Lombard Insurance have close on 30 years’ experience in delivering guarantees across multiple industries. Our differentiator is in understanding the nuances of different markets, the client and beneficiary specific requirements and the related situational risk. This insight allows us to structure specialist guarantees that best suit our clients’ needs.
With this mindset and the upcoming termination of all IGF policies on the 31st of March 2019, a new approach is needed to secure premium collections by intermediaries.
Lombard has developed a solution, offering intermediaries a Collections Guarantee to provide to insurers in order to continue collecting premium on their behalf.
The guarantees are structured on an individual basis and each insurer will receive a separate guarantee covering the premium collection from each intermediary. The value of the guarantee is determined by the individual insurers.
This solution enables brokers to continue collecting premium on the insurer’s behalf, it enables the client to continue paying one premium for possible numerous policies and it gives the insurer security that they will get the premium for the risk they are taking.
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