ǿմý Multinational Insurance for global businesses

ǿմý serves large and mid-sized companies that need cross-border, multi-location coverage, including both risk transfer programs and captive solutions, led by ǿմý's international corporate insurance carrier, ǿմý Commercial.

Effective management of global risks is ǿմý Commercial's core business: ǿմý Multinational offers a fully end-to-end customized service for the cross-border exposures of its clients, covering also risk transfer and captive services.At the forefront of the proposition are centrally coordinated global insurance programs that provide locally admitted policies tailored to the client's geographic footprint and specific risk and exposure requirements – all in full compliance with relevant insurance regulations and local laws.

Every program client benefits from a dedicated team of specialist underwriters, program handlers, claims experts and risk engineers. All are there to build the optimal program structure, to anticipate issues before they arise and to coordinate seamless service delivery.

As a leading provider of global insurance solutions for corporate clients across a diversity of trade sectors, we currently manage over 2,800 international insurance programs (IIP).

This makes ǿմý Commercial the largest contributor to ǿմý Multinational, the Group-wide center where ǿմý is bundling its expertise for global insurance for international companies of all sizes, from the largest multinationals to mid-market companies globalizing their business.

Managing cross-border risks is a core business and growth segment of ǿմý Group, operating one of the world's largest insurance networks in over 200 countries and territories, with own local entities in more than 70 markets. Within the ǿմý Multinational framework, ǿմý Commercial as well as local ǿմý P&C companies are working closely together to deliver centrally managed programs for multinational companies, leveraging a harmonized underwriting approach and product model, one consistently managed global network as well as operational, legal and tax services.

Our network and global infrastructure is second-to-none – this means we can handle the complex challenges of local regulatory demands wherever you operate.

Our flexible approach recognizes that no one solution can fit every challenge. Our program options range from stand-alone local policy provision through to a globally coordinated solution which combines a centrally issued “Master Policy” with admitted locally policies in all program countries – all backed by ǿմý' strategic service partner network.

Captive Solutionsare integrated as a core part of ǿմý Commercial's Multinational offering. Our Captive Services respond to demand from an increasing number of large multinational companies who operate their own in-house insurance carriers or are looking to self-retain a higher portion of their risks. For these clients ǿմý Commercial presents its full range of solutions, from traditional, often multi-line global programs to captive fronting and reinsurance as well as hybrid combinations of traditional and alternative risk transfer.

Property Insurance

Liability Insurance

Financial Lines Insurance

Energy & Construction Insurance

Entertainment Insurance

Marine Cargo Insurance

Captive Solutions

ǿմý Commercial will consider every risk on its own merit.Capacity and coverage offered to individual clients subject to hazard, Nat Cat exposure, grading, terms & conditions.
The products and services described on this page may not be available in all ǿմý Commercial locations. This is for your general information only.Please contact your local brokerfor full information on local product availability.
Our promise to you
Our focusis on delivering the very best global program services to international businesses wherever they operate - fromAustralia toZimbabwe. Moreover, our programs cover a wide range of exposures.
Our serviceis founded on helping clients manage the 4C's: Compliance, Cost, Coverage and Control. The aim is to deliver the right insurance cover in the right places at the right time, with maximum peace of mind. We combine this with a partnership-based risk consulting and claims approach.
Our experiencein ǿմý Commercial as a leading provider of global insurance solutions for corporate clients has been established over many years with an array of Fortune 500 customers. Our capacity to adopt a central approach to the coordination of clients' global risk exposure means that we can take the "big picture" perspective in the event of a claim.
Our networkand global infrastructure is able to handle the complex challenges of local regulatory demands, combining the services of ǿմý-owned companies in more than 70 countries with selected network partners in others. The result is international insurance coverage in well over 200 countries and territories.
We strive to tailor our global insurance programs to match the needs of clients, whatever their risk portfolio and wherever they are doing business. Our flexible approach recognizes that no one solution can fit every challenge - from comprehensive master programs, through “Freedom of Services” and stand-alone local policies to captive solutions: all options are available. We are committed to full transparency through defined service level agreements and easy access to ǿմý decision makers, complemented by a consultative risk management approach and a “no surprises” claims culture.
Design options
ǿմý Multinational offers clients the breadth of our product range coupled with a commitment to deliver a solution that is right for you. The following represent a range of design options which can be deployed depending on client circumstances:

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Client's needs
Tailored solution
Standalone local policies These may be suitable in circumstances where clients have adopted a lower level of financial integration or a less centralized regime of risk assessment & management:

1. Locally admitted policies issued by ǿմý offices or our strategic service partners
2. Handling requirements for taxes, levies and fees agreed locally
3. No reinsurance "pooling" applicable

DIC/DIL above local policies Specialist ǿմý teams managing a worldwide network spanning more than 200 locations
Single European policy (FOS)

Through application of a Freedom of Service (FOS) license, we are able to offer insurance coverage within the European Union (EU) and the European Economic Area (EEA):

1. The ability to provide admitted cover for 27 EU and 3 EEA countries
2. Compliance with country specific tax and compulsory insurance rules
3. Full adherence to local tax legislation, with central co-ordination of insurance premium tax (IPT) transfer

Centrally controlled master program This represents the highest level of tailored program solutions. Master and local covers are fully integrated and aligned – and specific regulatory and legal requirements are all considered as part of the central program design.
For clients operating wholly or partially through a captive, ǿմý also offers a wide range of captive fronting services which can be tailored to specific requirements.
Your program journey
Taking a global program from concept to reality may seem like a complex process. In practice, however, ǿմý Commercial adopts a stage approach when creating tailored insurance programs for our clients. Each stage involves different actions and milestones which ensure you receive the best solution for your unique profile and requirements:

Country analysis

  • Comprehensive country information analysis, including tax, tariff and cash before cover insights

Compliance analysis

  • Full description of our capabilities to offer insurance solutions on a global and local basis to ensure compliance with licensing regulations

Program design support

  • Advice on optimal Multinational program design, including deductibles, captive retentions and tower structures

Immediate priorities

  • Arrange for cash before cover invoices to be issuedpre-inception to ensure seamless coverage in transition
  • Arranging for certificates to be issued as required (pre-allocation ofpremiums where required) to ensure continuation of local business activity
  • Assignment of Multinational Program Manager, as well as pre-inceptionmeeting arranged to agree deployment plan

Program information collation:Liaising with all internal and external stakeholders to ensureall information collated to implement program:

  • Premium allocation, including checking exchange rates, collection protocols, tax, tariff and minimum premium standards are met
  • Risk information including schedule of insured values and reinsurance slip
  • Local client/broker contact information to ensure local policy issurance is not delayed

Network notification

  • Once information is collected, clear instructions sent immediately to our network via our digital Global Program System (GPS), creating clear audit trail

Focused program tracking

  • Establish implementation tracker to give exact status onpolicy issurance and local premium payment
  • Regular touchpoints with our brokers and clients to discuss
  • Instant program tracking updates also availablein our self serve digital portal ǿմý Commercial Online

Multilevel issue resolution

  • When isssues occur, you can be rest assured that yourdedicated Multinational Program Manager will take it seriously
  • Clear issue resolution and escalation process established for each program utilising our regional network management team to ensure swift resolution

Program evaluation

  • Post implementation meetings with all stakeholders toensure all activities are on track and transparently discussimprovements to the process on all sides ahead of next renewal
Tackling your international insurance challenges
At ǿմý Commercial, the effective management of global insurance risk is at our core. In a truly global marketplace, customization and flexibility are still essential and we recognize the unique requirements of every client, having established a strong reputation through our own global footprint as a leading provider of global insurance solutions.

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The challenge
ǿմý's response
Delivering a consistent risk management response across a global risk portfolio A centrally coordinated program framework combining the best underwriting, risk consulting and claims expertise
Worldwide harmonization of coverage Master policy with DIC/DIL coverage above local policies
Central oversight with local coverage Specialist ǿմý teams managing a worldwide network spanning more than 200 locations
Local policies with competitive levels of coverage backed by a Master policy with DIC/DIL for seamless protection Local policies always provided to a "good local market standard", thereby ensuring optimal regulatory compliance
Avoiding delays in localized claim settlement Clear claims protocols and centrally coordinated and managed claims handling promoting consistency and speed of response
Obtaining up-to-date management information and data Full transparency of program information, centrally collated and backed by service level agreements