What exactly is risk?

Risk is the potential harm that may arise from a current process or a future event. We often associate risk with probability, and when conducting a professional risk assessment, this combines the likelihood of a negative event occurring with how harmful it would be. Understandably, risk can be daunting to business owners, since, no matter what industry you are in, risk is guaranteed to be encountered.

As a business owner, you may be unsure which risks you should retain and which ones you should rather avoid or transfer.

This is where Corporate Guarantee comes in, by assisting you in both analysing and optimising your risk management process.

Contingency Policy

To assist you in managing your risks, Corporate Guarantee offers cost-effective solutions, with our main product focus being Contingency Policies.

The Alternative Risk Transfer (ART) Contingency Policy is a non-life insurance policy that serves as a practical alternative for clients with a long-term commitment to property loss prevention and risk mitigation.

One of the key benefits of implementing this policy is the potential reduction in long-term insurance costs. Premiums paid under the risk management policy are allocated based on the risks outlined in the policy. Any cover not utilised during the current period is not lost, it can be renewed and applied towards future risk management.

This product provides clients with a dedicated risk management structure and a broader scope of risk cover categories, particularly in areas where conventional insurers may be unwilling to provide cover or where appropriate cover levels may be prohibitively expensive.

Contingency policies have become an essential tool for risk managers globally and now account for a substantial portion of international insurance premiums.