One of the most pressing of problems for insurance buyers is ensuring that their insurance programmes are compliant globally. Accessing relevant information on local insurance legislation and regulation can be difficult. Insurance buyers that inadvertently agree to a non-compliant programme can potentially face non-payment of claims, fines and exposure to reputational damage. In extreme cases, those responsible can even face imprisonment.
Airmic, Axco and six leading insurance brokers have developed the Insight Risk Manager Database that provides the following;