement cost compensation is
provided for damaged assets.
Political Risk: Currency inconvertibility
Insurance protection in the event of the inability
to convert local currency to hard currency and
repatriate converted currency. Dividends, capital
and loan payments are eligible for coverage.
Political Risk: Non Honouring
Insurance protection in the event a sovereign or
state owned enterprize fails to honour a payment
obligation under a contract or loan.
Political Risk features:
Multi-country and global programs are available
in addition to political risk policies specially
designed for contractors and leasing companies.
Capacity
We can offer up to USD 150 million in capacity and
a Policy Period of 15 year for political risk coverage
and up to USD 75 million in capacity and a Policy
Period of seven years for trade credit coverage.
Asia Pacific
Japan
Malaysia
Singapore
Indonesia






partial
licence
Taiwan
Hong Kong

China
Australia and
New Zealand
Zurich is licensed to issue credit and political
risk coverage to customers based in the
following countries:

Partial
licence
Why choose Zurich
Experience, strength and relationships
Our experience, financial strength and
relationships have made Zurich a leading
underwriter for Trade Credit and Political Risk
Insurance for investors, banks, infrastructure
developers, multinationals, exporters and doing
business in emerging markets.
Our in-depth understanding of the dynamics of
business in emerging markets enables us to develop
products that address the needs of companies
pursuing opportunities in developing economies.
As our customers face new challenges in regions
such as Europe, the Middle East and North Africa,
we will work together to manage these risks with
the same consistent underwriting approach.
Claims handling
We work closely and cooperatively with our
customers through every stage of the claims
process. The key component of any insurance
policy is the ability of the insurance company to
investigate the circumstances surrounding the
potential claim and pay the claim when it is
determined that such a loss is covered. With early
notification of a potential claim, we can work on
a strategy that helps to minimize losses and keep
an insured venture or transaction on target. Early
notice also helps us to monitor the situation, so
that if a claim does result, we will be better
prepared to perform the due diligence that leads
to timely claim determination.
From 1997 to 2013, Zurich’s Credit and Political
Risk division handled USD 635,000,000 worth
of claims.
Key contacts
Tim Warren
Sawlian Lee
Regional Head
Singapore
Tel: +65 6236 2454
[email protected]
Underwriting Assistant
Singapore
Tel: +65 6236 2195
Dennis Eucogco
Singapore
Tel: +65 6236 2483
Jonathan Goh
Singapore
Tel: +65 6236 2483
Tel: +886 2 21815000 ext. 1723
Bonnie Chow
Sydney
Australia
Tel: +612 9995 1727
Clive Mok
Hong Kong
Tel: +852 2977 0671
Albert Barbe
Tokyo
Japan
Tel: +813 6832 8817
Akiko Wakizaka
Senior Underwriter
Tokyo
Japan
Tel: +813 6832 8818
Julia Cheng
Underwriter
Beijing
China
Tel: +86 10 8454 7736
39
Our solutions
Energy – Casualty
The energy industry faces new risks and challenges as never before. Both
international conglomerates and in region operators need an insurer with
up-to-date technical knowledge and proven industry experience to recommend
robust tailored risk management solutions and support as they evolve.
Our solution
Our approach
Zurich provides specialized solutions in a variety
of areas of risk management including post loss
support for our customers in the global energy
sector ranging from primary general liability to
high limit umbrella and excess liability insurance.
Energy casualty specialist underwriters develop
innovative approaches to program structures and
risk pricing. Global programs are available for
over 200 countries.
We consider the customers’ ability and desire
to maintain adequate level of risk retention
based upon their asset base, revenue and
market capitalization.
Coverage includes:
 Primary general liability, including public
and products.
 Pollution legal liability.
 Onshore and offshore liability.
 Excess programs including extended coverages.
 Construction liability both onshore and
offshore energy facilities.
40
We are committed to evaluating each customer’s
individual risk profile together with their overall
relationship with Zurich. We seek alignment
with those companies that can demonstrate their
risk management activities and strategy within
their operations.
Our long term approach to the energy sector also
means we have invested in a full suite of services
including captive fronting, global network
capabilities, risk engineering and claims expertize.
Our customers rely on our integrated solutions
not only in energy casualty area but also onshore,
exploration and production and
other business classes.
Australia and
New Zealand
China
Hong Kong
Japan
Malaysia
Singapore
Asia Pacific






We can service our energy customers in Asia,
Australia and New Zealand. Together with
our global experts Zurich is able to provide risk
transfer and captive fronting solutions in Europe,
North America, Canada, Latin America, Africa
and the Middle East. We work to ensure our
customers have the necessary claims, risk
engineering and policy service they need at all
times within the local licencing, sanctions and
regulatory framework in each territory.
We can tailor casualty programs for a variety
of energy customers including:
Our risk engineers have industry experience
in their specialized field (oil and gas, power and
mining respectively) and are able to provide
insights into challenges our customers might face
now and in the future. They are able to provide
independent risk assessments, and a purposeful
and conclusive view into operations to help assist
in compliance with corporate directives and
regulations to help manage the overall cost of
risk. We take a holistic approach to our risk
engineering, and are able to conduct specific
property, machinery breakdown, and liability
assessments for each industry type.
Claims handling
Our claims team have many years of experience
and are familiar with the demands of managing
some of the largest claims in the market. The
team handles claims on many types of energy
policy wordings including onshore, mining, power
generation, operator’s extra expense, business
interruption, loss of production income and third
party liability.
 Oil and gas industry.
 Petrochemical risks.
Key contacts
 Mining – all ores and all methods.
Underwriting contacts
 Power and gas utilities.
Australia
 Construction liability relating to all of the
above industries.
David Mutton
Why choose Zurich
We are one of the only insurers in the market
who can offer joined up, combined onshore and
offshore casualty solutions. Our specialist energy,
onshore, offshore, property and casualty teams
work closely with each other to meet our
customers’ needs.
can offer international casualty energy insurance
programs in up to 200 countries. We coordinate
Underwriting Manager – Energy Casualty
Zurich Australia
Tel: +613 9940 6432
Mob: +61401 105 484
[email protected]
Singapore
Jasmine Aw
Senior Underwriter, Casualty
Zurich Singapore
Tel: +65 6236 1757
[email protected]
Risk engineering
Our customers have access to our network of risk
engineering specialists across the globe who are
able to provide benchmarking and risk engineering
advice at both a local and global level.
41
Our solutions
Energy – Offshore exploration and production
In today’s dynamic market environment, energy operations are faced with
unprecedented risks and unique challenges. Success depends on technical
knowledge, industry experience, and a sound business partner to effectively
address the most challenging exposures.
42
Japan
Malaysia
Singapore
India and Indian
Subcontinent
Our underwriting approach links risk quality,
claims and attachment points to program pricing,
structures and capacity deployed. Our success
depends on technical knowledge, industry
experience and sound business relationships with
our customers and brokers to effectively address
the most challenging exposures.
Asia Pacific
Hong Kong
Zurich’s Singapore based energy experts focus
on risks located in Asia Pacific: from Pakistan,
India and the Indian subcontinent to Australia
and New Zealand.
Zurich also offers insurance solutions for Energy
E&P risks in Europe, North America, Canada, Latin
America, Africa and Middle East.
China
The Exploration and Production (E&P) segment
covers offshore and onshore oil and gas
exploration and production including fixed
platforms, onshore drilling rigs, processing and
transmission, cost of well control, hull and
machinery insurance for drilling contractors with
mobile drilling rigs and construction insurance for
the offshore industry including fixed platforms,
mobile drilling rigs, subsea infrastructures, tie ins
and pipelines
Our overriding principle is to ensure licensing,
sanctions and regulatory compliance
requirements are met at all times.
Australia and
New Zealand
Our solutions







We are committed to offering insurance solutions
to worldwide risks. The overriding guiding
principle will always be to ensure our customers
have the necessary claims, risk engineering and
policy services they need at all times within the
local licencing, sanctions and regulatory
framework in each territory. Our underwriting
approach will seek to link risk quality, claims and
attachment points to program pricing, structures
and capacity deployed.
Claims
The energy claims team are familiar with the
demands of managing some of the largest E&P
claims in the market. Whether Zurich leads or
supports the program, we use our expertize and
relationships within the energy market to provide
a seamless service to our customers. We work
closely with our peers, brokers and specialist
adjusters to deliver the best possible claims
solutions.
Our approach
relationship with Zurich. We seek alignment with
those companies that can demonstrate their
risk management activities and strategy within
their operations.
Our long term approach to the energy sector
also means we have invested in a full suite of
services including captive fronting, global
network capabilities, risk engineering and claims
expertize. Our customers rely on our integrated
solutions not only in offshore exploration and
production area but also onshore and energy
casualty and other business classes.
Zurich has made significant investment in these
areas to support its proposition and long-term
commitment to this sector
Key contacts
Seetha Gangadharan
Regional Underwriting Manager,
Zurich Global Energy E&P
Tel: +65 6236 2192
[email protected]
Christy Yeo
Senior Underwriter
Zurich Global Energy E&P
Tel: +65 6236 2451
[email protected]
Phil Durrant
Regional Head of Energy, Engineering/
Construction and Marine Claims
Zurich Asia Pacific
Tel: +65 6236 2452
[email protected]
GP Teo
Claims Manager
Tel: +65 6236 2473
[email protected]
Why choose Zurich
Local service and global expertize provided where
they are needed by our customers
Our global network and capabilities mean we
can offer energy insurance programs covering
multiple territories, up to 200 countries. We
coordinate and implement cross border programs
leaving customers in control of their overseas
coverage, avoiding language, cultural and
business barriers.
43
Our solutions
Energy – Onshore
The energy industry faces new risks and challenges as never before. Both
international conglomerates and regional operators need an insurer with
up-to-date technical knowledge and proven industry experience to recommend
robust tailored risk management solutions and support as they evolve.
44
Singapore
Our approach
Malaysia
 Mining.
Asia Pacific
Japan
 Power generation.
Indonesia
 Oil and gas including petrochemical
and refineries.
Our long term approach to the energy sector
also means we have invested in a full suite of
services including captive fronting, global
network capabilities, risk engineering and claims
expertize. Our customers rely on our integrated
solutions not only in onshore area but also
exploration and production, energy casualty
and other business classes.
Hong Kong
Zurich’s dedicated onshore energy team focus on
delivering solutions for major and complex risks.
Our solutions are designed to be either standalone, or be a broader program and include
expert risk engineering and claims services in
three key Industries:
China
Zurich provides specialized solutions in a variety
of areas of risk management including post loss
support for our customers in the global energy
sector: onshore property, casualty, and
exploration and production.
relationship with Zurich. We seek alignment
with those companies that can demonstrate
their risk management activities and strategy
within their operations.
Australia and
New Zealand
Our solutions







We can service our Energy customers in Asia,
Australia and New Zealand. Together with
our global experts Zurich is able to provide risk
transfer and captive fronting solutions in Europe,
North America, Canada, Latin America, Africa
and the Middle East. We work to ensure our
customers have the necessary claims, risk
engineering and policy services they need at all
times within the local licencing, sanctions and
regulatory framework in each territory.
Why choose Zurich
Local service and global expertize provided where
they are needed by our Customers
Our global network and capabilities mean we can
offer Energy insurance programs covering multiple
territories in up to 200 countries. We coordinate
Risk engineering
Our customers have access to our network of risk
engineering specialists across the globe that are
able to provide benchmarking and risk engineering
advice at both a local and global level.
Our risk engineers have industry experience
in their specialized field (oil and gas, power and
mining respectively) and are able to provide
insights into challenges our customers might face
now and in the future. They are able to provide
independent risk assessments, and provide a
purposeful and conclusive view into operations to
help assist in compliance with corporate directives
and regulations to help manage the overall cost
of risk. We take a holistic approach to our risk
engineering, and are able to conduct specific
property, machinery breakdown, and liability
assessments for each industry type.
Claims handling
Zurich has experienced in-house Energy claims
professionals, including some from loss adjusting
backgrounds. Energy claims handling is
about finding solutions, based on a thorough
understanding of the issues. Our claims team has
the strength and stability to make Energy claims
run as smoothly as possible. We work closely with
our peers, brokers and specialist loss adjusters to
deliver exceptional service to our customers.
Key contacts
Underwriting contacts
Singapore
Brendan Dunlea
Head of Energy Property and
Engineering Lines, Global
Corporate in Asia Pacific
Zurich Insurance Company Ltd
Singapore Land Tower #29-01
50 Raffles Place
Singapore 048623
Tel: +65 6236 1765
[email protected]
Daniel Borgogno
Global Energy Onshore
Tel: +65 6236 2475
[email protected]
Australia
Arthur Constantinou
Global Corporate
Zurich Financial Services
Australia Limited
Level 10, 505 Little Collins Street
Melbourne VIC 3000
Tel: +61 3 9940 6421
[email protected]
Risk engineering
Singapore
SS Shekhar
Risk Engineering Manager
Power
Tel: +65 62362194
[email protected]
Anupam G Joshi
Risk Engineering Manager
Oil and Gas
Tel: + 91 22 32500861
[email protected]
Australia and New Zealand
Mervyn Rea
Senior Risk Engineer
National RE Customer Relationship
Manager, and Head of RE Customer
Management, APAC
Level 10 , 505 Little Collins St
PO Box 232
Melbourne VIC 3000
Tel: +61 (0)3 9940 6634
[email protected]
Claims contact
Phil Durrant
Head of Energy, Engineering/
Construction and Property Claims,
Asia Pacific
Tel: +65 6236 2452
[email protected]
Energy Property Manager
45
Our solutions
Financial lines – Directors and officers
Turbulent economic conditions have created unprecedented liability risks
for today’s corporate directors and officers (D&Os). The threat of litigation and
investigation is growing across business and industry segments – and the
consequences can be enormous.
46
Singapore
Taiwan
 Investigations commenced by an arrest
and detainment or incarceration in a
foreign jurisdiction.
Malaysia
 Derivative demand investigations costs,
resulting from a security holder
derivative demand.
Japan
 Civil, administrative or regulatory fines
and penalties for D&Os and outside
entity executives.
Asia Pacific
Hong Kong
Coverage also includes:
We will look at all risks and industries on an
individual case-by-case basis, but we cannot
quote for US incorporated businesses.
China
Our market leading wording offers broad
coverage for pre-claims events and a broad
definition of financial loss, which now includes
corporate taxes owned by the company and
corporate employees wages (to the extent that
they are a personal liability of the D&Os and not
the result of intentional criminal or wilful act to
breach any statutory or contractual duty).
Our capacity
We can put up large capacity for customers in
D&O Liability Insurance that share the same
corporate governance approach as Zurich and
matches our risk appetite.
Australia and
New Zealand
Our solutions







 We are proactive in seeking to achieve the best
possible results for our customers, whether it
is by way of a negotiated settlement of a claim
or managing complex litigation all the way
through to trial.
The impact of a D&Os claim is normally felt at
the highest level of the Organization. It is not
limited to the high value of the damages sought,
but also the impact of regulatory proceedings in
multiple jurisdictions.
Key contacts
Underwriters
Philip Chiu
Why choose Zurich
Local service and global expertize where it is
needed by our Customers
can offer international D&O insurance programs
Claims handling
When a company and its directors are faced with
a D&O case we understand that this can be a
turbulent time for the individuals involved and it
can divert management’s attention from running
the business. We therefore have a highly
experienced team dedicated to management
liability claims who understand that personal
assets and the liberty can at stake. It is vital to
have the right claims support in this highly
technical area.
 The team is comprise of qualified solicitors and
experienced professionals who are specialist in
management liability claims ensuring the
appropriate experts are allocated to the case.
Head of Financial Lines, Asia
Tel: +852 2977 0692
[email protected]
Marc Luginbuehl
Zurich Insurance Company
Head Financial Lines, Australia/New Zealand
Zurich Australia and New Zealand
Tel: +612 9995 1586
[email protected]
Claims
Lucia Sun
Financial Lines Claims Manager, Greater Asia
Tel: +852-2977 0317
[email protected]
Fiona Mak
Solicitor, LLB., LLM.
Claims Manager, Financial Lines
Zurich Hong Kong
Tel: +852-2977 0296
[email protected]
 The team are supported by a network of
lawyers and adjustors on a global basis.
 We have the depth of resources to be able to
deal with all types of claims; from the small
disputes where cost-efficiency is the priority,
to large-scale, global, multimillion dollar
disputes involving a range of complex issues.
47
Our solutions
Financial lines – Employment practice liability
Employment legislation is becoming more stringent in many countries around
the world. Legislation differs from one country to the next, creating a complex
environment for multinational organizations to fully understand and comply
with differing laws and requirements across their operations. The frequency
and severity of claims against employers is rising to potentially expensive
claims against them.
48
Hong Kong
Japan
Malaysia
Singapore
Taiwan
Our capacity
We can put up large capacity for customers in
EPL insurance that share the same corporate
governance approach as Zurich and matches our
Asia Pacific
China
Our market-leading Employment Practice Liability
insurance (EPL) insurance offers worldwide cover
for the policyholder, its subsidiaries, pension
plans, directors, officers and employees by issuing
international programs with compliant local
policies where legally necessary. We offer a broad
cover of fees, expenses and compensation awards
arising from an order of reinstatement, arising
from alleged or actual wrongful employment
acts, as well as a broad range of extensions to
provide extra protection.
risk appetite. We look at all risks and industries
on an individual case-by-case basis. However, we
cannot quote on US incorporated businesses.
Australia and
New Zealand
Our solutions







Why choose Zurich
Key contacts
Local service and global expertize where
it is needed by our Customers
Our global network and capabilities means
we can offer EPL insurance program in up to
90 countries, a number that is constantly
growing. We coordinate and implement cross
Underwriters
Market leading broad coverage gives greater
balance sheet protection and peace of mind that
if an employment claim does arise, your company
is well protected against potential high costs.
A range of extensions will provide you with the
extra protection you need.
Claims handling
Our global network of dedicated financial lines
claims professionals have the expertize to respond
and deliver when it matters most. When a claim
arises a local dedicated claims expert will be
assigned who understands the local language and
has experience in resolving similar claims.
Philip Chiu
Tel: +852 2977 0692
[email protected]
Marc Luginbuehl
Tel: +612 9995 1586
[email protected]
Claims
Lucia Sun
Tel: +852-2977 0317
[email protected]
Fiona Mak
Zurich Hong Kong
Tel: +852-2977 0296
[email protected]
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Our solutions
Financial lines – Financial institutions
We understand the complexities of financial institutions, and the ever increasing
regulatory environment faced by these types of organization.
Our solutions
We provide four primary insurance classes:
Directors and officers liability covering
investigations and pre-claim expenses, insured
person additional protection, additional limit for
non-executive directors, lifetime ERP for retired
directors, emergency defence costs, civil fines and
penalties, company crisis and kidnap response,
investment funds and portfolio companies, ERP
up to 72 months.
Professional Liability covering civil liability,
vicarious liability, emergency defence costs,
costs of correction, mitigation costs, civil fines,
penalties and punitive, first settlements offer,
broad employment and insured, new entities and
90 days provisional cover, ERP up to 36 months
run – off subsidiaries.
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Fraud covering (crime) covering internal fraud,
enhanced external fraud mortgage fraud,
mitigation cots, broad extortion, legal fees and
audit expenses, new entities and 90 days
provisional cover, unlimited retro-cover, ERP
up to 36 months run off subsidiaries.
Our capacity
We can put up large capacity for financial
institutions customers who share the same
corporate governance approach as Zurich and
match our risk appetite. We look at all risks and
industries on an individual case-by-case basis.
However, we cannot quote on US incorporated
businesses.
Asia Pacific
Key contacts
Underwriting
Australia and
New Zealand
China
Hong Kong
Japan
Malaysia
Singapore
Taiwan
Philip Chiu
Tel: +852 2977 0692
[email protected]
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Robin Cooper Driver
We will consider banks, private equity firms,
asset managers, insurance companies and
fund administrators.
National Underwriting Manager –
Financial Institutions
Zurich Australia
Tel: +61 2 9995 2263
[email protected]
Typically we do not consider:
 IFAs, Insurance brokers, mortgage brokers and
global investments banks.
 Any US-domiciled business as it must be
written from the Zurich North America Branch.
Why choose Zurich
can offer financial institutions global D&O and PI
programs in up to 170 countries. We coordinate
Claims
Lucia Sun
Tel: +852-2977 0317
[email protected]
Fiona Mak
Zurich Hong Kong
Tel: +852-2977 0296
[email protected]
Claims handling
Our global network of dedicated Financial Lines
claims professionals consists of specialists for
Financial Institutions who have the expertize to
respond and deliver when it matters most. Our
team is supported by a panel network of both
lawyers and adjusters We have the resources and
depth of experience to deal with for all types of
claims; from the smaller disputes where costefficiency is the priority, to large-scale global
multimillion dollar disputes involving a range of
complex issues. When a claim arises a local
dedicated claims expert will be assigned who
understands the local language and has
experience in resolving similar claims. We take a
proactive approach to seeking the best possible
result for our customer, whether it is by way of a
negotiated settlement of a claim or managing
complex litigation all the way through to trial.
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Our solutions
Financial lines – Manufacturers‘ professional indemnity
Manufacturers face many challenges and one of the biggest is to satisfy their
customers by delivering them the goods at the quality they expect and at
the agreed time. In every day operations, errors and omissions can create
big uncertainties.
Our solutions
Our manufacturers professional indemnity
insurance helps to protect against financial loss
that that can derive from errors or omissions in
the execution of the contract.
We provide cover for financial injury and claim
expenses resulting from any claim based upon
a negligent act, error or unintentional omission
resulting in a defect, deficiency, inadequacy or
dangerous condition in the insured’s:
 Product, or the failure of the insured’s product
to perform in accordance with the terms and
conditions of a written contract or agreement.
 Services, or the failure of the insured to
perform their services in accordance with
the terms and conditions of a written contract
or agreement.
 Product descriptions or warranties regarding
fitness, performance, quality or use of the
product, or
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 Provision of failure to provide instructions or
warnings in connection with the product.
What do we offer that our competitors don’t?
Unlike our other insurers we provide cover for
contractual liability, as well as expenses incurred
by the insured’s customer, because they need to
repair, replace, or destroy the product, or the
product incorporating the insured’s product.
Our capacity
We can put up large capacity for customers who
share the same risk management philosophy as
Zurich and match our risk appetite.
We can also provide cover for a single contract
where this type of insurance is required.
China
Hong Kong
Japan
Malaysia
Singapore
Taiwan
Australia and
New Zealand
Asia Pacific
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
We can cover the entire supply chain from
product designers and selection of raw materials
to wholesalers and vendors.
Our preferred manufacturers are typically
manufacturers of electronic components,
suppliers in the motor industry and solar
power manufacturers.
Why choose Zurich
Claims handling
assigned who understands the local language
and has experience in resolving similar claims.
We have the depth of resources to be able to
deal with all types of claims, from the smaller
disputes where cost-efficiency is the priority to
the large-scale, global multimillion dollar disputes
involving a range of complex issues.
In-house risk engineering
We offer PI diagnostics – this involves a
short ‘deep dive’ diagnostic which seeks
to understand customers risk management
practices and processes.
Key contacts
Underwriting
Philip Chiu
Tel: +852 2977 0692
[email protected]
Claims
Lucia Sun
Tel: +852-2977 0317
[email protected]
Fiona Mak
Zurich Hong Kong
Tel: +852-2977 0296
[email protected]
These diagnostics seek to build a better
understanding of customers leading to often
reduced cost of risks and improved internal
control and risk management environment.
The diagnostic covers several key areas including,
risk management, assurance mechanisms,
contract management, change management
and corporate policies.
53
Our solutions
Financial lines – Professional indemnity
Professional indemnity (PI) Insurance protects professionals in their business
against claims arising from professional services that they perform.
Australia and
New Zealand
China
Hong Kong
Japan
Malaysia
Singapore
Taiwan
Asia Pacific
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We offer Professional Indemnity solutions for the
following types of businesses.
Construction
 Architects.
 Engineers.
 Design Professionals.
Solicitors
Technology
Our solutions
Our PI solutions cover potential exposures of
professionals operating across both domestic
and global specializations.
Our extensive understanding of corporate risks
and customer needs ensure we are fully confident
to provide flexible and bespoke coverage to a
diverse range of organization.
Our capacity
We can put up large capacity for PI customers
who share the same risk management philosophy
as Zurich and match our risk appetite. We will
look at all risks and industries on an individual
case-by-case basis, but we cannot quote for US
incorporated businesses.
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 Telecoms.
 Systems Integrators.
 Business Process Outsourcing.
Miscellaneous
 Consultants.
 Property/Real Estate.
 Appraisers/Auctioneers/Evaluators.
 Certification/Classification/Inspection.
 Utility companies.
 Media companies.
Why choose Zurich
Key contacts
can offer PI insurance program in up to 200
Underwriters
Claims handling
assigned who understands the local language
and has experience in resolving a similar claims.
We have the depth of resources to be able to
deal with all types of claims, from the smaller
disputes where cost-efficiency is the priority to
the large-scale, global multimillion dollar disputes
involving a range of complex issues.
In-house risk engineering
We offer PI diagnostics this involves a short
‘deep dive’ diagnostic which seeks to
understand customers risk management
practices and processes.
These diagnostics seek to build a better
understanding of customers leading to often
reduced cost of risks and improved internal
control and risk management environment.
The diagnostic covers several key areas including,
risk management, assurance mechanisms,
contract management, change management
and corporate policies.
Philip Chiu
Tel: +852 2977 0692
[email protected]
Marc Luginbuehl
Tel: +612 9995 1586
[email protected]
Claims
Lucia Sun
Tel: +852-2977 0317
[email protected]
Fiona Mak
Zurich Hong Kong
Tel: +852-2977 0296
[email protected]
55
Our solutions
Financial lines – Public offering of securities
insurance (POSI)
POSI protects the directors, officers and the company, as well as certain
Additional Insureds, in your business against securities claims arising from their
actions and decisions in their official capacities in connection with a public
offering of securities of the company. This includes damages awarded in civil
courts and in administrative or regulatory proceedings, and the potentially
substantial defence costs incurred in criminal, administrative or regulatory
charges or investigations.
Our capacity
We can put up large capacity for POSI customers
who share the same corporate governance
approach as Zurich and match our risk appetite.
Highlights of our cover include:
 Primary attachment point.
 Comprehensible wordings tailored to
meet your needs.
 Broad definition of ‘claim’.
 Wide definition of ‘insured,’ which
includes the underwriters of the public
offering (to the extent the company
indemnified such underwriters), as
well as the controlling and selling
shareholders (on a co-defendant basis).
In the light of the significant increase in liabilities for
directors and officers in connection with a public
offering of securities of the company, our aim is to
provide a focused product that responds to those
issues. We want to work with companies who are
looking to achieve the highest standards across all
areas of their business, in particular corporate
governance and risk management. We are able to
offer more favourable terms to those companies
that can demonstrate their commitment to
continuous improvement in these areas.
Our solutions
Zurich is a market-leader in D&O liability
underwriting, offering one of the most
comprehensive POSI insurance products currently
available. Our cover responds to the potential
exposures of global organizations and their D&O
in connection with a public offering of securities
of their company.
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 Worldwide coverage, includes cover for
USA subsidiaries and USA.
 Stock market offerings and listings.
 Strong advancement of
‘defence costs’ language.
 Investigation and enquiry costs.
 Entity coverage for securities offerings.
 Severability of the proposal form.
Asia Pacific
Key contacts
Underwriters
Australia and
New Zealand
China
Hong Kong
Japan
Singapore
Philip Chiu
Tel: +852 2977 0692
[email protected]
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Marc Luginbuehl
Our aim is to be as transparent as possible so that
our customers understand our rationale behind
the pricing and the key elements we look at to
make our assessment. We look for those
companies which can demonstrate ‘best practice’
across all elements of their business practices,
procedures and governance.
The risk analyses we carry out uses a wide range
of data, both internal and external. Some key
areas we’ll look at are records of the Board of
Directors’ performance, the mix between nonexecutive and executive board directors and other
commitments they have, analysis of the financial
statements, analysis of the offering documents,
reviews of all corporate governance procedures,
audit process and Code of Ethics. We believe the
approach and culture of senior management
within a business is a significant influence on the
more tangible aspects of risk management.
Tel: +612 9995 1586
[email protected]
Claims
Lucia Sun
Tel: +852-2977 0317
[email protected]
Fiona Mak
Zurich Hong Kong
Tel: +852-2977 0296
[email protected]
Why choose Zurich
Claims handling
Our approach to claims handling is based on speed,
professionalism and fairness. We pride ourselves on
our claims expertize and experience, whether we’re
the sole insurer, the leading insurer or follow
co-insurer. Together with underwriting, we aim to
build long-term relationships with both the insured
and the brokers. With all three parties working
closely together there is a better understanding of
our processes and procedures, which leads to a
more transparent relationship where we can share
knowledge and help manage the cost of risk. So
whenever a claim does arise, we’ll involve all parties
every step of the way, seeking to resolve it quickly
and without complications. We actively look to
incorporate the claims team into the customer
facing, underwriting functions of our business.
This approach helps us to better understand
our customers need and provide the most
appropriate solutions.
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Our solutions
Financial lines – Security and privacy
Recent headlines tell the ongoing stories of lost or stolen personal information,
customer records, millions of credit card records are compromised, a laptop
containing patient information is stolen, a disgruntled employee downloads
thousands of confidential records on a USB stick before leaving the company,
a supplier using a company’s customer list for prospecting.
Data breaches are costly. Multiply this by thousands
of records and the costs can become overwhelming.
In today’s world, the likelihood of a data breach
is continually escalating. So is the cost. Any
company that handles data related to employees,
customers, suppliers, or business partners is
exposed to potential business costs and lawsuits
associated with a breach.
Our solutions
The Zurich Security and Privacy (S&P) Protection
policy is designed to address these concerns with
liability and first party coverages, including privacy
breach costs and business interruption, which can
help mitigate negative publicity and customer
dissatisfaction. Third party coverage includes limited
coverage for regulatory proceedings defence costs
and optional internet media liability coverage.
Broader, enhanced policy that stands out in the market
First party coverage
Third party coverage:
 Privacy breach costs including:
 Security and Privacy Liability coverage, which
includes limited coverage for regulatory
proceedings defence costs
– Forensic investigation expenses of a
company’s computer system.
– Certain legal and public relations expenses.
 Digital asset replacement expense coverage
Business and dependent business income
loss coverage.
 Cyber extortion threat and reward
payments coverage.
58
 Civil fines and penalties coverage (optional)
 Internet media liability coverage (optional).
Our capacity
We can put up large capacity for S&P customers
who share the same risk management philosophy
as Zurich and match our risk appetite.
Asia Pacific
Our experienced financial lines claims team
provides us with the resources to not only
manage the complex coverage issues in-house,
but also to provide our insureds with years of
valuable experience in claims management. We
can assist our insureds to resolve their claim in a
practical, cost-effective and satisfactory manner.
Australia and
New Zealand
China
Hong Kong
Japan
Malaysia
Singapore
Taiwan
Key contacts
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Some of the key industries that Zurich provides
S&P insurance protection for include, but are not
restricted to the following:
 Commercial retail.
 Technology.
 Healthcare.
Underwriting
Philip Chiu
Tel: +852 2977 0692
[email protected]
Marc Luginbuehl
Tel: +612 9995 1586
[email protected]
 Financial institutions.
Claims
 Consulting.
Lucia Sun
 Professional services.
Tel: +852-2977 0317
[email protected]
 Data processing.
Why choose Zurich
Fiona Mak
can offer S&P insurance programs in over 20
Zurich Hong Kong
Tel: +852-2977 0296
[email protected]
Claims handling
Zurich‘s global team of claims professionals helps
our customers through their loss with prompt,
fair and easy to understand assistance.
Financial Lines insurance is a complex area that
requires specialized claims resources. A financial
lines claim will often require detailed technical
analysis in order for an insurer to respond with its
position on indemnity.
59
Our solutions
Marine – Cargo and liability
Globalization has made our world smaller, but at the same time highly complex.
Zurich is a global leader in marine insurance solutions and here to help when it
matters most. We have the knowledge and experience to tailor-make a program
to meet the specific needs of our customers.
60
Japan
Malaysia
Singapore
Taiwan
Logistics Liability – Providing liability insurance
to those transport businesses who provide a total
logistics solution to their customers. Designed to
cover the growing sophistication of services
Asia Pacific
Indonesia
Cargo liabilities/freight forwarders liability –
covers the liability of carriers for the physical loss
or damage to cargo while in transit. We can also
assist carriers in selling cargo insurance to their
customers, which can reduce liability exposure
and generate additional revenue streams. We
look at risks on a case-by-case basis and can be
flexible with our offering and capacity to suit
each individual business.
The Logistics Liability product is tailored to the
individual business requirements and is able to
provide seamless cover where previously several
policies were required.
Hong Kong
Cargo – covers physical loss or damage to goods
while in transit or in store. We can also provide
consequential loss/delay in start-up (DSU) cover
on construction and infrastructure projects.
China
Flexible insurance protection through a broad
range of products.
offered by logistic operators including haulage,
storage, distribution, consolidation and
deconsolidation of cargo, inventory management,
freight forwarding, product configuration, pick
and pack services, and cargo tracking services.
Australia and
New Zealand
Our solution

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
 We will look at all types of organizations
and industries.
 We specialize in a global offering and
multinational programs.
 Project cargo and DSU risks.
 Marine Logistics risks.
 Accounts involving Captives and
Alternative Risk Transfer.
Why choose Zurich
As one of the leading marine insurers globally,
we have the technical capabilities to offer
marine insurance solutions in over 200 countries.
We coordinate and implement cross border
programs leaving customers in control of their
overseas coverage, avoiding language, cultural
and business barriers, through our Zurich
International Programs.
As a truly global leader in marine, we have a
network of marine experts who are available to
our customers and can offer solutions across the
world. We also have market leading propositions
in marine liability and in marine cargo insurance,
which together with our risk engineering and
claims handling capabilities; make Zurich a global
leader in marine.
Claims handling
We have adopted a customer focused approach
to claims with Marine at the heart of this.
Our Asia Pacific claims teams maintain strong
regional and local focus and are well supported
by our global network. We have experts located
across the Asia Pacific region capable of dealing
with the full gamut of marine losses, large and
small. Our technical expertize is unmatched in the
region and our staff work closely with our
customers to ensure the best possible claims
outcomes are achieved. Our global reach allows
us to effectively deal with the challenges
presented by losses across the marine product
range including cargo, hull and liability, as well as
matters of piracy, general average and salvage.
Risk engineering
Our marine risk engineering specialists can tailor a
loss prevention program to help customers
manage risks and minimize losses. We have a
global network of marine engineering specialists
across the globe and our experts can put together
a risk engineering program including:
 Logistics assessments – to help protect
assets and control losses while they are in
transit. Analysis of risks to goods in
intermediate storage, conveyance analysis,
and handling procedures.
 Site risk assessments – designed to help
protect assets while they are in storage.
Assesses the attributes of the location and
reviews of inventory management and
distribution, including analysis of loading and
delivery procedures.
 Post-loss assessments – designed to analyse
trends and propose loss lessons with advice
and recommendations to help reduce either
the frequency or severity of future incidents.
Certificate issuance
We have upgraded our online certificate
issuance capabilities to facilitate international
trade for our customers.
61
Our solutions
Marine – Cargo and liability continued
Key contacts
Underwriting
Country
Contact
Job title
Telephone
Email
Australia/
New Zealand
Matthew
O’Sullivan
Head of Marine,
Property and
Engineering
+61 2 9995 1562
matthew.o'[email protected]
China
Felix Zhu
Marine Underwriting
Manager
+86 21 2089 5504
[email protected]
Hong Kong
Kenneth Ho
Underwriting
Manager, Marine
+852 2977 0169
[email protected]
Japan
Yuniko Komachi
Senior Underwriter
+81 3 6832 8810
[email protected]
Singapore
Laykeow Seah
Marine Manager
+65 6236 2456
[email protected]
Claims
Contact
Job title
Telephone
Email
Phil Durrant
Head of Energy, Engineering/Construction
and Property Claims, Asia Pacific
+65 6236 2452
[email protected]
Contact
Job title/address
Telephone
Email
Amos Ang
Risk Engineering Manager, Marine –
Asia Pacific
+65 6236 2485
[email protected]
Risk engineering
Zurich Insurance Company Ltd
(Singapore Branch)
50 Raffles Place #29-01
Singapore Land Tower, Singapore 048623
62
H/P:
+65 9017 1809
Our solutions
Marine – Fine art and specie
Fine art encompasses a whole range of unique items including unusual or
obscure valuable objects. Often, organizations do not realize the intrinsic value
of their corporate collections, which tend to be undervalued and inadequately
covered. Many corporates mistakenly believe that their collections are covered
under their property insurance; in the event of a claim their property policy is
unlikely to respond or cover the full value such collections.
Asia Pacific
Within Asia Pacific, fine art and specie is currently
available in Hong Kong.
Why choose Zurich
Our solutions
Whether customers require cover for prototypes
and first productions of products, old machinery,
manuscripts and memorabilia, or more
‘traditional’ items of art, Zurich can provide the
necessary cover. We offer a broad range of fine
art and specie insurance solutions including fine
arts, jewellers block, general specie, and cash in
transit, which includes:
Fine Arts – paintings, photographs, sculptures,
antiques and collectibles, memorabilia, classic car
collections, wine collections and historic machinery.
Appetite – museums and galleries, commercial
dealers, private and corporate collectors.
Jewellers Block – gemstones of a precious or
semi-precious nature, jewellery made from metal
of a precious or semi-precious nature, pearls.
Appetite – jewellery manufacturers, wholesalers,
retailers, private clients.
General Specie – items of high intrinsic value such
as precious metals, cash and bullion, as well as
other negotiable and non-negotiable instruments.
Appetite – banks and stockbrokers, casinos, printers
of bank notes, precious metals, supermarkets.
Cash in Transit – armoured car companies.
Capacity
We can offer capacity of up to USD50m; however
we assess each risk individually to determine our
maximum capacity.
Market leading expertize
Our fine art and specie team are recognized as
leaders internationally for providing expert
solutions conveniently under one policy. We
provide financial protection for some of the
world’s most highly valued and treasured items.
Partnership
We work in partnership the customer and the
broker to provide tailored insurance cover that
meets the exact requirements.
Claims handling
We have adopted a customer focused approach
to claims, with fine art and specie claims at the
heart of this.
We have a fine art and specie claims team center
of excellence focusing specifically in this area.
Fine art and specie claims typically require very
technical expertize to deal with such claims. Our
claims team has dedicated experts at their
disposal for any assistance required in dealing
with the claims including art surveyors, financial
risk experts and our loss adjusting panel.
Key contacts
Kathy Wong
Zurich Hong Kong
Tel: +852 2977 0282
[email protected]
Clement Hau
Zurich Hong Kong
Tel: +852 2977 0273
[email protected]
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Our solutions
Motor fleet
When it comes to Motor Fleet Insurance, we understand that a company’s
employees are their most valuable assets – without them their business cannot
operate. Mobility is key to the modern workforce, but driving is one of the most
dangerous occupations in the world. Additionally, in a challenging financial
environment businesses are under increasing pressure to contain and reduce
fleet operations cost for all businesses. This is why at Zurich we provide
comprehensive motor fleet insurance and risk management solutions.
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Hong Kong
Japan
Singapore
Zurich has a wide product range allowing us to
personalize program design. This ranges from
traditional solutions to forms of alternative risk
financing. This can include creating or fronting
a captive, used exclusively to manage a
customer’s risk.
Our local servicing ability in Asia Pacific
China
Our objective is to place the reduction of the
customers’ total cost of risk at the heart of
everything we do. We utilize program design,
risk engineering, claims expertize, management
information and underwriting to support the
reduction of a customer’s total cost of risk.
Recognizing that the total cost of risk is not
limited to only claims cost, but also includes
uninsured losses such as absenteeism (and the
associated ‘knock-on’ effects), brand damage,
penalties associated with missed SLAs and
fuel consumption.
Our underwriting process and philosophy is
openly shared with the customer through
collaborative interactions to achieve consistent
pricing and a sustainable long-term partnership.
Our customers benefit from direct contact with
senior underwriters, who attend renewal
meetings and conduct regular reviews.
Australia
Our solutions
Appetite

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
Capacity
USD
26M
N/A
N/A
In Australia we typically cover:
 Sedan/ light commercial fleets.
 Transport business.
 Mobile contractors’ plant and equipment.
 Heavy earth moving equipment involved
in the mining industry.
 Customers requiring Self Insurance,
Under Excess or Aggregate Deductible
arrangement solutions.
Risk engineering
Our fleet risk management service is delivered by
a risk engineering team made up of industry
experienced safety and risk management
professionals. Our transportation safety services
include online claims data analysis, motor fleet
risk assessments, Risk Grading benchmarking
services, online driver training and performance
management portals and fatigue risk
management systems.
Why choose Zurich
Key contact
can offer Motor Fleet Insurance program in up to
Khoder Chehade
Claims handling
With dedicated claims officers across Australia
and access to our Motor Claims Online enquiry
system, our goal is to ensure your vehicles are
repaired quickly with minimal disruption to our
customer‘s business. We also offer choice of
repairers.
Risk Engineer/National Customer
Relationship Manager
Zurich Australia
Tel: +61 3 9940 6634
[email protected]
Head of Motor
Zurich Australia
Tel: +61 2 9995 1329
[email protected]
Mervyn Rea
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Our solutions
Property
Our customers’ assets whether they’re premises, plants or facilities keep their
businesses in operation. They are the ultimate sources of their income and
revenue. We work closely with our customers and their brokers to help prevent
losses, protect what matters and help organizations stay in business.
Working closely with our global customers, Zurich
underwriters and risk engineers can identify and
control risk in a broad range of environments,
market sectors and operational structures.
Our global presence in over 180 countries and more
than 8,000 claims professionals make up a global
network of experienced support teams that our
customers can call on to get the help they need
when they need it. We will be there to deliver what
matters when our customers need us.
We focus on both major domestic risks and
international insurance programs tailored to the
needs of each corporate customer. Zurich handles
over 3,000 international programs for many of
the world's largest companies, including financial
institutions and businesses listed on the major
stock exchanges.
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risks. We offer the flexibility to create tailored
policy wordings to meet the individual needs
of our customers.
Property Damage and Business Interruption
Our coverage protects the physical property
(building, furniture, fixtures, contents, plant
and equipment) and business interruption
resulting from:
 Fire.
 Theft.
 Flood.
 Water damage.
 Explosion.
 Natural Catastrophes, such as earthquakes
and windstorm.
Our solutions
 Man-made Catastrophes.
Our solutions provide coverage for domestic
property risks, global property risks, business
interruption and onshore and offshore energy
 Machinery breakdown and resultant
business interruption.
Our capacity
We can offer sizeable capacity according to the
individual risk.
Financial services
 Banks.
Our approach
We are committed to transparent pricing,
which means we base our pricing approach on
individual features of each location, experienced
underwriters use their knowledge and the
information provided to base their risk analysis
and pricing.
 Insurance companies/brokers.
Asia Pacific
 Roads.
 Investment companies.
 Stockbrokers.
Infrastructure
 Airports.
Australia and
New Zealand
China
Hong Kong
Japan
Singapore
 Ports/ferry terminals.
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Our focus is on risk-managed business where
we can work closely with our customers to
understand their risk transfer requirements and
to provide tailored solutions. Our appetite is very
much driven by risk quality and customer
engagement rather than industry and exposure
type. We look at business from a vast spectrum
of industry segmentations, which includes, but
is not limited to the following:
Commercial
 Security firms.
 Financial services.
Manufacturing
 Breweries.
 Metal / Steel works.
 Glass products.
 Cement and concrete blocks.
 Semiconductor and other
electronic component.
 Aerospace product and parts.
 Medical equipment and supplies.
Education
 Universities.
 Educational Institutions ranging from
elementary to secondary schools.
 Technical and trade schools.
 IT: data centres.
 Health: hospitals, clinics.
 Hospitality: hotels, service apartments.
 Professionals: law firms, accountants,
architects, engineers.
 Printing.
 Telecommunications companies.
 Transportation
 Radio and TV broadcasting.
 Real estate: property owners/managers
of residential buildings, offices,
shopping complexes.
 Casinos.
67
Why choose Zurich
Our global network and capabilities means we can
offer Property insurance programs covering multiple
territories, in up to 180 countries. We coordinate
and implement International programs putting
customers in control of their global coverage,
removing language, cultural and regulatory barriers.
Claims handling
When a claim does occur our priority is to help
put our customers back into business as soon as
possible. Our dedicated claims team proactively
manage incidents from initial notification right
through final settlement.
Pre-loss catastrophe planning
We invite customers to stress test policy response
and the effectiveness of Business Continuity
Planning following catastrophe loss scenarios.
This enables us to advise on possible claim
outcomes and provide pre-loss solutions to
possible post loss challenges.
Large loss project management
Zurich operates a unified international claims
team. Immediately following a major incident,
Zurich mobilizes in-country claims experts
supported by the Global Major Loss Team. Early
engagement encourages a collegiate approach
and minimizes misunderstandings, while
achieving an early settlement.
Early payments
This helps cash flow management and provides
our customers the confidence to invest in loss
mitigation measures and capital expenditure.
Risk engineering
Risk assessments and recommendations covering
fire, security, business interruption, natural hazards
and machinery breakdown. A consistent global
approach is provided using our global Risk Grading
system supported with Benchmarking Services.
Key contacts
John McCully
Dia Jia
Head of Property
Tel: +61 2 9995 1151
[email protected]
Head of Property and Engineering
Tel: +86 21 8454 7829
[email protected]
Kei Masuyama
Karen Chin
Senior Property Underwriter
Tel: +81 3 6832 8853
[email protected]
Property Manager
Tel: +65 6236 24 70
[email protected]
Billy Wong
Underwriting Manager, Property Lines
Tel: +852 2977 0815
[email protected]
68
Our solutions
Surety
Zurich’s specialist surety unit has been at the forefront of the surety bond
market for over 65 years developing long-standing customer relationships
through all economic cycles.
A Zurich bond is a guarantee of the obligations of
one counter party to another, with the guarantee
that Zurich will cover any potential loss and
damages up to the agreed bond limit.
 Beneficiaries of a Zurich bond can be assured
that not only has Zurich assessed the financial
strength of the contractor, but also its ability to
fulfil its obligations to completion.
Our solutions
 For the Employer: Primary responsibilities of a
Surety.
Contract Surety Bonds offering in Asia Pacific
 Bid/Tender.
 Maintenance/Warranty.
 Performance.
 Retention.
 Advance Payment.
 Supply.
Contract Surety Bonding
 Contract Surety Bonding involves a three party
agreement by which one party (the Surety)
guarantees to a second party (the project
owner/the beneficiary) the successful
performance of a contract by a third party
(the contractor/ the principal).
 Simply, a Zurich bond is a guarantee of the
obligations of one company to another, with
the assurance that Zurich will cover any
potential loss up to the agreed bond limit.
The primary responsibilities of
a Surety include:
 Prequalification of the contractor, taking
into account its ability, experience and
financial strength.
 Providing a guarantee of contractual
performance by a contractor; even if the
contractor becomes insolvent.
 Payment on default up to the agreed limit
of the bond.
For the contractor: Surety,
a credit enhancement
Surety bonds can be viewed as a credit alternative
to banking instruments eg. bank guarantees that
are commonly used. Advantages include:
 No on-going surety facility fee.
 Centralized handling and investigation of claims.
69
 No effect on bank lines of credit.
Why choose Zurich
 Zurich’s strong credit rating and global
network capabilities.
Our specialist Surety unit has been at the
forefront of the surety bond market for
over 65 years.
Other advantages include the review of bond
wordings at tender or negotiation stage without
any additional charge.
How to apply for a Zurich Surety Facility
To set up a Zurich surety facility, we usually
request the following information for review:
 We aim to build long-term relationships with
our customers.
 Last three years’ consolidated audited accounts
and up-to-date management accounts.
 The benefit to customers of having surety
capacity is that it frees up banking lines.
 Details of bonding requirements.
 Customers depend on our:
 Details of projects pipeline.
– Strong credit rating.
 Details of banking facilities, recourse
and covenants.
– Significant capacity.
 Details of completed and uncompleted projects.
Counter Indemnities and/or cross guarantees are
required from the contractor groups to support
Zurich bonds. Zurich bonds are provided as lines
of credit available on recourse terms, so that
Zurich is entitled to reclaim losses under a counter
indemnity if it has to pay out to the employer.
We will contact you upon successful application,
outlining our facility terms and, if acceptable to
you, we will issue the facility documents for
signature and return.
Our capacity
We are able to offer market leading capacity
levels available as specified in your local markets.
– International platform.
– Superior technical expertize.
– A highly personal and professional service.
– Surety facilities tailored to customer needs.
Key contact
Singapore
Lauren Lim
Head of Surety, Asia
Tel:+65 6236-1761
[email protected]
Hong Kong
Japan
Malaysia
Singapore
Chris Li
Hong Kong

China
Australia and
New Zealand
Asia Pacific




Zurich has the ability to issue locally admitted
bonds and guarantees in the above mentioned
territories in Asia Pacific. Outside of Asia Pacific,
Zurich is also licensed to issue bonds in North
America (including Canada), South America
(Brazil, Argentina, Venezuela, and Chile),
European Union countries and Turkey.
70
 Across the globe we have a dedicated team
of 150 surety underwriters with many
years of experience.
Tel: +852 2977-0635
[email protected]
Australia
Bonnie Chow
Tel: +612 9995-2235
[email protected]
71
Zurich Global Corporate in Asia Pacific
This brochure is provided solely for informational purposes and is
intended as a general description of insurance products and services
available to qualified customers through appropriately registered
companies of the Zurich Insurance Group in the Asia Pacific region,
including:





in each of Hong Kong, Singapore and Japan; Zurich Insurance
Company Ltd (a company incorporated in Switzerland) which is
registered in each of these territories;
for corporate life solutions in Hong Kong, Zurich Life Insurance
Company Ltd;
in Malaysia, Zurich Insurance Malaysia Berhad;
in China, Zurich General Insurance Company (China) Limited;
and
in Australia, Zurich Australian Insurance Limited ABN 13 000 296
640.
138348A01 (03/15) ZCA
72

Zurich solutions for corporates

Transcription

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