An insurance audit conducted by Insurance Law Office’ specialists – lawyers and insurance market practitioners – (Insurance Auditors) – in the company or institution, will ensure an analysis of the state of the existing insurance (including the subject-matter and scope of insurance, procedure of treaty conclusion, increase/decrease of the scope of insurance during given insurance periods, the sequence and causes of losses, the procedures and requirements connected with claims.

The initiation of the insurance audit’s results will allow adapting the scope of insurance possessed by the given entity to its actual needs, and thus will enable to optimize the costs of insurance and risk securitization. It is essential for the Management to be able to lower the amount of paid insurance premium (keeping the scope of insurance as desired) and to improve the process of loss adjustment (when the insurance audit comprises a study of insurance documentation so to erase any doubts as to its interpretation) – which helps to accelerate loss adjustment process and its efficiency.
The insurance audit also results in the creation of a map of areas that do not require insurance, as there exist other, less expensive methods of risk securitization that are not known to the auditem entity – frequently due to the work of insurance intermediaries who are not always reliable when it comes to the factual condition.  The analysis of the insurance audit’s results will also allow you to verify the quality and professionalism of your insurance intermediaries’ work.