There are 4 stages of managing risk:
- Risk analysis – what are my exposures?
- Risk mitigation – can I realistically, practically & economically reduce or prevent them?
- Risk retention – how much of my residual risk am I strong enough to retain?
- Risk transfer – how much is still left over and what will be the cost of insurance?
WHO DO I INSURE WITH/THROUGH?
There are several ways to do this. We can explain the upside and/or downside of whichever route you may wish to take.
- At How2Yacht/IMF, we align ourselves with our clients. We charge a pre-agreed fee for our facilitation services, so there are no hidden costs. Any transactional commissions that would normally be included are fully and transparently rebated to you. These can be as much as 15% of the premium you would usually pay.
- At the time you need us most, when you have suffered a loss, we earn our revenues through a pre-agreed commission on claims recoveries – typically 2%.
HOW CAN I BE SURE THAT HOW2YACHT/IMF WILL DELIVER?
- We offer you a guaranteed saving on premiums quoted from any other source. If we do not deliver this, you pay us nothing.
- We have the expertise and market access required.
- We are fully aligned, have lower overheads and no shareholder pressure – our duty is to you.
- In the event of a claim, it is in our interests to expend our full resources to achieve the best possible financial outcome for you. For insurers and brokers, the reverse is true.
- Free risk analysis – we will analyse your exposures, free of charge.
- Free insurance “health check” – we will match those exposures against your current policy(ies) and provide our report and recommendations, also free of charge.
- Failsafe premium transfer – when you engage How2/IMF, you pay your premium directly to the insurance company. This means you have absolute contractual certainty – you know that you are always insured.