In this article SCR’s Richard Scurrell shares recent examples of how an integrated approach combined with deep expertise can aid better understanding of risks and ultimately better coverage.
Challenge
Two separate private entities have international operations, with contracts and business obligations that sometimes requires them to send their people into harm’s way in high risk territories.
As part of their duty of care, both entities want to ensure that their risk mitigation and risk transfer strategies are as informed and robust as possible.
Situation
Both of the organisations sourced country risk information to help inform their risk mitigation and risk funding strategies.
The first new client company is in the television and communications sector with locations worldwide. The second is a large government contractor that provides continuing support for essential missions of the US government and its allies and have ready access to US government agency intelligence.
Solution
The media firm utilised the services of SCR’s Alert:24, our unique and wholly owned service supplier that links risk identification and mitigation with crisis coordination across the full range of threat and solutions spectrum. The government contractor elected to supplement government intelligence with the Alert:24 risk tailored services.
Underwriters were given increased comfort about the risk management integrity of the two organisations, combined with our ability to leverage our own global-leading market position for kidnap and ransom.
Result
Ultimately, the benefits for the clients were three-fold: Greater operational awareness, broader coverage at more competitive pricing.