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Tuesday, November 29, 2022

Partner broker – new member of the Renewable Energy Sources of Croatia

Partner broker, a company for brokering activities in insurance and reinsurance with headquarters in Zagreb is a new member of Renewable Energy Sources of Croatia (RESC)

Partner broker consists of a team of brokers from key positions in leading insurance and brokering companies from the Croatian market who have long-standing experience in activities of insuring and managing damages. As they point out, in daily business activities they strive to provide high added value for clients through services of risk analyses, creation of tailored insurance solutions, negotiations with insurance companies on behalf of clients, and management of the process of applying for and liquidating indemnity claims.

“We help our clients optimize the costs of insurance, offer continual professional assistance linked to the application of rights and meet the obligations from the insurance agreement simultaneously with full business transaction transparency. We cooperate and render due attention and care to approximately one hundred clients from the Republic of Croatia and the EU who come from various industries, such as construction, energy, transportation and logistics, nuclear technology, tourist and hospitality activities, production, etc. Considering the complexity of the insurance field in present circumstances, certified insurance brokers represent an unavoidable element of preparing and concluding insurance agreements and play a unique role in protecting the parties of the insurance agreement”, the director Mario Zadravec pointed out.

It primarily views wind farms and solar plants as potentials for insurance brokering services considering they are exposed, due to their specificities to various risks. “Apart from being exposed to various internal and external risks which need to be insured, the practice has shown that, as a rule,  the very complexity of insurance represent a great problem to the insured parties which appears in the course of negotiating such complex insurance policies as well as the application process and liquidation of damage claims”, Zadravec clarified. He also added that the role of brokers is to recognize the risks the client is exposed to given the environment and activity he is engaged in, create an insurance program according to the actual needs of the client, including assistance in the process of reporting, and processing the damages incurred.  “For example, the insurance of wind farms is a very complex process which requires comprehensive knowledge of the industry, specific experience in the resolution of damage claims, and knowledge of the insurance market and insurance conditions so as to contract adequate insurance coverage and manage damages in a qualitative manner.  Precisely for that reason, we believe that due to our experience we can assist companies from the RES sector”, the director of the Partner broker underscored.

Speaking of plans for the forthcoming period, a motive for joining the membership of OIEH,  as Zadavec pointed out, was their recently initiated project of insuring wind farms by unifying the risks of a number of wind farms into a joint ‘pool’ the goal of which was to provide a better ratio between the premium and insurance coverage as well as complete support in regard to all aspects of insurance, and primarily in the process of reporting and processing damage claims for clients and OIEH members. Apart from the work on the wind farm insurance project, Partner broker is active in a similar insurance project in another industry where expectations are also high. Partner broker will, as its director disclosed, achieve a 100% growth in 2021, and are also planning considerable growth in 2022.   “Bearing in mind the problem matter of insurance faced by the companies active in the field of renewable energy sources, we wanted to initiate a project that already exists in other industries and which will place the project participants in a better position in the course of negotiating the conditions of insurance and in the course of solving damage claims. We hope that as many as possible of members will recognize their interest and join the project”, Zadravec pointed out.

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