PWS Brochure 2017

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Professional service and innovative solutions


PAGE INDEX

1. PWS Gulf Introduction

2. PWS Gulf, Dubai

3. PWS Gulf, London

4. Marine and Energy

5. Marine Cargo

6. COFR

7. Financial Institutions

8. Jewellers’ Block

9. Property and Casualty

10. Engineering

11. Reinsurance

12. Kidnap and Ransom

13. Claims

14. Health Insurance /

Employee Benefits

15. Life & Pensions

16. The Team


PWS Gulf - Dubai and London

Dubai and London share many common

traits; both are known for innovation,

leadership, creativity and quality.

PWS Gulf has offered all of these to the

insurance and reinsurance markets since its

formation in 1998.

We established PWS Gulf in Dubai to deliver

innovative and complex risk solutions across

the region and elsewhere; together with our

office in London, we are strategically placed

to offer our services worldwide.

1


PWS Gulf, Dubai

Our expertise in Europe, the Middle East and

beyond is reflected in our own geographical

distribution of clients across those regions as well

as South Asia, Africa, and the Far East. Our

services are based on a long history and

experience of working with our client partners to

meet their risk requirements in an ever changing

regional and global environment.

Our raison d'être goes beyond the simple

placement of insurance. We are committed to

working with our clients to identify their risks, to

structure their risk management approach, provide

access to the world’s leading markets, and arrange

programmes to meet their needs.

Our prime aim is to maintain high quality service

levels. We employ a multinational team with

significant experience in the Middle East, Europe,

Africa and Asia. We focus on the provision of

insurance and reinsurance programmes for the

marine, energy, industrial, construction, financial

institutions and jewellery industries.

Our clients’ interests and welfare come first and we

give priority to forming long-term relationships. At

PWS Gulf, we will be innovative, efficient and seek

solutions to your insurance requirements. In

particular, we tailor make insurance wordings to our

clients precise requirements, rather than giving them

“off the shelf” products.

Where risks require specialist solutions, PWS Gulf

has access to all the major global insurance

markets. Through our Dubai and London offices, we

provide expert and financially strong capacity.

2


PWS Gulf, London

PWS Gulf Ltd is an FCA approved London Broker,

based along the road from Lloyd’s, working directly

with UK based carriers. Placements are made in to

both the Company and Lloyd’s markets. Where the

specialist skills and coverage that Lloyd's can offer

are required, we utilise a Lloyd’s partner and

manage the broking role.

In addition to a presence in the City of London,

PWS Gulf Ltd also has an Administrative office in

Oxted, Surrey.

Our scope in London is not only the placement of

cover, but also the sourcing of new ideas and

concepts from our many contacts for the benefit of

our clients. In the past few years we have used our

connections in London to assist with (re)insurance

placing and in managing the progress of claims

and securing settlements. We see an increasing

role for this service.

3


Marine and Energy

Dubai is home to some of the world’s busiest ports

and sea lanes, the demand for marine insurance

coverage remains a significant part of the region’s

premium income. The energy market, both in terms

of construction, production and transportation,

demands huge investment and with it complex and

high value risks.

Our marine team have decades of experience in

this sector, building long and lasting relationships

with specialist underwriters across the marine

classes, to the benefit of our clients.

• Hull and Machinery

• Demolition Voyages H&M / P&I

• Dhows / Launches H&M

• Yachts / Pleasure Craft

• Cargo

• Marine Equipment

• Ship Repairers Liability

• Port Operators Liability

• Marine CGL

• Builders Risk

• Offshore Construction

• Marine Energy

• Protection & Indemnity

• Charterers Liability

• P&I Port Risks Schemes

• Kidnap and Ransom - Piracy

4


Marine Cargo

Transshipment of cargo at sea, Mocimboa da Praia, Mozambique

Cargo insurance is a field where

PWS Gulf has always specialised.

Our expertise in this area has

allowed us to establish facilities

supported by Lloyd’s underwriters

which enable us to provide

bespoke coverages particularly for

non standard cargoes.

We believe in recognising the

expertise of our clients to handle

Cargo properly, and have acquired

business for supporting underwriters

from new areas.

We have placed Cargo where the

values have been challenging, and

also where equipment is needed

for construction in unusual terrain.

Many of our clients are from Africa

and the Middle East, but we hope

in future to offer services in

developing territories such as

Myanmar, Madagascar, and other

emerging economies.

5


COFR (Certificates of Financial Responsibility)

This coverage became necessary after the Exxon

Valdez casualty when the US Coast Guard (USCG)

introduced OPA 90. The USCG needed a

guarantor who would pay without defences, and

the International Group of P&I Clubs (IGA) wanted

to maintain their defences. This was known at the

time as the “gunfight at the OPA corrall”.

6

Andrew Bathurst was one of the architects for the

solution, then known as First Line, and created a

fund in Bermuda to act as guarantor whilst also

getting evidence of IGA P&I cover for each vessel.

First Line is now known as SIGCO and is still the

main provider of COFR today.

PWS Gulf are specialists in this area and arrange

cover for some of the major shipowners in the world.

We also arrange cover for Drill Ships in US waters.

This field is still evolving but currently we arrange:

COFR / Guaranty

To comply with The Oil Pollution Act of 1990, all

vessels over 300 Gross Tons sailing within the US

Exclusive Economic Zone (EEZ) require “Evidence

Exxon Valdez. (Credit: NOAA Office of Response and Restoration)

of Financial Responsibility”, usually in the form of a

Guaranty supporting a Certificate of Financial

Responsibility (COFR) issued by the National Pollution

Funds Center (NPFC) in the US.

ICB (International Carrier Bond)

An ICB is required by US Customs & Border

Protection in order for the shipowner to comply with

Automated Manifest Service (AMS) and Automated

Passenger Information Service (APIS) regulations

when trading to the USA.


Financial Institutions

Greater financial and business sophistication requires innovative new products and solutions for firms in

Europe, the Middle East and Asia. The increased use of technology has opened business up to new threats

such as cyber crime and fraud.

The pressure for businesses to mitigate these risks has never been greater and, at PWS Gulf, our specialist

financial institutions team has access to the major global insurance markets, in London, Europe, the Middle

East and Asia to provide the expert and financially strong capacity to mitigate them.

We have the ability to work with you to identify the areas where coverage and risk management are

most needed. We create innovative solutions to meet your requirements and we have contacts and

relationships to place those risks with underwriters who have a detailed understanding of the sector.

• Bankers Blanket Bond

• Computer Crime

• Bankers Professional Indemnity

• Stockbrokers Indemnity

• Securities and Futures Industry Indemnity

• Commercial Crime

• Credit Card / Identity Theft

• Armoured Car Security Companies

Cyber Crime

Cyber Crime Insurance is now a fast

developing class of (re)insurance of its

own, which can be written as a separate

policy. Recent high profile hacking

frauds illustrate the importance of

protection from this growing menace.

Underwriters will provide specialist

services to assist clients whose systems

become compromised.

7


Jewellers’ Block

Dubai is a major player in the world gold market. Several refiners are present in the UAE in addition to

major importers and import/re-exporters of both bullion and scrap gold.

In addition to trade in physical metal, Dubai boasts by far the largest concentration of Jewellers in the

wider Middle East region. This includes both wholesalers and retailers of gold and diamond jewellery,

other gem dealers and jewellery manufacturing units.

PWS Gulf has long been a

significant regional participant in

both the Jewellers’ insurance and

reinsurance market.The placement

of risks for the Jewellery industry

is facilitated through the use of

the PWS Gulf’s in house binding

authority arrangements. This

enables a rapid response time

on quotations for stock, local

and international transits,

entrustments exhibitions, and

fidelity risks.

8


Property and Casualty

The Middle East region has experienced a huge development of physical infrastructure – encompassing

industrial projects, hotels and retail space, offices, housing, major utility, petrochemical + hydrocarbon

and transport projects leading to a considerable growth in the Property and Casualty sector.

PWS Gulf will work with you to identify the areas where coverage and risk management are most needed.

We have the contacts and relationships to place such risks with Underwriters who have a detailed

understanding of the sector; we will assist you with implementing the innovative solutions required to meet

your needs.

• Property

• Business Interruption

• All Risks

• Money / Fidelity

• General Liability

• Public and Products Liability

• Workmen’s Compensation

• Employers Liability

• Group Travel / Accident

• Professional Indemnity

• Directors and Officers Liability

• Political Risks

9


10

Engineering

The Gulf region remains one of the world’s most

active within the construction industry. The range

and scope of engineering projects in the region is

as varied as the risks they present. There are

specific challenges for projects in the Middle East

and they require local expertise to structure the

products to meet those challenges.

PWS Gulf works primarily in Engineering

reinsurance. Our engineering unit has ready and

comprehensive access to the major global

insurance markets, such as London, North America,

Europe and the Middle East to provide the expert

and financially strong capacity to mitigate risks.

Our experienced technical team has significant

expertise in placing risks for general civil work,

dredging and marine coastal work, major construction

projects, and all types of plant. We also provide a

pro-active claims service.

• Contractors All Risks

• Erection All Risks

• Plant and Equipment

• Electronic Equipment / Computer All Risks

• Machinery Breakdown

• Decennial Liability

• Onshore Energy


Reinsurance

The domestic insurance community continues to grow, as does their demand for reinsurance capacity to

meet the needs of their policyholders.

At PWS Gulf, our dedicated reinsurance team have comprehensive, and in many cases unrivalled, access

to the major global insurance markets, such as London, Europe, the Middle and Far East, to provide the

expert and financially strong capacity required by cedants. We also have relationships with the emerging

local (UAE and Gulf region) reinsurance markets which have developed into a real choice for cedants in

recent years.

Most of PWS Gulf’s reinsurance activities have met cedants

demand in the Financial Institutions, Jewellers, Engineering, and

Professional Indemnity and/or Medical Malpractice sectors.

However, we also provide reinsurance support on Property,

Marine, and other coverage lines where necessary. We deliver

prompt documentation and claims service for cedants. Access

to specialist binding authority arrangements can also be utilized

for several lines of business.

We can place covers on both a treaty and facultative basis

utilising our relationships with strong highly rated underwriters.

• Facultative – most classes of Non Marine and Marine.

• Treaty – proportional & non proportional

11


Kidnap and Ransom

Andrew Bathurst, a Director of PWS Gulf, has been involved in K&R since this insurance was first

pioneered over 30 years ago. He is a member of SCEG, a London Group of major security companies.

Non Marine K & R

The world is a dangerous place. We place annual worldwide or trip cover into areas such as Somalia

and Afghanistan.

Marine K & R and Loss of Hire

In the Indian Ocean / Gulf of Aden, the risk was

Somali pirates who had safe ports to which they

could take the ships and demand ransoms; such

hijackings were often for extended periods.

Currently, in West Africa, pirates seize ships to

steal cargo and hold crew for ransom. Here, the

most pressing need is K&R cover for the crew and

a short period of indemnity for Loss of Hire.

Our strength is our long term working

relationship with Underwriters and security

providers, who give us access to skilled

negotiators, should the need arise.

12


Claims

A quality claims service is an integral

feature of the experience we provide.

Apart from providing support with

document collation, our scope

encompasses working closely and

coordinating individually with clients,

surveyors, adjusters, insurers and

reinsurers to ensure that claims are

dealt with in a timely and efficient

manner.

On certain difficult claims, we have

also utilised our London office to assist

with direct negotiation with reinsurers,

and have achieved some successful

settlements on cases which had earlier

been repudiated.

Wherever possible, we nominate the

choice of adjuster or surveyor in order

to ensure a user friendly service as

well as improve the likelihood of a fair

settlement within a realistic time frame.

13


Health Insurance / Employee Benefits

Employee benefits are a major employment factor for staff, particularly in the Middle East. Access to benefits such

as medical and life cover is a significant element in the successful recruitment of talented individuals. Creating a

broad spread of attractive benefits at a reasonable price delivers significant competitive advantages to firms.

There has been a huge increase in the regional premium

volume of Medical Expenses / Health insurance over

recent years. This has partly been driven by government

initiatives to make Medical insurance provision

compulsory, particularly in Saudi Arabia, Abu Dhabi

and Bahrain, and recently Dubai, with other areas set

to follow.

14

At PWS Gulf, our dedicated Medical & Life division has

access to both local and international providers. We

place staff and worker group schemes, high end

executive level plans with bespoke global coverage and

Group Life / Personal Accident schemes including

Sickness, if required.

PWS Gulf also has specialist expertise in placing

Personal Accident (PA), inclusive of War Risks, for

Contractor staff working in hazardous territories such as

Iraq and Afghanistan, or specialist PA / Sickness plans

for groups such as divers or ship’s crew.

Our scope includes:

• Group Medical (Health)

• Health Maintenance Organisation Schemes

• Individual / Small Groups Medical Expenses

• Group Life

• Group Personal Accident / Sickness

• Kidnap and Ransom


Life, Pensions and Wealth Management

Financial services and wealth management can be a complex and crowded arena. Our goal is to provide

straightforward and clear, high quality advice; we are committed to building long term relationships with

our clients based on mutual respect and understanding. This enables us to create, grow, and preserve

your wealth.

As an independent firm, we are able to offer you advice that is free from bias, utilising the best products

from across the entire market place.

Each of our advisers have accumulated many years` experience advising clients on financial planning

and protection needs, both in the UK and overseas. We will diligently work with you to understand your

future aims and objectives, then create an individual strategy that works for you and fulfils your expectations.

Private Client Services

• Retirement and Pension Planning

• UK Pension Transfers – SIPP & QROPS

• Wealth Management

• Financial Protection against Death or

Critical Illness

• Inheritance Tax Planning (IHT)

• Estate and Trust Planning

• Business & Partnership Protection

• Existing Plan Evaluation

• School and University Fee Planning

15


Key Team Members

Charles Cashin, Managing Director, has worked in the Middle East since December 1984 and runs PWS

Gulf’s Dubai office. His background is Marine, Energy and Utilities, Engineering, Property & Casualty,

Financial Institutions, and Jewellers Block. A Chartered Insurance Broker, Charles is also a Director of the

UK Company.

Dubai:

Fanny D’Souza / Nisha Thomas: Financial Institutions, Jewellers Block, Property/Casualty and Reinsurance.

Alfred Rodrigues / Michelle Chong / Dennis D’Souza: Marine Insurance.

Grace Hualda / Christian Castrodes: Property and Casualty.

Dr. Ajitha Nair / Vineetha Vijayan: Health and Employee Benefits division.

Sreejith Thalappan / Sojan Babu: Marketing.

Lawrence White / Julian Raymond / Paul Spencer: Life & Pensions.

UK:

Andrew Bathurst, Director, oversees the London company. A Marine specialist, Andrew has more than

35 years of experience in underwriting and broking at Lloyds of London. Currently a Vice President (and

previous Chairman for 10 years) of the London Insurance Institute Marine Committee, he assists with PWS

Gulf’s London market Marine / Energy placements and is also a K&R specialist.

David Fairlie: Marine and K&R Insurance.

16

Arun Anand, a Chartered Accountant based in Dubai, runs Finance & Accounting, assisted by Amer Nasser.

Idris Odeh, Director, provides Consultancy services.


PWS GULF INSURANCE BROKERS LLC

P.O. BOX 22135 DUBAI UNITED ARAB EMIRATES

TEL (+971 4) 3552434 FAX (+971 4) 3583939

E-MAIL info@pwsgulf.com www.pwsgulf.com

PWS GULF LIMITED

148 LEADENHALL STREET, LONDON EC3V 4QT

UNITED KINGDOM

TEL (+44 1883) 730018 E-MAIL info@pwsgulf.uk.com www.pwsgulf.com

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