Insurance due diligence

An effective insurance and risk management program is essential for a company or project to succeed in today’s competitive world due to the emerging and evolving risks of doing business. But how do you know whether your insurance program is right for your business? Conducting a detailed risk and insurance due diligence study is the first step, and Profin Green’s dedicated professionals can help.

Profin Green can help with your risk and insurance due diligence study

A risk and insurance due diligence study is an independent assessment of your project's and/or company’s risk management and/or insurance programs by Profin.
The review looks into the following areas:

• Aligning coverage with critical risk exposures, for both project and company
• Are your risk management and/or insurance programs in compliance with the minimum requirements of applicable laws and regulations?
• Are your risk management and / or insurance programs being conducted under acceptable corporate and industry best practices standards?
• Is there an updated gap analysis done detailing insured and uninsured risks?
• Are your insurance programs in compliance with contractual obligations, e.g. lease agreements, liabilities assumed under contract, insurance provisions under loan agreements for heavily financed undertakings?
• Is your insurance cover secured with reputable insurance carriers?

Comprehensive report

After the due diligence is complete, Profin Green will provide you with a comprehensive report, complete with analysis and recommendations.

Based on information provided, the report will outline:

• An inventory of the most critical operational risk exposures
• Any “red flag” uninsured gaps and other serious deficiencies
• A prioritized insurance program recommendation

The benefits of a Profin due diligence study

Performing a risk and insurance due diligence study delivers a range of benefits:

• IDD is a very useful management tool
• IDD demonstrates that the company is serious about risk management and corporate governance
• IDD demonstrates accountability of company officers

Want to know more? Please contact our specialists directly.