Specialist
Practices

Cooperative Insurance Consultancy Co. Ltd. (CIC) operates both directly and through a network of global partner channels to ensure that our clients’ interests are protected, and potential exposures are effectively addressed, regardless of their location around the world. Our approach is highly flexible, tailored to meet the unique preferences of each client. We can adopt a centralized approach to streamline communication and policy structures, or we can collaborate with different jurisdictions individually to address their specific insurance requirements.

Our cross-border solutions are ideally suited for companies with operations in various territories or those venturing into new markets. We specialize in ensuring that your operations are comprehensively covered in the following critical areas:

• Compliance verification
• Compulsory insurance protection
• Local regulation relating the health insurance
• Financial line
• Kidnap and Ransom
• Liability exposure
• Marine cargo
• Local insurer communication
• Admitted insurance
• Reinsurance support

Cooperative Insurance Consultancy Co. Ltd. (CIC) offers specialized advisory services tailored for banks and other financiers, including private equity firms and family offices, seeking to safeguard their investments through strategic insurance and operational security measures. Our extensive regional experience equips us to protect the interests of our lender clients by systematically identifying exposures, ensuring compliance with processes, meeting requirements, and efficiently managing claims to mitigate investment losses and financial impact.

Our comprehensive range of services include:

• Defining insurance requirements (cover, insurers, prices, benchmarking)
• Defining risk management requirements
• Defining lender/beneficiary responsibilities, reporting guidelines, and management process
• Supporting beneficiaries with insurance procurement
• Program auditing and lender reporting (pre and post-procurement)
• Compliance Certification

Board advisory services are an essential component for company boards seeking heightened visibility and quality control over their insurance and risk management programs. Unlike conventional insurance services that often prioritize self-interest, our mission at Cooperative Insurance Consultancy Co. Ltd. (CIC) is to cultivate trusted partnerships with our clients. We achieve this by equipping their senior leadership teams with the necessary tools and knowledge to make informed decisions that safeguard their organization’s interests.

Our board advisory services encompass a wide array of essential tools and solutions, including:

• Development of internal processes and procedures
• Program guidelines
• M&A opportunities
• Insurance Audit
• Reinsurance placement and updates
• Documentation, training and awareness
• Dashboard and periodic reporting
• Claims status and communication updates

Cooperative Insurance Consultancy Co. Ltd. (CIC) has set the standard for outstanding service through its renowned Marine Division, serving clients not only in Saudi Arabia but also across the Middle East. In addition to our comprehensive insurance consultancy services, CIC extends a spectrum of additional offerings tailored to the dynamic maritime sector:

• Cargo stowage surveys
• Salvage scheduling & management
• Cargo damage surveys
• Hull & machinery claims-collation of documents, management, liaison with Average Adjusters, collision investigation
• Advice on environmental protection
• Protection & indemnity Insurance – market reporting, pre-qualification of clubs, marketing
• Advice on the interpretation and application of the CLC and Fund Conventions
• Cargo claims recoveries
• Operational advice on health & safety matters, maintenance programming, training, recruitment
• Contract interpretation
• Advice on jurisdictional matters and procedures

Cooperative Insurance Consultancy Co. Ltd. (CIC) has a distinguished history of providing consultancy services to some of the largest government institutions, both regionally and internationally. In emerging markets, many government institutions have yet to establish robust risk management protocols for identifying and managing their risk exposures. When a loss occurs, it can have disastrous implications for government finances.

This is precisely where CIC excels. Whether it involves advising the public sector on asset valuation and rationalization or crafting insurance protection programs, or collaborating with environmental protection agencies on oil pollution cleanup and litigation, CIC possesses the expertise to deliver exceptional solutions.

In Saudi Arabia and the Middle East, CIC stands as a trusted partner for government institutions, offering specialized programs that empower them to navigate the complexities of risk management effectively. Our commitment is to safeguard government coffers and ensure the resilience and sustainability of public-sector operations.

Key Disciplines:

• Government Specific Enterprise Risk Management Initiatives
• Government Studies and Litigation Drafting
• Design of Insurance Protection Programme and sourcing of securities.
• Liability assessments and risk mitigation
• Disaster Recovery and Environmental Clean Up
• Asset Valuation
• Claim Litigation

In today’s corporate landscape, organizations worldwide are increasingly recognizing the significance of effective health and life insurance programs as integral components of their employee engagement strategies. These programs not only promote the well-being of employees and their dependents but also provide crucial financial support to families during unforeseen events.

However, the management and planning of healthcare programs demand meticulous attention. Without proper oversight, what begins as a valuable employee benefit can quickly transform into a financial and administrative burden.

Rising healthcare costs due to inflation, limited awareness, over-prescription, misuse of resources, and ever-evolving regional regulations have led to substantial increases in medical insurance premiums.

At Cooperative Insurance Consultancy Co. Ltd. (CIC), we partner with organizations to create, implement, and manage sustainable, employee-centric programs. Our innovative solutions encompass a comprehensive range of services including:

• Strategic program definition and benchmarking
• Program tracking and loss performance reviews and analysis
• Identification of abuse, utilization trends, and other areas of improvement
• Corporate awareness and orientation programs
• Real Loss History / Ratio definition
• Program restructuring, customization, and placement
• Network definition and Customization
• Self-insurance programs
• Class distribution
• Process Engineering
• Employee Communications
• Corporate Governance

A captive insurance company, usually just called a “captive,” is an insurance company owned by a non-insurance company, that is set up specifically to underwrite the risks of its parent company or companies.”

• It is an insurance subsidiary for one or more insurance buyers, who are also the owners of the captive
• It is risk management tool that has been used globally for decades
• There are more around 5,500 captives worldwide
• Most of the world’s leading firms utilize captive insurance companies
• Captives can be owned by almost every type of insurance buyer, in sectors such as energy, industry, real estate, financial services, transportation, utilities, etc.
• Subject to minimum regulatory and capital requirements and are set up in various jurisdictions known as captive domiciles

CIC through our sister concern Ensurion, is able to offer clients a viable multi jurisdiction Solutions in over 15 domiciles.