Lockton

Lockton is contracted by PCRIC as its Insurance Manager and some of its activities include:

  • Assisting the client company board (“the Board”) or authorised representative in the design of the insurance program to be implemented by the Client.
  • Analysing the insurance portfolio based on the coverage selections made by each insured country calculating the aggregate risk profile, average expected loss amounts and possible maximum loss amounts to the portfolio.
  • Estimating the future capital required by the Client based on past claims experience, anticipated future premium levels and anticipated level of risk retained.
  • Presenting the results of the above analysis to the Board, making recommendations on the future level of risk retention and reinsurance strategy, and assist with updating the business plan accordingly.
  • Controlling the fiduciary aspects of the insurance program of the Client under guidance from the Client’s CEO.