International presence and expertise
The Roederer Group accompanies its customers all over the world. To do this, we have chosen to rely on two world-leading networks: Uniba and unisonSteadfast in order to guarantee you the same quality of service in more than 150 countries.
The specific purposes of an international programme is to:
- secure your Group financially: the programme's main objective is the sustainability of the Group by ensuring that a major disaster affecting a subsidiary will not jeopardize the entire Group
- monitor and harmonize risk management and the overall levels of insurance cover
- make savings on overall insurance costs by seeking risk pooling and claim pooling
- enhance the reliability and quality of services by working with reliable, creditworthy service providers that are interested in the importance of the risk pool to be handled
It also ensures the compliance of all Group locations with the policy deployed by the parent company in terms of prevention and protection with respect to Group ethical values as well as to the different regulations in force.
The Group Roederer international approach
In this framework, our approach is structured in 3 main phases, which we describe to you below.
Step 1: evaluating the need for insurance at the international level
This evaluation includes a detailed analysis of:
international exposures and risks
local policies (if any)
the legislative, regulatory, commercial and local contractual context
Step 2: identifying company policy on insurance
Schemes can be very different depending on the company:
variable autonomy of subsidiaries according to the specific company culture
necessary support from the Executive Management for setting up the programme;
Identification of an internal person with responsibility at "Corporate" level to act as an internal relay point (within the subsidiaries) and the entry point from outside (all service providers).
Step 3: the construction, deployment and management of the international programme
Setting up, through numerous options, the deployment and management of international programmes requiring the expertise that the Roederer Group has been applying for over 15 years with a dedicated team and multilingual staff.
The comprehensive approach/single policy: Free Provision of Services (FPS)
The Master Policies + Local Policies approach
Companies operating in the European Union can opt for a Free Provision of Services (FPS) international insurance programme. This type of programme is used for:
But this type of programme also has disadvantages:
In other words, the FPS sends several prerogatives and management tasks that were previously handled by the subsidiaries back to the parent company, which can be appreciated in various ways.
An international insurance programme consists of setting up a master policy that allows the local policies to remain, either in an integrated way (local policies issued from the same insurer and reflecting the Master Policy), or in a non-integrated way (local policies issued from multiple, non-homogeneous insurers).
In this context, the company negotiates a "DIC/DIL" clause*, which reassures the parent company.
After checking that the local policy does indeed meet the regulatory and contractual requirements of the country where the subsidiary is, this clause is used to cover any deficiencies of these policies, both in terms of guarantee conditions and insurance cover limits. It therefore enables full compensation for all claims by excluding any local impact on the Group's consolidated financial accounts.
If a country does not authorize the insurance of the risk from another country, the compensation is paid to the parent company or through a "Financial Interest Clause" (FIC).
* Difference In Conditions/Difference In Limits
Special importance is attached to the subject of "Compliance" in order to comply with the legal, regulatory and fiscal requirements of each of the countries concerned.
Communication and coordination are fundamental elements of the implementation and administration of a programme. This communication must be permanent and must accompany the life of the programme.
The deployment of an international insurance programme is a complex operation: the issues within a Group are not always consistent, designing the programme and choosing competent partners is not easy and communication is an essential task that must be mastered.
Find out more about the presence and expertise of the Group Roederer at international level: