In Partnership with Globex MUS, our Partner Markets can advertise and deliver a true global capability:

• Any market can be an admitted global player by partnering with Globex! Globex lends instant global capabilities to our Partners who have historically been unable to compete or were limited to a supporting role on international insurance programs.
• You can have access to admitted local paper or fronting policies on multinational programs: Globex arranges admitted policies as pure fronting policies, or as underlyers to international programs. We handle hundreds of admitted placements worldwide.
• We have extensive experience designing and placing international Marine, Property, Professional Indemnity, and Casualty programs. We are currently actively working with markets to meet the ever changing challenges of Directors and Officers Liability, where admitted requirements are becoming more stringent in many countries.
• When you partner with Globex, “your” network of admitted insurers in 130 countries is ready to go to work for you: These carriers are ready to issue fronting or admitted policies on behalf of our Partners. We are constantly adding to our network. We have unparalleled facilities in Brazil.
• We are our Partner’s international underwriting resource desk. Together with our international network we provide our Partners with the latest market intelligence and updates on regulatory requirements for their programs. We also provide pricing and underwriting assistance.
• Our fees are very competitive compared with the typical 10 – 12% fronting only fees charged by global underwriters (ACE, Zurich etc).
• In addition to our central underwriting office located in Connecticut we staff coordinating offices in Frankfurt, Germany and Beijing, China.

Who We Are:

Globex International Group is a multinational risk management services firm that partners with select insurance organizations across the globe. Globex’s Multinational Underwriting Services division provides international underwriting/placement services to insurers (Partner Markets) who do not have an in-house international department or an international network of underwriters. Advertising and delivering a true international capability has been particularly rewarding for our Partners. We currently handle hundreds of active international fronting placements, and are seeing a constant influx of new business opportunities.

Sample Success Stories:

• Partner Market provided capacity in an excess layer for account ABC. Primary was controlled by a global player due to ability to place admitted paper. Primary pricing and fronting fees increased forcing a reduction in the pricing of the excess layers. Partner wanted to participate in the primary. Partner proposed a total program solution including primary, excess and fronting using the services and capabilities of Globex. Partner won the entire account due to competitive pricing.
• Partner Market wrote the domestic only exposures of a US based account. Account expanded into Europe and China via acquisitions. Risk Manager determined it was best to put together a global program and sought alternative quotations from Zurich, AIG and ACE. Partner immediately contacted Globex who worked with Partner to place admitted/fronting policies in 5 countries satisfying the Risk Manager and maintaining what was a long-term relationship with the client.
• Partner Market provided “global” cover on a non-admitted basis for a Fortune 1,000 client. The board of directors of the client decided that the program had to be admitted in order to meet all potential regulations. Partner was made aware that the program would have to move to a global carrier. Market asked for a 30 day window to generate a solution. Globex was approached and secured fronting policies in each country outside the United Sates (15 countries) within 7 days. Partner Market retained the account and increased their net premium in the process.
• Partner Market wrote non-admitted global D&O policy for a US-based, publicly traded manufacturer. The insured’s Board of Directors as well as local Officers in four countries pushed to have local admitted coverage in place. Globex facilitated the issuance of two fronting and two stand-alone policies to enable the Partner Market to satisfy the insured’s request.

For More Information

Contact Kathrin Howard, Douglas Fay or Ning Xu.

This phenomenon is clearly illustrated by the Business Insurance article below:

http://www.businessinsurance.com/article/20111016/NEWS06/310169977#crit=insurance

While a data base of local country information is critical to understanding costs and compliance regulations, Globex goes above and beyond and offers our Underwriting Partners a complete global solution namely:

• A Proprietary Database which captures all regulatory and insurance tax needs in real-time
• Interpretation of Regulations based on our international experience and that of our network of local insurers
• Implementation of a compliant solution catered to the requirements of each placement

Please contact any member of the Globex Multinational Underwriting Services team to learn more about a how we can offer you a cost effective and competitive global capability.

MUS August 2011 Newsletter

MUS July 2011 Newsletter

MUS May-June 2011 Newsletter

MUS April 2011 Newsletter

MUS March 2011 Newsletter

MUS February 2011 Newsletter

MUS January 2011 Newsletter

May 2011

Key topics include UK Pension Reform, and the potential impact of US Healthcare Reform on Expatriate medical plans.

April 2011

This issue of the newsletter explores pension changes underway in the United Kingdom and Quebec.

March 2011

Natural disasters in New Zealand and Japan prompt employers to review the adequacy of their insurance coverage and contingency planning; Australia has launched its long-awaited new paid maternity leave scheme.

February 2011

Turmoil in the Middle East highlights the importance of security and political evacuation coverage. Malaysia launches a mandatory health insurance scheme for foreign workers.

January 2011

For those concerned about escalating healthcare costs in the United States, we have good news: They’re even worse in many parts of the world. Global medical inflation is estimated at 10.5% for 2011.

April 2011

March 2011

February 2011

January 2011