Facultative Business
The Team operates as market leader in reinsurance services, through access to the entire European, extra-European and London reinsurance markets (Lloyd’s and others).
By performing facultative broking activities, RIB offers reinsurance solutions and services to insurance companies, modelled on specific needs and on all business lines (proportional and non-proportional), using also dedicated tools (facilities, binders, etc.).
Attention to detail is accompanied by high profile technical capacity which results in building of extreme complexity covers, with solutions permitting risk handling in line with the specific requirements of our counterparties.
Activities / Services :
- Research and technical analysis of all the contractual documents
- Evaluation of any possible reinsurance solution
- Finding of the most cost-effective quotes on the reinsurance market
- Management of structure placement, therefore proportional and/or non-proportional cessions.
Construction & Engineering
RIB has operated in the Engineering sector since its foundation becoming, by virtue of its team’s expertise and competence, an indisputable Italian market leader able to deal with any problem which may arise when carrying out a project.
RIB provides its services to both insurance and construction companies for the following types of cover:
- Construction/Erection All Risks
- Third-Party Liability
- Advance Loss of Profit/Delay in Start-up
- Contractors Plant and Equipment
- Decennial Liability/ Inherent Defects Insurance
- Professional Indemnity
- Machinery Breakdown
- Liquidated Damages
- Oil & Gas onshore and offshore
The Engineering team is also capable of providing highly-qualified client assistance for:
- Risk Analysis prior to project awarding
- Tender/Bid documents insurance review
- Contract review, drafting of documents
- Insurance project cost estimate
- Owner/Lenders interface
- Advisory programs
- "Glocal approach” to risk, coordinating all resources and local international partners to reach a common goal.
Our team provides insurance and reinsurance support also in the renewable energy sector (windfarms, photovoltaic systems, biogas etc.).
In recent years, the RIB Group has taken part in the development of a number of significant re-insurance programmes in Italy and abroad
Property
RIB provides services and solution fully meeting the expectations and needs of our clients. Our comprehensive range of solutions is the result of our in-depth specialist knowledge of international markets. All our services have a tailor-made approach insofar as every problem requires a specific solution.
The main services that we offer are:
- Proportional and/or non-proportional basic placement
- All Risks Property and Business Interruption Cover for national and international programmes
- Operational cover for permits following the construction period
- Electronic risk cover
- Carve-out covers with special reference to terrorism and catastrophe events
- Machinery breakdown
- Business continuity programmes
- Stand-alone terrorism cover
Casualty & Special Lines
RIB specialises in proportional and non-proportional placements and complex combinations (primary + excesses) and has access to all the main reinsurance markets around the world, with which it interacts by way of dedicated facilities or open market facultative risks.
T.P. LIABILITY
- General/Employers’ Liability
- Medical and clinical trial Liability
- Product Liability
- Professional Liability and Directors’ & Officers’ Liability
- Public authorities and gross negligence Liability
SPECIAL RISKS
- Events cancellation
- Prize Indemnity, Contractual Bonus, Over Redemption
- Film productions
- Tampering
- Product Recall
- Fidelity
- Extended warranty
- All-risks motor insurance
- Livestock and Bloodstock Insurance
Marine, Aviation, Fine Art & Specie
The activity branch provides support to leading Italian Insurance Companies, by way of facultative reinsurance, and to all the operators in the Marine sector with direct insurance solutions and dedicated policies developed in cooperation with major market brokers.
In addition to traditional policies such as Hull, Machinery and Cargo, the Marine team offers clients the opportunity to obtain support on specific covers such as Construction Risks (shipyards), port operators’ liability, exhibitions and art works, aviation and all matters connected to the world of Marine.
MARINE HULL
- Hull and Machinery
- Charter insurance
- Protection & Indemnity
- Ports and marine terminals
- Naval construction
- Building sites and restoration risks
CARGO
- Cargo transport insurance (individual and subscription cover)
- International projects (including DSU)
- Storage risks
- Carrier and forwarding agent’s liability
- Containers policies
AVIATION
- Aircraft hull insurance (private and airline)
- Civil liability aircraft
- Aerospace risks
- Satellite insurance
ART AND VALUABLES
- Art works (exhibitions, private collections, art galleries and storage)
- Jewellery
- Cash and valuables
Life, Accident & Health
The Life, Accident and Health line is a strong point for RIB. Our many years of experience as a group of dedicated professionals with know-how in these special lines of business make us one of the major reinsurance brokers in the sector.
Using internal methods of analysis and a network of international contacts specialized in this sector, as well as “ad hoc” teams of actuaries, RIB frequently acts as a “product factory”, designing products to meet clients’ specific requirements and liaising between reinsurance capacity and local insurance businesses.
Among its many activities, RIB is active in:
- Solutions research tailored to clients’ production and budget needs
- Finding of dedicated capacities
- Formulation of insurance-reinsurance facilities
- Regulations and wording
- Product development
Offered products are:
- Whole-life and term-life cover
- Individual and cumulative P.A.; medical expenses reimbursement; temporary and permanent disability
- Employee Benefit
- Key - Men Cover
- Sports risks (individual and team), Hiring, Assets, Career End insurance
- War and Terrorism cover
Motor Liability
RIB deals with a vast range of Casualty activities including Motor liability offering detailed analysis on this complex and key line of insurance.
- Portfolio and individual company fleet policy analyses
- “Experience" and “exposure” modelling
- Evaluation of different combined options
- Technical reinsurance and capital implications consultancy
- Alternative reinsurance solutions
- In-depth market knowledge (historical databases shared with reinsurers)
Our goal is to cooperate with clients to support them in making the best decisions in this Italian market key line.
Financial Institutions - Banker’s Blanket Bond
Capitalising on our vast experience in this business, RIB assists its clients in the definition and placement of B.B. Bonds and financial institutions covers (Professional liability and Directors’ liability).
BBB covers extend over various sections:
- Employee fidelity
- Loss of valuables in factories
- Damage during transport
- Falsification of securities and documents
- Forgery of money
- Damage to factories and contents
- Fire to furniture and equipment
- Fraud through computer systems
Credit & Surety
RIB works closely with the leading insurance companies in the Italian market on Credit & Surety business. Thanks to its long-standing expertise, RIB ensures a high level standard of service.
In the Credit segment, RIB offers its services to insurance companies, liaising with a network of expert reinsurers with whom it shares a long and fruitful cooperation.
It is a highly-specialised business which requires constant updating to support underwriting activities carried out by Insurance Companies.
As a market-oriented player, RIB is always updated also in the Bond business, assisting clients in their participation to tenders and contractual formalities following tender awards.
The specific activities in which RIB offers its assistance are the following:
- City Council Fees
- Extension of inheritance tax payments, VAT credits
- Regional, national European Union contributions
- Customs
- Judicial guarantees
- Disposers, policies in favour of the Ministry of the Environment, pits management
- Bid bonds
- Performance bonds
- Maintenance bonds
- Advanced payment bonds
Cyber Risks
The ever-increasing use of technology has opened up innovative reinsurance scenarios. Accidental damage to technology and above all hacking attacks (Cyber Crime) represent new threats that every company needs to know how to face. RIB, together with leading international players, can offer a number of solutions to protect the insureds and their clients, including:
- Third-party liability for theft, loss, damage and destruction of data
- Incident and crisis costs following breach of data
- Losses from business interruption, restoration costs and cyber extortion arising from an attack to the insured.
Credit Protection Insurance
RIB works on leading international reinsurance markets, locating abilities and developing products with a view to cover refund of residual debt or payment of instalments in all the cases provided for.
Operating both in the Life and Non Life, RIB supports the insurance market developing a range of reinsurance products to protect insurance companies’ clients underwriting mortgages, personal loans, revolving card credit or special purpose loans.
Products are tailored to cover the most diverse market requirements such as, for example, protection of loved ones in moments of difficulty, ensuring peace of mind in life’s unforeseeable events.
Covers offered and reinsured are the following:
Repayment of residual debt due to:
- Death
- Serious illness
- Total permanent invalidity
Repayment of instalments for:
- Temporary inability to work
- Involuntary loss of employment
- Hospitalisation
RIB can develop a product from scratch, customise it to meet the client’s specific needs and identify the most suitable international reinsurance solution.
Agro
RIB supports industry operators and proposes itself as a partner for the management of meteorological risks with a dedicated structure.
Among the services we can provide:
- Design of new products and tailor-made solutions
- Insurance and reinsurance placement
- Consultancy as Government Advisory
- Solutions for weather risk managing