Refer to your Comprehensive General Liability Insurance Policy No.0300A00755 and Workmen’s Compensation Insurance Policy No. 0300A00763 is going to expire on 5th October 2016, We would like you to update information for this renewal in “Pre-Renewal Report 2017.pdf” file -3 pages for your reference and further process.
In addition to the above, we are pleased to enclose herewith the Proposal for the renewal period for your consideration which AIG has offered renewal premium at 10% reduction for Comprehensive General Liability Insurance Policy subject to no material changes in the risk & turnover and no claim or incident may lead to claim up to date.
Meanwhile, we would like to take this opportunity to enclose a copy of our Business Protocols document as per the attached “Business Protocols.pdf” file – total 9 pages, which please review, as it sets out the basis of and extent to which Placing and Claims services will be provided by us in connection with the above and any future insurance we arrange on your behalf, unless we enter into a more specific agreement.
The document also highlights certain important practices and procedures that apply when arranging insurance, and provides more general information on our services.
From time to time we may need to update and re-issue our Business Protocols document to reflect changes in the legal and regulatory environment in which we operate, and to ensure that any pertinent information contained therein, such as contact details, remains current.
Duty of Disclosure
In addition to providing all basic information necessary to enable us to place the risk, you must ensure that you are complying with your legal duty of disclosure of all material matters relating to the risk. In particular, you must satisfy yourself as to the accuracy and completeness of the information you provide to insurers.
In this respect, you must provide all information relating to the risk, whether favourable or not, which would influence the judgement of a prudent insurer in determining whether he will take the risk, and, if so, for what premium and on what terms.
If all such information is not disclosed by you, insurers have the right to avoid the contract from its commencement which may lead to claims not being met
We hope that the foregoing and the enclosed document are self-explanatory. Should you require any clarification, please let us know.
Looking forward to receiving the information for renewal year 2016/2017 from you soon. Thank you.