Extending the length and breadth of insurance coverage

Integrated insurance programmes (which allow a company to secure insurance across multiple lines, typically at least two, in a single policy) are fast becoming a hot topic of conversation among risk managers and chief financial officiers, as growing numbers of companies take a strategic view of risk. With integrated insurance programmes, companies benefit from a level of customization not typically found with the traditional insurance buying approach. Additionally, the integrated approach can eliminate the “gray” areas that may exist when insurance is delivered line-by-line. Here, Jeffrey C. Summerville , president of Zurich Global Corporate Structured Solutions Group in New York, not only outlines the benefits but also addresses the challenges associated with integrated insurance programmes

The name of the game with integrated insurance is not “playing” insurance market cycles, but rather adopting a long-term perspective and sidestepping altogether the year-to-year volatility that may negatively affect insurance terms, conditions and pricing.