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International Energy Insurance and Reinsurance
Petro-Chem offers it's full range of Energy Insurance expertise to international and multinational clients. Depending on the risk and situation, we can function as either a Retail Insurance Broker working with Multinational Insurers, or as a Reinsurance Broker (by offering Facultative Reinsurance, of a risk for a local or Captive Insurance Company).
We have extensive experience in negotiating and implementing Global Master Property and Casualty programs, along with the issuance of all locally-admitted underlying policies. To comply with certain local insurance regulations or facilitate a client's specific country activities, we can further involve our extensive network of local correspondent brokers in countries around the globe. Global Master programs, involving a client's captive insurance company, are routinely coordinated by our staff and included in our program designs.
Our Facultative Reinsurance services have assisted many insurers in foreign countries in succeeding in intense competition for certain business in their local market. Likewise, we work with a variety of foreign industrial companies and their existing local retail insurance broker to creative an effective and competitive program via facultative reinsurance (usually for a client-nominated insurer), for an entire placement or a specific portion of a program. Most international Facultative Reinsurance programs we undertake involve Property and Construction-related risks for Energy and certain Heavy Industries, but we of course can offer support on other lines of coverage where we have expertise, also. We have extensive facultative reinsurance experience with Latin American, Far Eastern and Middle Eastern Insurers.
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