Insurance audit

Insurance audit

The BTLA insurance audit service is addressed to entities that want to check the comprehensiveness and scope of the current insurance cover in terms of potential risk to which they may be exposed. Based on many years of experience in auditing processes, we notice that a large group of entrepreneurs and insurance program managers using the services of often inexperienced brokerage firms and other intermediaries are not aware of the risk to which their enterprises are actually exposed. The BTLA law firm proposes to perform an audit, taking into account the needs of both small companies that are interested in obtaining knowledge about the scope of their insurance cover, as well as entities that are the subject of transactions or changes in the management board, interested in a complete risk analysis, its shortcomings and the recommended method management.

How will an insurance audit performed by BTLA help your company?

Based on our many years of experience, we will check the key issues protecting the interests of our clients, whether the scope of insurance is well suited, the business liability insurance is tight, whether the value of the property on the policy is reliably estimated, whether the price of the policy is not too high and, most importantly, whether there were any problems with past.

In addition, we check the degree of complexity of insurance programs. Our professional, rigorous approach provides our clients with reliable information about the risks associated with the concluded policies. The above approach allows us to cooperate with our clients on a long-term basis.

How can BTLA help your organization conduct an insurance audit?

    • we will prepare the structure of the insurance program,
    • we will define the areas of activity and uninsured risks,
    • we will advise on extending the scope of protection and existing liability limits,
    • we will analyze the loss ratio, reported/open claims and retained claims net of reinsurance,
    • we will indicate the scope of risk transfer in comparison with the losses retained net of reinsurance,
    • we will analyze policies from previous years, especially in relation to third party liability insurance,
        • we will analyze the impact of the transaction on the continuation of insurance contracts and the possibility of submitting claims after its closure,
        • we will advise you on determining the current and target cost of the insurance program,
        • we will analyze sales agreements (SPA) – we recommend provisions regarding the transfer of responsibility,
        • we will advise on the development of insurance to protect the buyer and the seller throughout the merger and acquisition (M&A) process.

      It is recommended to perform an insurance audit with a professional advisor such as BTLA, because our help is distinguished by:

      • Efficiency and effective performance – by carrying out insurance audits at our clients, we successively improve the quality of insurance cover and ultimately improve security, we perform complex insurance audits that require high competence.
      • Comprehensive solutions – we offer comprehensive solutions that comprehensively solve our clients’ problems, we provide not only professional consulting services, but above all specific and durable solutions.
          • Expertise in the field of insurance audits – the BTLA team consists of tax advisors, attorneys-at-law and legal advisers as well as multiple disciplinary experts who are distinguished by comprehensive experience and in-depth knowledge of business practice in the area of audits.
          • Individual approach to the client – we accompany clients at every stage of the case, supporting and effectively helping in all kinds of ongoing projects.