ACE’s 10 Top Tips to Help BIBA Brokers Prepare for the Global Challenge

LONDON--(BUSINESS WIRE)--ACE Group will highlight ten top tips for brokers on the intricacies of placing effective, compliant multinational insurance programmes at the BIBA 2015 Conference and Exhibition that opens in Manchester today.

Earlier this year ACE launched ACE Multinational Partner, a package cover for UK & Ireland based companies with one or more overseas subsidiary1. As a response to the related research in which brokers expressed concern about lack of knowledge and expertise in placing complex multinational programmes, ACE has developed its top tips for brokers for successfully managing global programmes.

1. Take a bottom up approach - when building a global programme, look at each territory individually and ask 'what does the insured need in the event of a loss?' Structuring the programme around the answers will allow you to respond to your client’s individual needs.

2. Challenge your insurer partner - service is key so challenge your insurer partner to deliver on global service for your client. When will they issue local policies, certificates, and invoices? What service standards do you want in place? How will they help you monitor programme data in real time?

3. Give consideration to claims handling at an early stage – quiz prospective insurers on how they would handle a loss overseas. Can local claims teams provide support on the ground when needed? How will they ensure the client management team is kept up to date? And where will the claim be paid?

4. Don’t forget your clients’ risks – compliance with local regulations applies to niche risks too. One central policy will not respond to all eventualities in all territories. Discuss with your client the need for local policies for their D&O, accident & health, marine and other specialist lines placements.

5. Think compliance - non-compliance with local regulations can potentially result in fines, loss of licence, reputational damage and business interruption for your client and for you. Ensure you have reliable sources for compliance guidance, and keep up to date with changes.

6. Think local – local policies aren’t just about compliance, they provide local market standard cover, and are often required for local territory certificates, travel visas etc. It’s important these needs are taken into consideration when structuring the programme.

7. Demand transparency from your insurer partners - your client will need evidence of programme compliance, everything from visibility over premium allocation, to local taxes and charges, to what the local policy wording and certificates say. Challenge your insurer partners to provide this transparency.

8. Put all your eggs in one basket - one comprehensive, well-structured multinational programme performs better than multiple policies in multiple jurisdictions placed with multiple carriers, especially where your client has interdependency between territories.

9. Consider both cost and benefits - multinational programmes may appear more expensive at first sight, but in the long run they are more cost effective as they give greater certainty and consistency of coverage and service.

10. Take a team approach - make sure the right level of visibility, procedures, controls and communication processes are in place, and there is constant communication involving all parties. Don't worry if you don't have all of the answers yourself. Be prepared to pull in knowledge where required to build the right team for your client. This is likely to include a partner insurer, and brokers in other territories.

Jeff Hobson, ACE Multinational Partner Project Team Member, ACE European Group, said:

“We know from our research that regional brokers across the UK are keen to expand their knowledge of multinational programme placement because more and more of their clients are expanding overseas for growth. However, cross-border policies are a complex minefield that many find hard to navigate.”

“As a leading insurer with an extensive global network and a strong track record in managing multinational programmes for clients of all sizes and industries, we are well placed to help both brokers and their clients to understand the challenges and offer easy to manage, cohesive and compliant solutions.”


About ACE:

ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.

ACE UK & Ireland’s five regions are:

Ireland (Dublin and Belfast) ∙ Scotland (Glasgow, Aberdeen) ∙ The North (Leeds, Manchester, Newcastle) ∙ Midlands (Birmingham) ∙ London and South East (London, Maidstone, Reading, Watford)

Additional information can be found at:



ACE Group
Celine Lachevre
Marketing Manager (PR & Events)