Insurance

Harneys Insurance Management provides a full range of captive insurance management services, including risk management consultancy, risk financing consultancy, captive insurance feasibility studies and captive insurance formation and management. These services can be extended to companies, associations and individuals that are motivated to reap the benefits of increased risk retention.

 

Through our association with Harney Westwood & Riegels we can provide seamless service which draws both from our own highly qualified risk management professionals and from a wide range of related professional expertise.

 

 

We provide risk management consultancy for companies and individuals wishing to implement a new risk management programme or improve an existing one. In the case of a new programme, our consultancy will provide comprehensive analysis of the exposures, a review of techniques to mitigate these exposures, and recommendations on risk management programme design and implementation. Consultancies involving existing programmes will include a comprehensive review of the existing risk management approach, a comparison with other models in the same industry segment, prioritised recommendations for improvements and a thorough risk/benefit analysis.

 

Through our risk financing consultancy we assess recommended levels of retention based on a company’s risk and catastrophe exposures together with their available capital and corporate appetite for retaining risk. Our consultancy will include the creation of various exposure models, including a disaster model.

 

 

Through our captive insurance feasibility studies we help clients assess exposures, loss experience, current insurance cost and current risk transfer mechanisms, and advise on the feasibility of a captive insurance company or a segregated portfolio company. This includes a recommendation on the domicile most suitable for the captive.

 

Through our captive insurance formation service, we can prepare and submit an insurance application and business plan to the relevant Insurance Authority in the domicile selected. Our mission is to make the process involved in forming a captive as easy and inexpensive as possible but at the same time to ensure that you are compliant with all of the regulations and requirements of the Regulator.

 

Through our captive insurance management service we provide underwriting, claims, reinsurance recovery, accounting and secretarial services to captive insurance owners in the British Virgin Islands.

Broking Services

Harneys Insurance Broking Services Limited provides broking and consultancy advice on commercial insurance requirements and specialise in the marine and property sectors.

Harneys Insurance Broking Services Limited is licenced and regulated by the BVI Financial Services Commission. We provide comprehensive personalised service from quotation to policy issue, plus claims support where relevant. We undertake only to recommend approved and licensed insurers with appropriate financial ratings.

Our Managing Director is a qualified Chartered Insurance Practitioner with 30 years insurance experience. The Marine Manager is an experienced marine professional with a love of and strong knowledge of yachts. He provides a bespoke service which includes meeting with you on your yacht if required.