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IIP Structure

Spanning many industries and countries worldwide, there is a wide variety to the individual requirements of our clients. Their varying exposures and local needs demand individually adjusted international insurance structures – which are always carefully designed on a case-by-case basis.

This is one of Allianz’s key advantages because of our experience in the bespoke design of individual global programs – as well as the breadth of our product range. A variety of options can be offered, subject to individual client exposures, which could include:

  • Stand alone local policies issued by Allianz offices in several countries
  • Difference in conditions/Difference in limits (DIC / DIL) at central level above local policies (for incidental risks)
  • For property, engineering and marine coverage, freedom of services (FOS) single admitted pan-European policy for EU/EEC states
  • Centrally controlled and coordinated master program, international insurance program (IIP)
  • Fronting for client captive with or without risk retention by Allianz

In order to demonstrate how a typical IIP is structured, we outline below two examples of the more common IIP product types: property and liability.

Property

  • Local policies placed with Allianz companies or our partners
  • Oriented on maturity of local market as well as legal environment
  • Considers compulsory insurance components and specialties
  • Regulatory requirements taken into account
  • Complies with handling requirements for taxes, levies and fees
  • Premium calculation and allocation done in relation to exposure
  • Local policies pooled via reinsurance to optimize on overall scope incl. master cover DIC/DIL
  • Centrally agreed maximum scope of cover master cover (DIC/DIL) for corporate protection
  • Global risk management & loss control program aligned to overall concept
  • Centrally controlled claims handling via lead office
  • Information on exposures, policies & claims centrally recorded

A property IIP provides harmonized global coverage under a global master policy

Liability

  • Similar to property IIP concept but with additional specific umbrella coverage for US risks (Freedom of services approach in Europe is not applicable).
  • Assures compliance with special regulatory and market requirements in this region

A liability international insurance program covers multiple=