Professions & Financial Risks - PROFIN
In a constantly changing and increasingly litigious business world, professionals in all sectors are exposed to the risk of legal liability should they err in the professional services they provide. It is therefore critical that companies and individuals not only safeguard themselves from any adverse consequences of their business activities, but also ensure the assets they own are adequately protected.
To assist with the management of these important risks, Lockton Professions & Financial Risks (ProFin) offers a dedicated team of experts who provide a range of risk services designed to provide robust risk solutions in Professional and Management Liability and Crime. We have the expertise and experience to structure individual insurance covers and also schemes.
Our service offering can be tailored to suit client needs and we are therefore able to operate in retail, wholesale and facultative reinsurance environments across our product range for both financial and commercial organisations.
Clients can rely on Lockton’s Financial Solutions Advisory Team’s expertise to help reduce the strain that large deductible casualty insurance programmes can put on a company’s capital sources. This team of experts in finance, insurance and capital management develops efficient risk financing solutions. They have capabilities in:
Structured Risk Solutions – Alternative risk transfer programs that offer companies long-term risk financing solutions customised to meet their financial objectives.
Credit Analysis & Collateral Negotiation – Provide analysis to help companies identify the most efficient forms of collateral and reduce the amount required to support their casualty insurance programmes.
The Financial Solutions Advisory Team coordinates resources with Lockton’s local insurance professionals, London-based credit team and Risk Management group. Through these teams, clients can access some of the industry’s leading experts in insurance accounting and finance, actuarial analysis, captive and rent-a-captive solutions, and programme business.
At Lockton, we treat every claim as if it is our own. It is our philosophy that claims must be handled professionally and expeditiously. Therefore we have in our team lawyers, who had been in private law practice before joining us. They are well equipped to analyse claims and coverage issues and help in the resolution of claims efficiently and effectively.
"The Law Society of Singapore is grateful for its long association with Lockton. Our experience with Lockton has been extremely positive and over the years, we have found that Lockton always delivers on what they have promised. They are thoroughly professional and can be completely trusted. They are to us a most reliable partner in the development and administration of the PI Scheme and especially in the proactive management of claims for our members."
Mr Lok Vi Ming SC
Vice President /Chairman
Law Society of Singapore/Professional Indemnity Committee 2011
"Lockton is a professional broker providing unique and professional services in searching the right liability insurance provider to Airlines industry. They understand well our business and needs, very importantly suggesting right policy to protect our business. Served by experienced team with thoughtful and considerate advises to us which significantly saved a lot of cost and time. Responsive, liable, quick action whenever claims or problems happen.
A special thanks to our account manager, Canny Wong, The service and personal attention we received from her is exceptional and unexpected.
Lockton is an industry leader. We look forward to a continued partnership for many years."
Operation Manager, Hong Kong
MEGA Maldives Airlines